By  on March 15, 2006

NEW YORK – Sears Holding Corp. on Wednesday posted fourth-quarter earnings that beat analysts’ expectations and more than doubled from a year-ago due to the combined results from both the Kmart and Sears businesses.

Sears was formed nearly a year ago when Kmart and Sears merged. The holding company said that income rose to $648 million, or $4.03 a diluted share, from $309 million, or $3.09 a share, in the year-ago quarter. Wall Street’s consensus earnings per share estimate was $3.62, according to Thomson Financial. Revenues rose to $16.09 billion from $5.95 billion.

For the year, income dropped to $858 million, or $5.59 a diluted share, from $1.11 billion, or $11 a share, in the same year-ago period. Revenue climbed to $49.12 billion from $19.84 billion.

Separately, Sears said that Michael A. Miles and Julian C. Day have decided not to stand for re-election to the board when their terms end in April.

For complete coverage, see tomorrow's WWD.

To access this article, click here to subscribe or to log in.

load comments
blog comments powered by Disqus