Search
 

Sears, Kmart Post Comp-Store Declines in Q2

HOFFMAN ESTATES, IL-Most categories of products saw losses, according to executives.

By Debra Hazel | Updated on August 13, 2007

HOFFMAN ESTATES, IL—Gains in consumer electronics, women’s apparel and footwear sales failed to overcome declines in other sectors, and Sears stores reported comparable-store sales declines in the second quarter, Sears Holdings Corp. has announced. Kmart, a subsidiary, also reported declines, spread across most categories.

For the quarter, Kmart comparable store sales dropped by 3.8%. Sears’ comps decreased by 4.3%. The company currently expects net income to be between $170 million and $185 million, compared to an earlier estimated range of $160 million to $200 million. Net income for the second quarter of 2006 was $294 million. Higher markdowns, particularly in seasonal apparel, were largely offset by lower payroll and better control of shrink.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.