Same-store sales improved, with apparel doing its part. This implies that management's efforts to woo shoppers back from such discount retailers as Wal-Mart
Sears' systematic refocus on retail is well documented. Right here, we've talked about its online apparel initiative, acquisition of Structure, and its holiday toy store lure. In August, Matt Richey ran down the possibilities as Sears began its return to its retail roots.
The $89 million after-tax charge related to Sears' Great Indoors chain. After the charge, Sears reported earnings of $147 million, or $0.52 per share, compared with last year's $189 million, or $0.59 per share. Otherwise, earnings would have come in at $0.84 per share.
Meanwhile, Sears received approval to sell its credit card accounts to Citigroup
And that's hardly a bad plan. In fact, while lower third-quarter earnings might sound like a setback, this appears a mere pothole in Sears' single-minded journey back to retail success and continued sales growth.
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