Sears Holdings (SHLD) Tops Q2 EPS Views; Updates on Strategic Alternatives

August 25, 2016 6:05 AM EDT

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Sears Holdings (NASDAQ: SHLD) reported Q2 EPS of ($2.03), $1.45 better than the analyst estimate of ($3.48). Revenue for the quarter came in at $2.66 billion versus the consensus estimate of $5.43 billion.

Kmart and Sears Domestic comparable store sales declined 3.3% and 7.0%, respectively, in the second quarter of 2016.

Update on Strategic Alternatives:

On May 26, 2016, we announced our intention to explore alternatives for our Kenmore®, Craftsman® and DieHard® brands and our Sears Home Services business by evaluating potential partnerships or other transactions that could expand distribution of our brands and service offerings to realize significant growth. We initiated a formal process and have received interest from a variety of potential partners, both domestic and international, and including retailers, original equipment manufacturers, financial investors and others. Citigroup Global Markets and LionTree Advisors are assisting us in these efforts as we continue our assessment over the next few months. There can be no assurance that we will complete one or more transactions, but we intend to aggressively evaluate all of the potential alternatives available to these businesses.

For earnings history and earnings-related data on Sears Holdings (SHLD) click here.

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