Sears Holdings (SHLD) Misses Q4 EPS Expectations; Domestic Comps Fell 6.9%

Sears Holdings (NASDAQ: SHLD) reported Q4 EPS of ($1.70), $0.34 worse than the analyst estimate of ($1.36). Revenue for the quarter came in at $7.3 billion versus the consensus estimate of $7.26 billion.

Kmart and Sears Domestic comparable store sales declined 7.2% and 6.9%, respectively, in the fourth quarter of 2015, which was an improvement from the trend in the first three quarters of 2015.

The Company's cash balances were $238 million at January 30, 2016 compared with $250 million at January 31, 2015.

Merchandise inventories at January 30, 2016 were $5.2 billion, compared to $4.9 billion at January 31, 2015, with the increase primarily being driven by an increase in apparel inventory.

Short-term borrowings totaled $797 million at January 30, 2016, consisting of amounts outstanding under our domestic credit facility, as compared to $615 million at January 31, 2015, consisting of $213 million outstanding under our domestic credit facility, a $400 million secured short-term loan and $2 million of commercial paper outstanding.

At January 30, 2016, the amount available to borrow under our credit facility was approximately $316 million, which reflects the effect of our springing fixed charge coverage ratio covenant and the borrowing base limitation in our revolving credit facility.

Total long-term debt (long-term debt and capital lease obligations) was $2.2 billion and $3.2 billion at January 30, 2016 and January 31, 2015, respectively.

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

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