Sears Holdings (SHLD) Tops Q3 EPS Views; Updates on Strategic Initiatives

Sears Holdings (NASDAQ: SHLD) reported Q3 EPS of ($3.11), $0.95 better than the analyst estimate of ($4.06). Revenue for the quarter came in at $5 billion versus the consensus estimate of $4.95 billion.

At Kmart, comparable store sales decreased 4.4%. While we experienced an overall comparable store sales decline in our Kmart segment driven by declines in the grocery & household, consumer electronics and pharmacy categories, we are encouraged by the comparable store sales increases experienced in several categories this quarter, including apparel, jewelry and outdoor living. Sears Domestic comparable store sales decreased 10.0% during the third quarter of 2016, primarily driven by decreases in the home appliances, apparel and consumer electronics categories.

Update on Strategic Initiatives

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 continue to evaluate opportunities for these businesses. There can be no assurance that we will complete one or more transactions, and we also intend to take actions on our own that present the opportunity to improve the economics of these brands and business, including potential externalization through non-Sears Holdings channels.

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

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