Sears' Profit Drops

Gross margin pressure cut Sears Holdings' earnings per share by 38% to 14 cents per share during the first quarter.

Sears U.S. saw gross margin decline 110 basis points because of lower margins on home appliances and stepped up markdowns elsewhere, the company said.

Sales were essentially flat at $10 billion. Kmart comps were up 1.7%, and Sears U.S. comps rose 1.2%. Adjusted EBITDA (earnings before interest depreciation, taxes and amortization) was up 89% at Kmart, down 35% at Sears U.S. and up 4% at Sears Canada.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • 1200 Suppliers are Ready for You at Intertextile Shanghai

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT August 2017

See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.

See details!