- The 18.1 percent decline is the worst same-store sales drop in history for Sears' namesake stores
- The company said it expects revenue to be $4.4 billion for the quarter, a drop from $6.1 billion in revenue the previous year
Sears posted a staggering drop in same-store sales over the holiday period.
Same-store sales, or sales at stores open at least a year, dropped 15.6 percent during the fourth quarter, including a 12.2 percent drop at Kmart and an 18.1 percent drop at Sears, the company said in a regulatory filing on Thursday.
The 18.1 percent decline is the worst same-store sales drop in history for Sears’ namesake stores.
The company said it expects revenue to be $4.4 billion for the quarter, a drop from $6.1 billion in revenue the previous year.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
Sears is expecting to turn a profit, however, of between $140 million to $240 million. Sears said it expects to benefit somewhere between $445 million and $495 million from the new tax law.
Date: Feb 15, 2018