TITLE

Sears' Profits Fall Dramatically During Fiscal Q3

AUTHOR(S)
Smith, Steve; Wolf, Alan
PUB. DATE
December 2007
SOURCE
TWICE: This Week in Consumer Electronics;12/3/2007, Vol. 22 Issue 25, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reveals the decline in the net income of Sears Holdings in the third quarter ended October 28, 2007 in the U.S. The company said the decline was primarily a result of a $223 million drop in gross margin, indicating weaker sales. President Aylwin Lewis said they are very disappointed in their performance and they cannot blame the results entirely on the retail and macro-economic environments. The comp-store sales at Sears Domestic declines 4.2 percent, while sales at Kmart dropped 5 percent. Declines were experienced in merchandise categories which were partially offset by increased sales within home electronics.
ACCESSION #
27963880

 

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