Sears (SHLD) Income Beats Forecasts

Sears Holdings Corporation (Nasdaq: SHLD) reported that improved sales at its Kmart stores have led to a rise of net income to $430 million, or $3.74 per share, up from $190 million, or $1.55 per share, a year earlier.

Adjusted earnings per share were $3.69, up from $2.94 per share a year earlier.

The results beat the consensus forecast of analysts of $3.48 per share, according to a FactSet Research analyst survey.

Total revenue fell slightly to $13.2 billion, with Kmart comparable store sales performing well with an increase of 1.7%, while Sears comparable store sales were down a disappointing 6.1%.