HOFFMAN ESTATES, Ill.—Comparable-store sales for Sears Holdings, parent of Sears and Kmart, slipped 1.7 percent in December.
The same-store total encompassed a six percent dropoff in comparable-store sales for Sears’ U.S. stores and a 2.3 percent same-store increase for Kmart. Increases in sales of home products helped boost the Kmart number, along with gains in sales of toys, sporting goods, apparel and footwear. A Sears Holdings statement also said Kmart’s layaway program provided some fuel to its gains. Sears stores, on the other hand, suffered from declines in sales of consumer electronics (which was responsible for more than half of the dropoff), appliances and tools.
The corporation said it expects net income for the fourth quarter, which will end on Jan. 29, to total between $370 million and $450 million, compared to $430 million for the fourth quarter of last year. For the full year, Sears has projected net income to finish at $130 million to $210 million, compared to $235 million last year.