Sears 4Q loss narrows, sales slide as business shifts
Sears is posting its fourth straight year of falling profit and revenue, though cost cutting narrowed those declines in the fourth-quarter.
Sears lost $159 million, or $1.50 per share. A year earlier it lost $358 million, or $3.37 per share.
It cut costs and expenses from $10.73 billion to $8.23 billion.
Revenue declined to $8.1 billion from $10.59 billion after the sale of most of stake in its Canadian unit, the spinoff of Lands' End and fewer Kmart and Sears stores.
For the year, Sears' loss widened to $1.68 billion, or $15.82 per share, from a loss of $1.37 billion, or $12.87 per share, in the prior year. Revenue fell to $31.2 billion from $36.19 billion.