Sears Hometown And Outlet Stores Posts Loss In Q4 - Quick Facts

(RTTNews) - Sears Hometown and Outlet Stores, Inc. (SHOS) reported a preliminary fourth-quarter net loss of $4.63 million or $0.20 per share, compared to profit of $3.72 million or $0.16 per share, prior year.

The company recorded an operating loss of $9.7 million compared to operating income of $7.8 million, prior year. The company said the $17.5 million decrease in operating income was driven primarily by lower net sales, lower initial franchise revenues, and higher selling and administrative expenses. Net sales decreased to $562.34 million from $602.48 million last year. Comparable store sales decreased 7.7%. Adjusted comparable store sales decreased 6.4%.

Bruce Johnson, CEO and President, said, "Fourth quarter results were disappointing, especially in our Hometown segment where Adjusted comparable store sales were down 8.3%. This segment continues to be adversely affected by the continuing highly promotional environment for major home appliances."