Sears Trades Up Profit Beats Estimates
Shares of Sears Holdings Corp., had their biggest gain in more than a year, after the largest U.S. department store company reported first- quarter profit that exceeded analyst estimates, gaining as much as 13 percent.
Sears posted net income of $180 million, or $1.14 a share. In the year earlier period, the company had a loss. Revenue jumped 57 percent to $12 billion from $7.63 billion last year.
Sears also announced it had agreed to pay $215 million to settle a class-action lawsuit related to its credit card business which was sold in late 2003.
The company credited its growth to improved profitability at both its Kmart and Sears chains in the United States due to reduced expenses.
Shares of Sears rose $16.51 to $154.47 at 10:10 a.m. in Nasdaq Stock Market composite trading.
The stock gained 1.4 percent in the year through yesterday. Sears has about 3,900 stores in the U.S. and Canada.
Let's Inspire Success, Ownership, and Financial Independence!
As the world faces unprecedented challenges, one thing remains clear: the power to shape our own destiny lies within our hands. At BlackEntrepreneurProfiles.com, we are committed to fostering a brighter future for individuals of African descent worldwide through entrepreneurship and financial empowerment.
Together, let's pave the path to success! Your contribution matters. Donate today and be a catalyst for change.
Latest News & Articles
-
Elon Musk is Richer Than Most African and Caribbean Economies
Created by BlackEntrepreneurProfiles.comWhat happens when you compare the owner of SpaceX to the GDP of South Africa, Jamaica, or St. Vincent? The results are shocking. Discover the massive…
-
Elon Musk Cancels Partnership for Don Lemon's X Show
Created by BlackEntrepreneurProfiles.comElon Musk has ended X's planned partnership with former CNN anchor Don Lemon. This decision comes shortly after Lemon conducted an interview with the…
-
South Africa Opens Its Doors to Remote Workers With New Digital Nomad Visa
Created by BlackEntrepreneurProfiles.comSouth Africa is joining the growing trend of nations recognizing the potential of remote work and is taking steps to attract digital nomads. A newly…
Recently Added Black Entrepreneurs & Executives
-
Kevin Hart
Created by BlackEntrepreneurProfiles.comKevin Hart, widely recognized as a Hollywood A-lister and comedic powerhouse, has established himself as both a successful entrepreneur and a shrewd…
-
Peter Akwaboah
Created by BlackEntrepreneurProfiles.comPeter Akwaboah is a finance industry professional with nearly three decades of experience. He was recently appointed Chief Operating Officer by Fannie…
-
Bolaji Agbede
Created by BlackEntrepreneurProfiles.comBolaji Olaitan Agbede is Acting CEO of Access Holdings Plc following the passing of founding Group Chief Executive Officer, Herbert Wigwe. She is a…
FTC: Black Entrepreneur & Executive Profiles is reader supported, we may earn income on affiliate links. You support us by using our links to buy products, it will cost you nothing extra.
We also a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.