Sears Hldg beats by $0.10, beats on revs
- Reports Q2 (Jul) loss of $2.40 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus Estimate of ($2.50); revenues fell 22.5% year/year to $6.21 bln vs the $5.72 bln consensus.
- Kmart and Sears Domestic comparable store sales declined 7.3% and 14.0%, respectively, in the second quarter of 2015.
- Kmart's gross margin rate for the second quarter improved 80 basis points over the prior year second quarter.
- The Company's cash balances were $1.8 billion at August 1, 2015 compared with $250 million at January 31, 2015.