Share “Sears Hometown and Outlet 3Q net income rises”

Sears Hometown and Outlet 3Q net income rises

Published on NewsOK Modified: November 30, 2012 at 5:50 am •  Published: November 30, 2012

The company said that the 3.1 percent rise was mostly due to increased sales of home appliances in its Hometown and Hardware segment. Those sales were helped by higher prices, promotion, a better product assortment and margin improvement strategies. The retailer said the performance also benefited from increased sales of tools and mattresses in its Hometown and Hardware unit and its Outlet segment due to a larger product assortment. The results were somewhat offset by weaker sales of lawn and garden products because of drought conditions in the U.S. and declining consumer electronics sales.

Sears Hometown and Outlet Stores Inc. and its dealers and franchisees operated 1,237 stores across all 50 states as well as in Puerto Rico, Guam and Bermuda as of Oct. 27.

Its shares closed at $32.02 on Thursday. They have traded in a range of $28 to $37.25 since their October debut.