RSS   Newsletter   Contact   Advertise with us

Sears Hometown and Outlet Q2 net loss decreased $20.1 million

Staff Writer | September 7, 2018
Sears Hometown and Outlet Stores reported results for the second quarter ended August 4, 2018.
Sears
Sears   Comparable store sales increased 0.9%
Net loss decreased $20.1 million to $9.3 million from $29.4 million. Loss per share decreased $0.89 to $0.41 loss per share from $1.30 loss per share. Comparable store sales increased 0.9%. Adjusted EBITDA increased $8.5 million to $11.3 million from $2.8 million.

Consolidated comparable store sales were 0.9% in the second quarter of 2018. This represented a significant improvement from comparable store sales of (10.5)% in the first quarter of 2018 and is the first time since the second quarter of 2013 that Sears reported positive consolidated comparable sales.

Consolidated gross margin was $92.0 million, or 21.3% of net sales, in the second quarter of 2018 compared to $92.3 million, or 18.8% of net sales, in the second quarter of 2017. The gross margin rate improvement of 250 basis points mostly offset the volume-related decrease in gross margin. Closing store costs negatively impacted gross margin by 147 basis points and 228 basis points in the second quarters of 2018 and 2017, respectively.


 

MORE INSIDE POST