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Sears Hometown and Outlet Store Q3 net sales down 3.2%

Staff writer ▼ | December 7, 2015
Sears Hometown and Outlet Stores (SHO) reported results for its quarter ended October 31, 2015. Net sales decreased $18 million, or 3.2%, to $547.1 million from the third quarter of 2014.
Sears Hometown
Sears Hometown and Outlet Store   Net sales decreased $18 million
This decrease was driven primarily by a 1.6% decrease in comparable store sales, lower initial franchise revenues, which were less than $0.1 million in the third quarter of 2015 compared to $6.5 million in the third quarter of 2014, the impact of closed stores (net of new store openings), and lower online commissions from Sears Holdings ($2.7 million in the third quarter of 2015 compared to $4.2 million in the third quarter of 2014).

These declines were partially offset by the discontinuation of layaway in most of our locations as of August 29, 2015, resulting in recognition of deferred layaway revenue.

In the third quarter of 2014, the company also recorded a one-time $2.3 million reduction in revenues related to the reconciliation of payments between Sears Holdings and SHO.


 

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