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 and Outlet Store Net sales decreased $18 million
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. ■