Sears Hometown and Outlet Stores Q1 net loss down $12.0 millionStaff Writer | June 11, 2018
Sears Hometown and Outlet Stores reported results for the first quarter ended May 5, 2018.
Sears Hometown and Outlet Loss per share decreased $0.53 to $0.41
Comparable store sales decreased 10.5%. Adjusted EBITDA increased $11.6 million to $2.9 million from an $8.7 million loss.
Will Powell, chief executive officer and president, said, "We were relatively pleased with our performance in the first quarter. We achieved an $11.6 million increase in adjusted EBITDA despite significant weather-related headwinds in the lawn and garden business, our second largest category.
"The impact of our business transformation initiatives was most apparent in the Outlet business, which increased its adjusted EBITDA by $15.5 million in the quarter, primarily due to a significantly improved gross margin rate." ■