I must be living on Mars, our S did not do well -g-
<<Sears earnings beat estimates, domestic business strong
HOFFMAN ESTATES, Ill., July 23 (Reuters) - Sears, Roebuck and Co. (S - news) on Thursday reported second-quarter earnings of $336 million, surpassing Wall Street estimates thanks to a strong performance by its domestic retail and services businesses.
Sears, the No. 2 U.S. retailer, posted net income of 85 cents per share, including a gain of 5 cents from an accounting change. Analysts had expected 78 cents per share, according to First Call, which tracks Wall Street estimates.>>
The only sour note:
<<The retailer's second quarter provision for uncollectable accounts was $355 million, up from $287 million a year ago. The domestic portion was $348 million, compared with $280 million in the 1997 second quarter. Sears said the increase in the provision was due to higher delinquency and charge-off experience.>> |
