Hoffman Estates, IL, January 10, 2007--Sears Holdings Corp. said Wednesday that same-store sales at its Sears stores in the United States fell 5.6 percent in the nine-week period ended December 30 due to lower sales of lawn and garden products and appliances.
Same-store sales at the company's Kmart chain fell 1.2 percent over the same period, as unseasonably warm weather dampened sales of cold-weather apparel.
The retailer, led by hedge fund manager Edward Lampert, said it expects to earn $4.87 to $5.39 per share in the fiscal fourth quarter ending February 3, which would be up from $4.03 per share a year ago.
The company expects to end the fiscal year with about $3.5 billion in cash and cash equivalents, excluding Sears Canada, up from the $2.1 billion in cash it reported in November.
