Filed under: Earnings reports, Bad news, Sears Holdings (SHLD)

Sears Holdings’ shares plunged $6.90 to $89.39 Monday at mid-day after the company announced that same store sales for the holiday period fell 3.5% and that Q4 earnings could be about 50% of last year’s Q4 profit.

Sears (NASDAQ: SHLD) now expects to earn $2.59-$3.48 per share for Q4 F2007. The Reuters Q4 F2007 consensus estimate is $4.43. Sears earned $5.33 per share during Q4 a year ago.

Sears said for the 9-week period ended January 5, same store sales fell 2.8% at Sears stores and 4.2% at Kmart stores. The company cited increased competition, the housing sector’s slowdown, and consumer credit concerns as reasons for the sales shortfall.

Another SHLD disappointment

Analyst C. Leonard Bauer told BloggingStocks on Monday that Sears’ announcement will not do much to increase Wall Street’s low confidence in the company’s prospect, at least short-term.

Continue reading Sears plunges 6% on weak holiday sales, lowered Q4 EPS guidance

Permalink | Email this | Comments

Share This

This entry was posted on Tuesday, January 15th, 2008 at 7:57 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.