Sears Holdings Corp fourth-quarter loss widens on a YOY basis
Source: IRIS | 14 Mar, 2017, 03.14PM
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 Sears Holdings Corporation (SHLD) saw its loss widen to $607 million, or $5.67 a share for the quarter ended Jan. 28, 2017. In the previous year period, the company reported a loss of $580 million, or $5.44 a share. On the other hand, adjusted net loss for the quarter narrowed to $137 million, or $1.28 a share from a loss of $181 million or $1.70 a share, a year ago. Revenue during the quarter dropped 17.13 percent to $6,052 million from $7,303 million in the previous year period. Gross margin for the quarter contracted 57 basis points over the previous year period to 21.27 percent. Operating margin for the quarter stood at negative 11.85 percent as compared to a negative 7.38 percent for the previous year period. Operating loss for the quarter was $717 million, compared with an operating loss of $539 million in the previous year period. However, the adjusted operating loss for the quarter stood at $110 million compared to operating loss of $215 million in prior year period. Edward S. Lampert, chairman and chief executive officer of Sears Holdings, said, “We delivered significant Adjusted EBITDA improvement in the fourth quarter, reflecting our firm focus on profitability to offset ongoing revenue pressures. Building on this positive momentum, we are taking decisive actions to become a more agile and competitive retailer with a clear path toward profitability.” Working capital drops significantly
Sears Holdings Corporation has witnessed a decline in the working capital over the last year. It stood at $315 million as at Jan. 28, 2017, down 48.11 percent or $292 million from $607 million on Jan. 30, 2016. Current ratio was at 1.07 as on Jan. 28, 2017, down from 1.11 on Jan. 30, 2016.
Debt increases substantially
Sears Holdings Corporation has witnessed an increase in total debt over the last one year. It stood at $4,163 million as on Jan. 28, 2017, up 39.89 percent or $1,187 million from $2,976 million on Jan. 30, 2016. Total debt was 44.47 percent of total assets as on Jan. 28, 2017, compared with 26.25 percent on Jan. 30, 2016. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
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