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Sears Gets A Boost In Fourth Quarter

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Sears Gets A Boost In Fourth Quarter

Photo by Andy Callahan

Sears Holdings based in Chicago’s northwest suburbs is reporting a boost in profits for the fourth quarter. This comes just a day after the company announced it would close 21 stores around the country.

Sears Holdings has been struggling for years with customers skipping over the brand for its competitors. But the company got some encouragement from their fourth quarter report. The owner of Sears and Kmart stores says it earned $430 million. Its share price jumped to $3.74 up from $1.55 a year ago. Revenue dipped less than 1 percent to just more than $13 billion.

Kmart shoppers helped the parent company pull up its profits. In the fall, business began to turn around when sales at the chain stores rose for the first time since 2002 and then continued to grow. The earnings report is Sears best fourth quarter in three years.

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