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updated: 3/12/2013 7:14 AM

Sears Hometown and Outlet 4Q results rise

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  • ears Hometown and Outlet Stores Inc. said Tuesday that its fourth-quarter results climbed, helped by an extra week in the period compared with a year ago.

      ears Hometown and Outlet Stores Inc. said Tuesday that its fourth-quarter results climbed, helped by an extra week in the period compared with a year ago.
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Associated Press

HOFFMAN ESTATES -- Sears Hometown and Outlet Stores Inc. said Tuesday that its fourth-quarter results climbed, helped by an extra week in the period compared with a year ago.

The company, which was spun off from Sears Holdings Corp., mostly sells home appliances, hardware, tools and lawn and garden equipment.

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The company reported that its net income climbed 23 percent to $9.7 million, or 42 cents per share for the period ended Feb. 2. That compares with $7.9 million, or 34 cents per share, a year earlier.

Revenue rose about 7 percent to $631.2 million from $591 million a year ago. It credited the revenue increase mostly to sales captured during the extra week.

Revenue at stores open at least a year dipped 0.5 percent, with the Hometown and Hardware segment reporting a 0.8 percent rise and the Sears Outlet segment posting a 4.8 percent decline.

Taking out consumer electronics, revenue at stores open at least a year climbed 1.1 percent for the total company, led by appliances and mattresses. It rose 2.6 percent for the Hometown and Hardware unit.

Revenue at stores open at least a year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

For the fiscal year, the company's net income more than doubled to $60.1 million, or $2.60 per share, from $33.1 million, or $1.43 per share, in the previous year.

Revenue rose approximately 5 percent to $2.5 billion. The company said the results benefited from the extra week, a 0.6 percent rise in revenue at stores open at least a year, new stores and an increase in delivery revenues.

At the Hometown and Hardware segment, revenue at stores open at least a year climbed 1 percent. The figure fell 0.8 percent for the Sears Outlet division.

Its shares finished at $43 on Monday. They have traded in a 52-week range of $28 to $46.50.

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