1st Quarter 2017 – total sales declined a whopping 20.3 percent, to $4.30 billion; Earnings per share: an adjusted loss of $2.15; Same-store sales: 11.9 percent decline; June 22, 2017 announcement: Sears Holdings is closing 20 more stores in the US, in addition to the 245 closings already announced this year.
1st quarter 2017 – Net loss widened to $180 million; announced plans to close 138 stores in 2017; same-store sales fell 3.5 percent.
1st quarter 2017 – 39 percent drop in quarterly profit; net income fell to $71 million in the first quarter ended April 29, from $116 million a year earlier; Same-store sales declined 4.6 percent; planning to shut 100 stores in 2017.
For the fourth quarter of fiscal 2016, total revenues across all brands were down 2 percent to $695 million, with same-store sales down 5 percent. For the entire year, revenue declined 3 percent to $2.43 billion. Comparable company sales decreased 7 percent following a decrease of 8 percent last year. For the three months ended April 29, 2017, total revenues decreased 6% and comparable company sales decreased 9% .following a decrease of 7% in the first quarter last year. The company plans to shutter 20 stores this year.
ABERCROMBIE & FITCH (owns Abercrombie & Fitch, Abercrombie Kids and Hollister)
Company has seen comparable sales decline in 14 of the last 15 quarters; Net sales for the first quarter of $661.1 million were down 4% over last year, with same-store sales for the first quarter down 3%.; announced in May 2017 it had begun talks to sell itself as company’s shares were trading near a 17-year low.