Sears' Q4 Sales, Profit Plummet
Domestic same-store sales for the Hoffman Estates, IL, retailer, excluding the 53rd week in the fourth quarter of 2003, decreased 0.2 percent in fourth-quarter 2004.
Fourth-quarter profit totaled $378 million, down from $2.7 billion for the same period in the previous year. The prior-year total included the results of the domestic Credit and Financial Products and National Tire & Battery businesses, which were divested in 2003.
Also, Sears' annual sales totaled $35.7 billion for the 52 weeks ended Jan. 1 compared with $36.4 billion in the 53 weeks ended Jan. 3, 2004.