Sears Holdings, the parent of Sears and Kmart stores, warned that its fourth-quarter earnings could fall by as much as 51 percent per share versus last year. The new forecast, of $2.59 to $3.48 a share, compares with analysts’ estimates of $4.43. Sears same-store sales fell by 2.8 percent in the quarter, while Kmart’s fell by 4.2 percent. Sears said the shortfall means that it doesn’t have the cash to buy back shares as planned. Its quarter ends Feb. 2. (MarketWatch)
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January 14, 2008
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