Sears Holding Corp. (SHLD)
by Zacks Equity ResearchJune 01, 2012 | Comments : 0 Recommended this article: (0)
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Despite a marginal decline of 2.8% in top line, Sears first-quarter 2012 loss per share narrowed to $0.31 from $1.34 in the prior-year period and fared better than the Zacks Consensus estimate of a loss of $0.59. The improved results were primarily driven by its ongoing cost reduction, inventory management, strengthening liquidity strategies and merchandise initiatives. Moreover, adjusted EBITDA margin expanded 150 basis points to 2.1% from 0.6% in the prior-year quarter.
Apart from this, Sears has been focusing on improving margins through leverage on buying and occupancy expenses. Further, we believe lowering its stake in Sears Canada will strengthen its liquidity position while boosting future growth prospects.
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