Sears Holdings Corp Misses Estimates, Best Buy Co Inc Beats But Shares Fall

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Sears Holdings Corp Misses Estimates, Best Buy Co Inc Beats But Shares Fall
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Sears and Best Buy released their latest earnings reports before opening bell this morning. Best Buy posted adjusted earnings of $1.53 per share, which beat the consensus of $1.39, on $13.6 billion in revenue, which also met consensus. In the year-ago quarter, the electronics retailer posted non-GAAP earnings of $1.48 per share and revenue of $14.2 billion.

Sears reported losses of $1.70 per share and $7.3 billion in revenue, against Wall Street’s estimates of $1.36 per share in losses and $7.26 billion in sales. In the previous year’s fourth quarter, the retail chain posted losses of 34 cents per share and $8.1 billion in sales.

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