Sears Earnings Jump 28%; Retailer Credits Strong Sales

Sears, Roebuck and Co. Wednesday reported its fourth-quarter earnings rose 28 percent on strong sales of clothing and electronics.

For the three months ended Dec. 30, net income rose to $455 million, or $1.13 a share, from $356 million, or 90 cents a share, the same period a year earlier.

The year-ago period excludes a one-time gain of $134 million from the discontinued operations and $195 million for early debt retirement; including those gains, earnings fell 33 percent, from $685 million, or $1.74 per share.

The earnings were slightly below analysts’ expectations of $1.15 a share.

For the quarter, revenue rose 6.5 percent to $10.85 billion.

Sears, the nation’s second-largest retailer, said the gains were led by strong sales of such items as women’s dresses, cosmetics, jewelry and men’s fashions, as well as home electronics, appliances and exercise equipment.

“Sears’ performance in the quarter was outstanding, especially considering the tough retail climate during the holidays,” said Arthur C. Martinez, Sears chairman and chief executive.