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News > Companies  
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Sears 1Q profit higher
Retail chain says cost cutting offset lower sales, meets upwardly revised estimates.
April 18, 2002: 9:00 AM EDT

NEW YORK (CNN/Money) - Sears Roebuck & Co. posted sharply higher first-quarter earnings Thursday, in line with revised expectations, as cost cutting helped the retailer offset declining sales.

The department store chain said earnings excluding items jumped to $356 million, or 93 cents a share, from $272 million, or 45 cents, a year earlier. Analysts polled by earnings tracker First Call expected a profit of 93 cents a share.

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First-quarter sales slipped to $6.7 billion from $6.8 billion in the quarter.

Sears (S: Research, Estimates) shares slipped 54 cents to $53.71 in Wednesday trading.  Top of page






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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.