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June 6, 2014
06:03 EDTSHOSSears Hometown and Outlet reports Q1 EPS 16c vs. 65c last year
Reports Q1 revenue $589.9M vs. $601.12M last year. Comparable store sales decreased 6.2%. The company said, "First quarter results were affected by three main factors: weather--for the second year in a row, lawn and garden sales were negatively impacted by an unseasonably cold spring in many of our trade areas that dampened sales in March and April, following a very cold February that reduced overall store traffic and sales; continued lower margins in Outlet due to insufficient quantities of higher-margin, 'as-is' appliances; and a heavily promotional appliance retail environment where appliance retailers layered free delivery on top of discounted pricing."
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