Today’s “WTF” Stock Moment
[[SHLD]] – Sears Holding Corporation
The stock is up 22% in afterhours trading to $62.
For the quarter ended May 2, the retailer reported profit of $26 million, or 21 cents a share, compared with a year-earlier loss of $56 million, or 43 cents a share, a year earlier. Revenue declined 9.2% to $10.06 billion, while sales at U.S. stores open at least a year fell 7.4%.
Analysts’ estimates were for a loss of 88 cents a share on revenue of $10.06 billion, according to a poll by Thomson Reuters.
Gross margin rose to 28.6% from 27.3%, while inventory fell 8.2%. U.S. overhead costs fell 6.7%.
Sears is such a sad place… I digress.
Current price-to-earnings ratio is 98 to 120, depending on the source and calculation method. And here are some other stats: