Sears Holdings Corporation Announces Executive Changes; Updates Earnings Guidance for the Fourth Quarter and Full Year Fiscal 2012
For the fourth quarter of fiscal 2012, the company expects adjusted EBITDA of between $365 million and $465 million as compared to $351 million last year ($254 million domestically and $97 million in Sears Canada), with domestic Adjusted EBITDA of between $325 million and $395 million. Net loss attributable to company' shareholders to be between $280 million and $360 million or between $2.64 and $3.40 loss per diluted share. Net income is expected to be between $132 million and $212 million, or between $1.25 and $2.00 per diluted share. The company expect to generate domestic EBITDA improvement for the fourth consecutive quarter, and have reduced net debt by $400 million as of December 29, 2012.
For the fiscal year 2012, the company expects adjusted EBITDA of between $560 million and $660 million as compared to $277 million last year ($176 million domestically and $101 million in Sears Canada). Net loss attributable to company' shareholders to be between $721 million and $801 million, or between $6.80 and $7.56 loss per diluted share. Net loss is expected to be between $123 million and $203 million, or between $1.16 and $1.92 loss per diluted share.