Our annual shareholder letter is a great opportunity to communicate ideas and actions that we are pursuing at Sears Holdings and the logic behind them. I strive to explain, rather than promote, because doing so gives you a framework from which to evaluate your investment and our overall performance. We are trying to create a great company that can stand the test of both good and bad times.
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Sears Holdings Corporation today reported its fourth quarter and full year 2008 results. Highlights for the quarter include:
1. Net income for the quarter of $190 million ($360 million excluding certain significant items) as compared to net income of $426 million in the fourth quarter of 2007
2. Fully diluted earnings per share for the quarter of $1.55 ($2.94 excluding certain significant items) as compared to fully diluted earnings per share of $3.17 in the fourth quarter of 2007
3. Adjusted EBITDA of $885 million in the fourth quarter as compared to $1.0 billion in the fourth quarter of 2007
4. Total impairment, store closing and severance charges of $336 million for the fourth quarter of fiscal 2008
Read the complete shareholder letter
Sears Holdings Corporation today reported its fourth quarter and full year 2008 results. Highlights for the quarter include:
1. Net income for the quarter of $190 million ($360 million excluding certain significant items) as compared to net income of $426 million in the fourth quarter of 2007
2. Fully diluted earnings per share for the quarter of $1.55 ($2.94 excluding certain significant items) as compared to fully diluted earnings per share of $3.17 in the fourth quarter of 2007
3. Adjusted EBITDA of $885 million in the fourth quarter as compared to $1.0 billion in the fourth quarter of 2007
4. Total impairment, store closing and severance charges of $336 million for the fourth quarter of fiscal 2008
