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CHICAGO Sears, Roebuck and Co. today reported net income of $192 million for the first quarter ending March 29, compared with $110 million in the same period last year.
The Hoffman Estates, Ill.-based retailer also reported a drop in sales and an operating loss of $23 million for the first quarter.
“Substantial progress was made in merchandise repositioning efforts with the launch of the Whole Home brand in home fashions and the continued rollout of Lands’ End,” said Alan Lacy, Sears’ chairman and chief executive officer, in an investors’ conference call.
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