Sears Holdings Corp. shares rose 7.4% in the extended session Wednesday after the company reported earnings. The company reported fiscal fourth-quarter net income of $182 million, or $1.69 a share, compared with losses of $607 million, or $5.67 a share, in the year-ago period. Fourth quarter net income included a $470 million benefit due to the U.S. tax overhaul, and a $72 million charge related to the impairment of the Sears trade name. The company had previously guided for losses of $200 million to $300 million. Revenue fell to $4.38 billion from $6.05 billion in the year-ago period. Sears stock has dropped 73% in the past year, with the S&P 500 index rising 16%.
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