March 14 (Reuters) - Sears Holdings Corp’s fourth-quarter results showed a smaller-than-expected fall in comparable-store sales and a $470 million gain thanks to lower U.S. corporate tax rates, sending the retailer’s shares 7 percent higher on Wednesday.
In the surprise announcement, Sears said its comparable-store sales fell 15.6 percent in the quarter ended Feb. 3. Analysts on average had expected a 16.4 percent decline, according to Thomson Reuters I/B/E/S.
Sears reported a net income of $182 million or $1.69 per share, compared with a loss of $607 million or 5.67 per share a year earlier.
Revenue fell to $4.38 billion from $6.05 billion. (Reporting by Nivedita Balu in Bengaluru; Editing by Sai Sachin Ravikumar)