Sears Holdings (NASDAQ:SHLD) is expected to report Q2 earnings Thursday, Aug. 28 before market open.
Analysts are looking for a profit of 33c on revenue of $11.71B. The consensus range is (4c) to 79c for EPS, and revenue of $11.5B to $11.95B, according to First Call.
The company recently announced that Maureen McGuire, its Chief Marketing Officer, resigned; Richard Gerstein, senior vice president, will take over for McGuire. Additionally, Stu Reed, the former head of Motorola's (MOT) mobile devices business, will become senior vice president of the company's home services unit and Guenther Trieb will be in charge of the Craftsman, Diehard and Kenmore brands.
In May, Sears reported a much wider-than-expected Q1 loss of (53c) vs. First Call consensus of 15c, and because of the tough economic environment, analysts are expecting Q2 to be similar. The company is currently looking to reduce costs and is dealing with weak sales as a result of decreased spending on discretionary items as well as soaring food and gas prices, limited credit, slumping home prices and worries about jobs. Instead of spending at department stores, consumers are flocking to wholesale clubs and discount apparel chains. Sears is also in the process of separating its operations into five types of units in an effort to allow the units to operate more efficiently.