At long last, Sears cost cuts yield profit

HOFFMAN ESTATES, Ill. — Sears Holding has posted its first profit in almost two years, aided by cost-cutting measures and the sale of the Craftsman line of tools. At the same time, sales for the quarter continued to decline, falling 12.4% at Sears stores and 11.2% at Kmart. Net income of $244-million, or $2.28 per share, fell within the company’s forecast.