Sears Posts Second-Quarter Profit on Gain From Real Estate

Sears Holdings Corp., the retailer run by hedge fund manager Edward Lampert, posted a second-quarter profit, helped by proceeds from property sales, even as revenue from its stores slumped again.

Sears earned $208 million, or $1.84 a share, versus a loss of $573 million, or $5.39, a year earlier, Hoffman Estates, Illinois-based Sears said in a statement Thursday. The quarter included a $508 million gain from the sale of stores to Seritage Growth Properties, the real estate investment trust that Sears spun off in July. Excluding the gain and other items, Sears lost $256 million.