Everyone is missing a critical point about Sears' first quarter profit (SHLD)

pulse

May 25, 2017 3:24 PM

Sears profit was a direct result of the sale of its Craftsman brand. The retailers' core business is showing no signs of rebounding.

A customers enters the Sears store in North Vancouver, British Columbia

Sears Holdings Corp reported its first quarterly profit in nearly two years, sending shares soaring by as much as 20% Thursday morning.

Specifically, the company negotiated a deal to delay a majority of its repayment for a $500 million secured loan facility until January, with the option to extend that deadline by another six months.

The repayment was originally due in July. Sears will now pay $100 million in July, instead of the full amount.

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