Sears 1st-Qtr Profit Exceeds Estimates

Sears Holdings Corp., the largest U.S. department-store company, posted fiscal first-quarter profit that exceeded analyst estimates after reducing expenses. The shares rose as much as 9.5 percent.

Net income was $180 million, or $1.14 a share, Hoffman Estates, Illinois-based Sears said today in a statement. The average estimate of analysts surveyed by Thomson Financial was 65 cents a share. Revenue was $12 billion.