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Tax law helps Sears swing to rare profit

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Helped by the U.S. tax overhaul, Sears posted a rare quarterly profit.

The company recorded fourth-quarter net income of $182 million, compared with a net loss of $607 million a year earlier.

Officials also announced Sears' long-term debt was cut down by $1 billion to $3.2 billion.

Read more from Bloomberg.

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