BUSINESS MEMO: SEARS EARNINGS

Sears, Roebuck and Co. of Chicago, the nation's second-largest retailer, reported strong second-quarter profits nearly tripling amid strong sales at its stores.

For the three months ended June 30, the Hoffman Estates, Ill.-based retailer recorded net income of $336 million, or 85 cents a diluted share, compared to $117 million, or 29 cents a diluted share, the year-earlier period.

Revenues rose 5.6 percent to $10.3 billion from $9.7 billion. Sales at stores open at least a year, an industry measure of performance, rose 2.9 percent, amid strong revenues growth in nearly all departments of Sears' full-line stores.

For the first half of the year, net income was $469 million, or $1.19 a diluted share, up from $299 million, or 75 cents a diluted share, the year-ago period.

Revenues rose 5.3 percent to $19.4 billion from $18.4 billion.