BUSINESS MEMO: SEARS SHOWS STRONG GAINS

Sears, Roebuck and Co. earnings rose 28 percent during the fourth quarter, showing strong gains in sales of electronics and clothing.

For the three months ended Dec. 30, net income rose to $455 million, or $1.13 a share, from $356 million, or 90 cents a share, the comparable period a year earlier. Revenue rose 6.5 percent to $10.85 billion from $10.19 billion.

Sears, the nation's third largest retailer, said the gains were led by strong sales of such items as women's dresses, cosmetics, jewelry and men's fashions, as well as home electronics, appliances and exercise equipment. The company was one of a few retailers to do well during the holiday season.

For the year, net income rose 20 percent to a record $1.03 billion, or $2.53 a share, from $857 million, or $2.13 a share, a year earlier. Revenues rose 5.8 percent to $34.93 billion from $33.03 billion.

Sears, headquartered in suburban Hoffman Estates, Ill., has 800 mall-based department stores and 1,500 free-standing stores.