Shares of the chain surged more than 17 percent in heavy trading, leading the S&P Retail Index higher and pushing the company's stock back into positive territory for 2017. Shares had tumbled earlier this year, at one point losing 30 percent of their value in four days, after the retailer outlined plans to close 150 stores and lay off employees at remaining locations.
The stock closed the day up more than 15 percent, holding right above $9.
Though Sears on Thursday reported another quarterly loss, its results were an improvement over the prior-year period. The company lost an adjusted $1.28 per share during the fiscal fourth quarter, compared with a loss of $1.70 a year earlier.
Meanwhile, the company outlined plans to use some of the proceeds from its asset sales to fund payments to its pension plan.