March 18, 2016 / 11:48 AM / a year ago

BRIEF-Sears Canada Inc Q4 earnings per share C$0.30

2 Min Read

March 18 (Reuters) - Sears Canada Inc Says Has Implemented A Zero

* Q4 earnings per share c$0.30

* Q4 same store sales fell 1.6 percent

* Leaseback of its calgary national logistics centre

* Expects to have vast majority of cost reduction program implemented within q1 of 2016

* Sears canada inc says also announces loan processing and servicing agreement with easyfinancial services inc

* Company is also reviewing costs and unit economics associated with its direct business

* Entered into sale-leaseback agreement for $84 million for its national logistics centre (nlc) located on dufferin place se in calgary

* Sears canada reports fourth quarter results

* Q4 revenue fell 8.7 percent to c$887.6 million

* 2016 cost reduction initiatives

* Has identified additional sg&a reductions of $100 million to $127 million for 2016 versus 2015 levels

* Expects to have vast majority of cost reduction program implemented within q1 of 2016

* Based budgeting process that will continue to be reinforced with a cultural focus on frugality Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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