BRIEF-Sears Canada Q1 loss per share c$0.62

Wed Jun 8, 2016 8:12am EDT
 
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June 8 (Reuters) - Sears Canada Inc Says Appointment Of Billy Wong , Senior Vice

* Sears canada inc qtrly same store sales declined 7.4%

* Core retail same store sales declined 6.9% for q1

* Announced sale-leaseback of vancouver national logistics centre for $23.4 million

* Sears canada inc says has organized its operating and asset rationalization plans to end 2016 fiscal year with a pro forma cash balance of at least $400 million

* Expected that accounting for sale and leaseback will be finalized at closing, which is anticipated to be in q3 of 2016

* 2016 full-year annualized cost reduction plans have now been increased to a range of $127 to $155 million

* President, corporate financial planning, as interim cfo, effective july 1, 2016

* Sears canada reports first quarter results

* Q1 loss per share c$0.62

* Q1 revenue fell 14.5 percent to c$595.9 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom +1-646-223-8780)