Sears Canada loss narrows; sales drop

Tue Nov 13, 2012 7:17am EST
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Nov 13 (Reuters) - Sears Canada Inc reported a smaller quarterly loss on Tuesday even as its sales slid.

The net loss for the third quarter ended on Oct. 27 narrowed to C$21.9 million, or 22 Canadian cents a share, from C$44.1 million, or 42 Canadian cents a share, a year earlier.

Revenue fell 6.8 percent to C$1.04 billion, and sales at established stores, a key measure for retailers, dropped 5.7 percent.