Sears Canada posts loss as sales fall

Tue Nov 18, 2014 7:09am EST
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Nov 18 (Reuters) - Sears Canada Inc reported its third straight quarterly loss, as sales continued to decline at the struggling department store chain.

Net loss widened to C$118.7 million ($105.23 million), or C$1.16 per share, in the third quarter ended Nov. 1, from C$48.8 million, or 48 Canadian cents per share, a year earlier.

The company, in which Sears Holdings Corp has a stake, said revenue fell 15 percent to C$834.5 million.

Same store sales declined 9.5 percent. ($1 = 1.1280 Canadian dollar) (Reporting By Tanvi Mehta and Manya Venkatesh in Bangalore)