August 20, 2014 / 11:19 AM / 3 years ago

Sears Canada reports loss, revenue slides 12 pct

Aug 20 (Reuters) - Struggling department store chain Sears Canada Inc reported a quarterly loss as sales declined.

The company reported a net loss of C$21.3 million, or 21 Canadian cents per share, for the second quarter ended Aug. 2 compared with a profit of C$152.8 million, or C$1.50 per share, a year earlier.

The year-ago quarter’s profit included a one-time pre-tax gain of $185.7 million.

Revenue fell 12 percent to C$845.8 million. Same store sales declined 6.8 percent.

The company, majority-owned by Sears Holdings Corp, partly blamed the slump on a relatively cold spring. (Reporting by Anannya Pramanick in Bangalore; Editing by Joyjeet Das)

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