Sears Canada posts bigger quarterly loss

Wed Jun 8, 2016 8:09am EDT
 
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June 8 (Reuters) - Canadian department store operator Sears Canada Inc reported a bigger quarterly loss, hurt by a continued drop in sales.

The company's net loss in the first quarter ended April 30 widened to C$63.6 million ($50.2 million), or 62 Canadian cents per share, from C$59.1 million, or 58 Canadian cents, a year earlier.

Revenue fell 14.5 percent to C$595.9 million.

($1 = 1.2659 Canadian dollars) (Reporting by Amrutha Gayathri in Bengaluru; Editing by Maju Samuel)