Sears Canada posts loss as sales fall 15.6 pct

Wed Sep 7, 2016 7:21am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Sept 7 (Reuters) - Canadian department store operator Sears Canada Inc reported a quarterly loss, compared with a year-earlier profit, hurt by a 15.6 percent fall in sales.

The company posted a net loss of C$91.6 million ($71.32 million), or 90 Canadian cents per share, for the second quarter ended July 30, compared with a profit of C$13.5 million, or 13 Canadian cents per share, a year earlier.

The year-earlier quarter included a gain of C$67.2 million as a result of sale-and-leaseback transactions.

Revenue fell to C$648.5 million from C$768.8 million. ($1 = 1.2844 Canadian dollars) (Reporting by Anet Josline Pinto in Bengaluru; Editing by Shounak Dasgupta)