February 22, 2012 / 12:17 PM / in 6 years

Sears Canada 4th-qtr profit falls on lower sales

Feb 22 (Reuters) - Retailer Sears Canada Inc posted a lower fourth-quarter profit as sales at its established stores fell.

The department store chain, which is more than 90 percent owned by Sears Holdings Corp, said net income for the fourth quarter fell to C$38.7 million, or 36 Canadian cents a share, from C$82.7 million, or 77 Canadian cents a share, a year ago.

Revenue fell 6 percent to C$1.37 billion.

Sales at established stores, a key measure for retailers, fell 7.4 percent.

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