August 19, 2009 / 1:00 PM / 8 years ago

UPDATE 1-Recession, weather cool Sears Canada results

*EPS C$0.45 vs C$0.57

*Revenue drops 12 pct to C$1.25 bln

*Same store sales down 10

(Adds details)

TORONTO, Aug 19 (Reuters) - Sears Canada Inc SCC.TO said on Wednesday its quarterly profit dropped sharply as fragile consumer confidence and cool weather hurt sales at the country’s second-biggest department-store chain.

Sears Canada, which is majority owned by Sears Holdings Corp (SHLD.O), earned C$49.1 million ($44.3 million), or 45 Canadian cents a share, during its second quarter ended Aug. 1, down 20.2 percent from C$61.5 million, or 57 Canadian cents, for the same time last year.

Revenue dipped 12 percent to C$1.25 billion, as same-store sales, a key measure of the performance of stores open for at least a year, dropped 10 percent. ($1=$1.11 Canadian) (Reporting by Scott Anderson, editing by Gerald E. McCormick)

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