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Sears Canada posts bigger quarterly loss
December 9, 2016 / 2:37 PM / a year ago

Sears Canada posts bigger quarterly loss

Dec 9 (Reuters) - Department store operator Sears Canada Inc

reported a bigger third-quarter loss as same-store sales fell.

The company’s net loss widened to C$120 million ($91.09 million), or C$1.18 per share, in the quarter ended Oct. 29, from C$53.2 million, or 52 Canadian cents per share, a year earlier.

Sears Canada’s same-store sales fell 7.1 percent in the quarter, while overall revenue fell about 21 percent to C$625.2 million. ($1 = 1.3174 Canadian dollars) (Reporting by Vishaka George in Bengaluru; Editing by Saumyadeb Chakrabarty)

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