(Reuters) - Department store chain Sears Canada Inc's
Revenue at the company, which is struggling to turn around its business ahead of U.S. retailer Target Corp's
Net earnings fell to C$39.9 million ($38.8 million), or 39 Canadian cents per share, from C$41 million, or 39 Canadian cents per share, a year earlier.
Fourth-quarter profit included a pretax gain of C$29.7 million from the sale of a joint venture interest and a voluntary buyout program, the company said in a statement on Wednesday.
Adjusted EBIDTA fell 39 percent to C$62.4 million.
Parent Sears Holdings Corp
Sales at established stores, a key measure for retailers, fell 3.8 percent in the fourth quarter on lower sales of home electronics and snowblowers.
Sears Holding said in January that sales at the Canadian unit were affected by unseasonably warm temperatures in parts of Canada.
Rival retailer Canadian Tire Corp
Canadian retail sales plunged 2.1 percent in December amid slumping new-car sales and a weak Christmas shopping season, Statistics Canada said on Friday. Department store sales fell 9.6 percent.
Sears Canada's shares closed at C$9.30 on the Toronto Stock Exchange on Tuesday.
($1 = 1.0287 Canadian dollars)
(Reporting by Krithika Krishnamurthy in Bangalore; Editing by Don Sebastian)
Source: http://news.yahoo.com/sears-canada-profit-falls-weak-hardware-sales-120957546--sector.html
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