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Sears Canada loss widens in Q2; looking for opportunities to refresh stores


Toronto -- Sears Canada reported Wednesday a loss of $9.8 million in the second quarter, widened from a loss of $200,000 in the year-ago period.

Revenue fell 8.5% to $1.050 billion, from $1.148 billion. Same-store sales dropped 7.1%.

The retailer attributed much of the problem to warm, dry weather in many areas of Canada, which impacted sales of outdoor power equipment.

"While we are not pleased with our quarterly sales results, we continued to implement key transformation initiatives," said Calvin McDonald, CEO. “Of note was the performance in our apparel departments, which received a significant portion of our investment. We are exploring other possible locations across Canada to refresh.”

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