Struggling department store chain Sears Canada Inc is set to give a big payout to shareholders despite a bigger quarterly loss due to one-time charges related to restructuring and asset impairment.Sears Canada shares rose as much as 18 percent on Tuesday morning on the Toronto Stock Exchange after the company announced the special dividend and reported its first rise in quarterly same-store sales since 2008.The company is in the middle of a three-year turnaround plan, introduced in 2012 to boost sales and reclaim market share at a time when U.S. retailers such as Target Corp are building up their presence in Canada.The special dividend payment of C$5 per share, or C$509 million, reflected gains from recent asset sales and was largely expected by analysts.
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC traded higher by 7.08% or $1.19/share to $17.99. In the past year, the shares have traded as low as $11.31 and as high as $12.00. On average, 27117 shares of SCC.TO exchange hands on a given day and today's volume is recorded at 207198.
Target Corporation (Target) operates in three segments: U. Shares of TGT traded higher by 0.5% or $0.33/share to $66.78. In the past year, the shares have traded as low as $58.01 and as high as $73.50. On average, 4533860 shares of TGT exchange hands on a given day and today's volume is recorded at 726220.
Tuesday Morning Corporation is a closeout retailer of upscale decorative home accessories, housewares, and famous-maker gifts in the United States. Shares of TUES traded higher by 1.96% or $0.25/share to $13.02. In the past year, the shares have traded as low as $5.55 and as high as $15.74. On average, 527665 shares of TUES exchange hands on a given day and today's volume is recorded at 77199.
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