Department store chain Sears Canada Inc , whose parent Sears Holdings Corp is looking to sell its stake in the company, posted a much bigger first-quarter loss as prolonged winter hurt sales.The company, which closed several stores last year as it tries to navigate a turnaround, said revenue fell 11 percent to C$771.7 million. Same-store sales fell 7.6 percent in the 13 weeks ended May 3."Sales of Spring merchandise were below last year, as winter-like weather was prevalent in most parts of the country well into the new season with cooler temperatures and significantly more snow in many areas," Chief Executive Douglas Campbell said.Sears Canada said earlier this year it plans to cut more than 1,600 jobs, or more than 7 percent of it workforce, this year as it reorganizes some of its business.
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC fell by 2.36% or $-0.37/share to $15.31. In the past year, the shares have traded as low as $8.84 and as high as $19.89. On average, 19700 shares of SCC.TO exchange hands on a given day and today's volume is recorded at 15340.
Sears Holdings Corporation (Holdings) is a retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Shares of SHLD fell by 4.24% or $-1.68/share to $37.95. In the past year, the shares have traded as low as $31.26 and as high as $67.50. On average, 1462220 shares of SHLD exchange hands on a given day and today's volume is recorded at 1964046.
Source
