Sears Canada Inc posted its steepest fall in quarterly sales in almost five years, denting the struggling department store chain's turnaround efforts.Sears Canada's shares were little changed, but shares of Sears Holdings Corp, which said last week it was looking to sell its 51 percent stake in Sears Canada, fell as much as 4.7 percent.Sears Canada, whose sales have declined for six straight years, echoed its Canadian rivals in blaming a prolonged winter in the country for its net loss more than doubling in the first quarter 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," CEO Douglas Campbell said in a statement.
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC fell by 0.72% or $-0.11/share to $15.20. 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 9043.
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 3.64% or $-1.38/share to $36.57. 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 1414603.
Source
