Sears Canada reports loss, revenue slides 12 percent: Reuters
Struggling department store chain Sears Canada Inc reported its ninth loss in 14 quarters as sales continued to decline, Reuters reported. Same-store sales fell 6.8 percent in the second quarter ended August 2nd. Same-store sales at Sears's home and hardlines business dropped 9.3 percent. Earlier this month, it was reported that U.S. private equity firm Sycamore Partners was considering a bid for Sears Canada. A possible deal could fetch up to US$2 billion.
21 August 2014•2 mins read
