Sears Canada Posts Loss In Q4 - Quick Facts

(RTTNews) - Multi-channel retailer Sears Canada Inc. (SCC.TO, SRSC) posted fourth-quarter 2014 net loss of C$123.6 million or C$1.21 per share, compared with net earnings of C$373.7 million or C$3.67 per share, last year.

The recent quarter's net loss included a pre-tax asset impairment charge of C$99.3 million related to leasehold improvements in full-line and Hometown stores, and intangible assets. The year-ago quarter's earnings included pre-tax gains of C$391.5 million related to early lease terminations and amendments, C$66.3 million related to the sale of the company's stake in certain real estate joint arrangements and C$42.5 million related to the settlement and amendment of retirement benefits. Also included in the net earnings for the fourth quarter of 2013 were pre-tax transformation expenses of C$51.2 million and a pre-tax asset impairment charge of C$11.2 million.

Total revenues for the 13-week period ended January 31, 2015 were C$972.5 million compared to C$1,182.3 million for the the fourth quarter of 2013, a decrease of 17.7%. Same-store sales for the quarter fell by 9.1%.