Sears Canada Q3 Loss Narrows Despite Lower Sales - Quick Facts

(RTTNews) - Sears Canada Inc. (SCC.TO, SRSC) reported a net loss for the third quarter that narrowed from last year as a decline in sales was more than offset by lower costs and expenses.

The company's third-quarter net loss was C$53.2 million or C$0.52 per share, narrower than net loss of C$118.7 million or C$1.16 per share in the same period last year.

Adjusted EBITDA for the quarter was a loss of C$31.7 million compared to loss of C$19.4 million in the prior-year period.

Total revenues for the quarter declined 5.1 percent to C$792.1 million from C$833.6 million in the year-ago period.

Same store sales for the quarter increased by 0.4 percent, primarily due to the performance of major appliances, furniture and mattresses.