Sears Canada swings to profit in 1Q
HTT Staff -- Home Textiles Today, 5/16/2012 12:21:11 PM
Toronto - Sears Canada reported a first quarter profit of $93.1 million, or 91 cents per share, compared to a net low in the year-ago quarter of $47.0 million, or 45 cents per share.
Revenue for the quarter ended April 28 fell 7.8% to $951.1 million, with comps down 6.3%.
"Although not reflected in our top line sales, there are positive signs of progress in many areas of our business," commented Calvin McDonald, president and ceo.
During the quarter, Sears Canada lowered prices on more than 5,000 items and launched the Look campaign to emphasis value and position itself as the authority on fashion apparel trends.
Major appliances and mattresses were the top performing categories, said McDonald.
We would love your feedback!
-
Sears Loss Widens as Sales Decline
Dec 30, 2012 -
Sears loss widens as sales decline
Nov 16, 2012 -
Belk moves into positive territory in 3Q
Nov 23, 2011
Featured Company
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
