Sears Canada posts loss; names CFO
New York -- Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.
Revenue fell more than 6% to C$867.1 million. Same-store sales fell 2.6%.
The company also named E.J. Bird as CFO. Bird was appointed interim CFO in March, two months after Sharon Driscoll resigned from the post.