Sears Canada Posts Narrower Q3 Loss

Sears Canada SEARF reported a narrower third-quarter loss. Sears Canada posted a quarterly net loss of C$21.9 million, or 22 Canadian cents per share, versus a year-ago loss of C$44.1 million, or 42 Canadian cents per share. Its revenue dropped 6.8% to C$1.04 billion, while sales at stores open at least a year declined 5.7%. Sears Canada shares closed at $12.26 yesterday.