Sears Canada Swings To Q1 Profit

Sears Canada Inc SEARF swung to a first-quarter profit. Sears Canada posted its quarterly net income at C$93.1 million ($92.7 million), or 91 Canadian cents per share, versus a year-ago loss of C$47 million, or 45 Canadian cents per share. Its revenue dropped 8% to C$915.1 million. Sales at stores open at least a year declined 6.3%.