One-Time Items Skew Sears' Q1 Results

Share this content:
Sears Canada's unaudited first-quarter results for the period ended March 29 included net earnings of $11.4 million compared with a net loss of $115.9 million for the same period last year.

However, earnings in the quarter included an after-tax gain of $4.3 million related to the sale of receivables through the company's securitization program. Last year's results included an after-tax expense of $124.3 million, related mainly to the conversion of the remaining Eaton's stores to the Sears banner. Excluding these non-comparable items, operating earnings in the quarter totaled $7.1 million versus $8.4 million last year.

Total revenue in the quarter was $1.28 billion versus $1.41 billion a year ago, representing an 8.7 percent drop as merchandise sales fell 12.7 percent and same-store sales were down 14.1 percent.


Next Article in Direct Mail

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above