Sears Canada posts loss, names CFO
May 22 (Reuters) - Department store chain Sears Canada Inc posted a loss in the first quarter compared with a profit last year, and named E.J. Bird as chief financial officer.
Bird was appointed interim chief financial officer on March 12.
The company reported a net loss of C$31.2 million ($30.3 million), or 31 Canadian cents per share, compared with a net profit of C$93.1 million, or 91 Canadian cents per share, a year earlier.
Last year's results included a pre-tax gain of C$164.3 million on lease terminations.
Revenue fell more than 6 percent to C$867.1 million.
Sales at established stores, a key measure for retailers, fell 2.6 percent.
- Target holiday cyber breach hits 40 million payment cards
- Housing, jobs data weaken, but overall economic picture still upbeat
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion
- Special Report: Why Ukraine spurned the EU and embraced Russia