Sears Canada's quarterly same-store sales fall

Wed Feb 26, 2014 7:39am EST

Feb 26 (Reuters) - Struggling department store operator Sears Canada Inc posted a fall in quarterly same-store sales due to severe winter weather and power outages.

The company, controlled by Sears Holdings Corp, said same-store sales fell 6.4 percent in the fourth quarter ended Feb. 1.

Net income rose to C$373.7 million ($337 million), or C$3.67 per share, in the quarter from C$39.9 million, or 39 Canadian cents per share, helped mainly by a pretax gain related to early lease terminations and amendments.

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