TORONTO–Sears Canada recorded top and bottom line declines for the period ended Aug. 2.
Net earnings for the second quarter, fell to $61.1 million from $42.3 million in the year-ago quarter.
Sears Canada’s revenues slipped 1.6 percent, to $1.420 billion.
The retailer changed its year end to the Saturday closest to Jan. 31. Excluding the effect of the fiscal year change, revenues inched up 0.5 percent.
Same store sales increased 1.8 percent.
“Our same store sales compared to last year headed in a positive direction during the quarter despite depressed consumer confidence and a tougher economy,” said Dene Rogers, president and chief executive officer of Sears Canada, in a statement. “Challenges in our soft lines were offset by improved performance in our big-ticket areas.”