News

Sears Canada posts 4th-quarter profit of $23.2 million

TORONTO – TORONTO (AP) _ Sears Canada Inc. (SRSC) on Friday reported fiscal fourth-quarter net income of $23.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Toronto-based company said it had net income of 22 cents. Earnings, adjusted for non-recurring gains, came to 6 cents per share.

The retailer posted revenue of $665.1 million in the period.

For the year, the company reported that its loss narrowed to $53.2 million, or 52 cents per share. Revenue was reported as $2.46 billion.

The company’s shares closed at $2.43. A year ago, they were trading at $9.42.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SRSC at http://www.zacks.com/ap/SRSC

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Keywords: Sears Canada, Earnings Report