Home / Knowledge / News / Sears increases Q1 operating EBITDA 16% on comparable basis
Sears increases Q1 operating EBITDA 16% on comparable basis
28
May '08
Sears Canada Inc announced its unaudited first quarter results. Total revenues for the 13 week period ended May 3, 2008 were $1.254 billion compared to $1.219 billion for the 13 week period ended March 31, 2007, an increase of 2.9%. Same store sales, for the 13 week period ending May 3, 2008 compared to the 13 week period ending May 5, 2007, decreased 1.9%.

Net earnings for the quarter, excluding unusual items, were $34.8 million or 33 cents per share compared to $5.0 million or 4 cents per share for the first quarter last year, which ended March 31, 2007. Net earnings for the quarter, including unusual items, were $63.1 million or 59 cents per share compared to $14.3 million or 13 cents per share in the first quarter last year, which ended March 31, 2007.

Operating EBITDA (Earnings before interest, taxes, depreciation and amortization), before unusual items, increased to $83.1 million compared to $52.2 million in the first quarter of last year, which ended March 31, 2007. Compared to the similar 13-week period of 2007 (ended April 28, 2007), operating EBITDA, before unusual items, increased by 16.1% to $83.1 million versus $71.6 million last year. Operating EBITDA is a non-GAAP measure; please refer to the Reconciliation of net earnings to operating EBITDA attached.

Commenting on the quarter, Dene Rogers, President and Chief Executive Officer, Sears Canada Inc., said, "A longer winter with more snow and colder weather in many parts of the country than last year together with an early Easter adversely affected sales of seasonal products.

Better management of inventory and solid performances in many non-retail businesses enabled us to deliver a significant improvement in results. As always, I would like to thank our 35,000 associates for their contribution to Sears and its customers as we continue to offer products and services that improve the lives of our customers."

Sears Canada Inc


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search