Home / Knowledge / News / Apparel/Garments / Sears Canada Q3 operating income up 15%

Sears Canada Q3 operating income up 15%

Oct '07
Sears Canada Inc announced its unaudited third quarter results. Total revenues for the 13-week period ended September 29, 2007 were $1.368 billion compared to $1.409 billion for the 13 weeks ended September 30, 2006, a decrease of 2.9%.

Same store sales, representing sales generated through operations in full-line, Sears Home, Dealer and Corbeil stores which were continuously open during the period this year and last year, decreased 3.6%. The Gross Margin rate was up slightly for the quarter.

Net earnings for the third quarter, including unusual items, were $105.2 million or 98 cents per share compared to $37.8 million or 35 cents per share in the same quarter last year, an increase in earnings of 178%. Net earnings for the quarter, excluding unusual items, were $47.2 million or 45 cents per share compared to $41.1 million or 38 cents per share in the quarter last year, an increase in earnings of 15%.

Unusual items in the third quarter of $58.0 million or 53 cents per share were principally related to previously announced property transactions including the Company's headquarters building.

Commenting on the third quarter, Dene Rogers, President and Chief Executive Officer, Sears Canada Inc, said, "The quarter had less favourable business conditions than we experienced at this time last year, most notably the unseasonably warm weather which affected our apparel categories, and the improvement in the value of the Canadian dollar in relation to the U.S. dollar and the increased interest in cross-border shopping. Throughout the quarter, our associates continued to focus on the customer and I thank them for their contribution."

Must ReadView All

Pic: Shutterstock

Textiles | On 18th Feb 2020

Turkey, Pak want to raise bilateral trade volume to $5 bn

Turkey and Pakistan want to raise bilateral commercial and economic...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

Bangladesh RMG exporters expect order shift from Cambodia

Bangladesh's readymade garment (RMG) exporters feel the suspension of ...

Pic: Shutterstock

Textiles | On 18th Feb 2020

IMF says Indian economic environment weaker than projected

There is an urgent need for more ambitious structural and financial...

Interviews View All

Evelyne Cholet, UCMTF

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Textile industry, Head honchos

Textile industry
Head honchos

GenNext is slowly but surely adapting to global trends and practices

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

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

Advanced Search