Q1 net loss more than doubles for Sears Canada

TORONTO — Sales for Sears Canada continue to slip. Total revenues for the first quarter ended May 3 dropped 11.0% to $771.7 million, from $867.1 million a year earlier. Same-store sales decreased 7.6%. The balance of the change in revenues is primarily attributable to lost sales from store closures in fiscal 2013. The company’s net loss more than doubled—to $75.2 million from a net loss of $31.2 million during the same period last year.