Sears boosts Q3 sales against declining revenue

TORONTO ― Sears Canada reported a 0.4% rise in same-store sales compared to Q3 of 2014, while revenues of $792.1 million represented a 5.1% drop from the same period. The difference between the decline in revenue and the increase in same-store sales was primarily due to store exits since last year and declines in the company’s direct business. In the core retail network, sales were up 2.7% for the quarter, and were positive for each month within the quarter, as well as across both the Apparel & Accessories category and the Home & Hardlines category. In announcing the results, Sears noted the appointment last month of Carrie Kirkman as president and chief merchant.