Sears Canada doubles losses

TORONTO — Sears Canada posted total revenues of $834.5 million compared to $982.3 million for last year’s third quarter. Same store sales decreased by 9.5%. The company attributed the balance of the drop to revenues from stores closed as a result of early termination and amendment of full-line store leases, and the sale of certain joint arrangement interests last year. The net loss for the third quarter of 2014 was $118.7 million or $1.16 per share compared to a net loss of $48.8 million or 48 cents per share for the third quarter of last year.​