Sears fortunes continue to tumble in Q2

TORONTO — Sears Canada’s Q2 results indicate that the company is still on a slide. Revenue was $648.5 million in the second quarter, a decline of 15.6% compared to the same quarter last year. Same-store sales decreased by 5.5%, while core retail same store sales decreased by 6.2%. Some of the loss in same-store sales was due to a decrease in big-ticket transactions such as major appliances, and lower-than-expected sales of new merchandise programs that were launched this spring.