Sears narrows loss in first quarter

TORONTO — Sales for Sears Canada Inc. tumbled by almost 10% in its first quarter. Total revenues for the period that ended May 2 were $697.2 million, down 9.7% from $771.7 million last year.  Same store sales decreased 4.3%.  The balance of the decrease in revenues was primarily attributable to lost revenues from store closings last year. The retailer’s net loss for the quarter was $59.1 million, compared to a  loss of $75.2 million last year.