UPDATE 1-Sears Canada’s earnings jump on lower expenses

* EPS C$1.19 vs C$0.92

* Revenue down 5.6 percent

* Same store sales drop 1.7 percent

(Adds details)

TORONTO, Feb 23 (BestGrowthStock) – Sears Canada Inc (SCC.TO: ), the
country’s No. 2 department-store chain, said on Tuesday its
quarterly profit jumped 29 percent helped by lower expenses.

Sears Canada, which is majority owned by Sears Holdings
Corp (SHLD.O: ), earned C$128.2 million ($122.8 million), or
C$1.19 a share, in the fourth quarter ended Jan. 30, up from
from C$99.1 million, or 92 Canadian cents a share, a year
earlier.

Revenue fell 5.6 percent to C$1.53 billion as stores at
open for at least a year, a key performance measure known as
same-store sales, dropped 1.7 percent.

Investing

($1=$1.04 Canadian)
(Reporting by Scott Anderson)

UPDATE 1-Sears Canada’s earnings jump on lower expenses