Sears Canada Inc. Reports Unaudited Earnings Results for Third Quarter and Nine Months Ended October 31, 2016; Reports Impairment Losses for the Quarter Ended October 31, 2016
For the nine months, the company's net loss was CAD 275.2 million compared to CAD 98.8 million a year ago. Adjusted LBITDA was CAD 219.2 million compared to CAD 109.3 million a year ago. Basic net loss per share was CAD 2.70 million compared to CAD 0.97 million a year ago. Revenue was CAD 1,869.6 million compared to CAD 2,258.1 million a year ago. Operating loss was CAD 312.0 million compared to CAD 159.8 million a year ago. Loss before income taxes was CAD 270.0 million compared to CAD 93.1 million a year ago. Cash flow used for operating activities were CAD 343.6 million compared to CAD 281.2 million a year ago. Purchases of property, plant and equipment and intangible assets were CAD 15.4 million compared to CAD 30.1 million a year ago.
For the quarter, the company's impairment losses were CAD 17.4 million.