CANADA: Sears' Results Hit By Huge Rebranding Charge
Retail giant Sears Canada on Monday posted a steep first quarter loss of C$115.9 million (US$72.9m), as it was hit by a C$176m rebranding charge of its Eatons department-store chain. In the year-ago quarter Sears Canada posted a net loss of C$11.2m but said sales during the first quarter of 2002 slipped slightly to just over C$1.4 billion.
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