Last C$13.96 CAD
Change Today -0.29 / -2.04%
Volume 12.4K
SCC On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 4:26 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

sears canada inc (SCC) Snapshot

Open
C$14.16
Previous Close
C$14.25
Day High
C$14.21
Day Low
C$13.62
52 Week High
03/20/14 - C$17.14
52 Week Low
09/25/13 - C$8.81
Market Cap
1.4B
Average Volume 10 Days
22.2K
EPS TTM
C$-0.21
Shares Outstanding
101.9M
EX-Date
12/9/13
P/E TM
--
Dividend
--
Dividend Yield
35.82%
Current Stock Chart for SEARS CANADA INC (SCC)

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sears canada inc (SCC) Details

Sears Canada Inc. operates as a multi-format retailer in Canada. The company operates in two segments, Merchandising and Real Estate Joint Arrangements. It operates department stores that offer women’s apparel, men’s and children’s apparel, nursery products, cosmetics, jewelry, footwear, and accessories; and home and hardlines, including home furnishings and mattresses, home decors, lawn and garden products, hardware products, electronics and leisure products, and seasonal products, as well as provides appliances comprising refrigeration, laundry, floor care, and sewing products. The company also operates home stores, which offer appliances and electronics; and home improvement products, as well as provides travel and logistics services. In addition, it operates dealer stores that offer appliances, furniture, home electronics, and outdoor power equipment; outlet stores that offer clearance merchandise; appliances and mattresses stores that provide appliances, mattresses, box-springs, and products of private labels; and a chain of appliance specialty stores under the Corbeil name. Further, the company has joint arrangement interests in three shopping centers. Sears Canada Inc. offers its products directly through telephone, mail, fax, and online at sears.ca, as well as through its stores and catalogue agents. As of August 22, 2014, it operated a network of 176 corporate stores, 222 Hometown stores, approximately 1,300 catalogue and online merchandise pick-up locations, 96 Sears Travel offices, and a repair and service network. The company was formerly known as Simpsons-Sears Limited and changed its name to Sears Canada Inc. in May 1984. The company was founded in 1952 and is headquartered in Toronto, Ontario. Sears Canada Inc. is a subsidiary of Sears Holdings Corporation.

25,246 Employees
Last Reported Date: 03/14/14
Founded in 1952

sears canada inc (SCC) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$654.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$731.3K
Chief Operating Officer, Executive Vice-Presi...
Total Annual Compensation: C$562.5K
Executive Vice-President of Financial Service...
Total Annual Compensation: C$522.9K
Interim Chief Information Officer and Senior ...
Total Annual Compensation: C$404.3K
Compensation as of Fiscal Year 2013.

sears canada inc (SCC) Key Developments

Court Allows $100 Million Class Action Suit to Proceed Against Sears Canada Inc. and Sears Roebuck and Co. over Alleged Breaches of Ontario Franchise Legislation and Dealer Contracts

Court allows $100 million class action suit to proceed against Sears Canada Inc. and Sears Roebuck and Co. over alleged breaches of Ontario franchise legislation and dealer contracts. An Ontario court granted class action status to a lawsuit brought by over 250 current and former operators of "Sears Hometown Stores". The lawsuit, seeking $100 million in damages, claims that Sears Canada Inc. and Sears Roebuck and Co. (Sears) breached provincial franchise laws and the plaintiffs' rights under the common law by making it virtually impossible for them to operate their Hometown Stores profitably. The suit alleges that Sears earns high profit margins on sales of goods to the dealers while simultaneously downloading a disproportionate share of the costs associated with retail and product handling onto the same dealers. It is alleged that this business model, which enriches Sears at the expense of the dealers, is perpetuated by Sears using a number of means including: concealing the economic reality of the Hometown store program from prospective dealers and competing against dealers in their territory through online sales. Sears denies the allegations and has blamed the dealers' woes on the competitive retail environment in which the stores operate. In a twenty-two page decision, the Honourable Justice Gray certified a number of common issues, two of which relate to whether Sears breached its obligation to exercise contractual discretion in good faith and whether Sears was unjustly enriched by the way they operated the Hometown store business model.

Sears Canada Announces Opening of New Fulfillment Centre in Calgary

Sears Canada Inc. announced the opening of a new 240,000-square foot fulfillment centre located in Calgary, Alberta. The site will create approximately 200 new jobs. The Calgary fulfillment centre will be a modern operation with advanced product and packaging systems that will facilitate faster processing of customer orders. The fulfillment centre will pick, pack and ship small-ticket items such as apparel, home décor, small appliances and toys for customers in Western Canada who use Sears Direct channel, which includes the company's various catalogues and ecommerce offering. The new facility is expected to reduce delivery time to most western Canadian customers by an average of 1-2 days over the Company's previous arrangements. One of the first big tasks for this new advanced facility will be to fulfill orders from the iconic Christmas Wish Book, which launches on August 23, 2014.

Sears Canada Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 2, 2014; Reports Goodwill Impairment and Other Asset Impairment for the Second Quarter of 2014

Sears Canada Inc. announced unaudited consolidated earnings results for the second quarter and six months ended August 2, 2014. Total revenues for the 13-week period ended August 2, 2014 was CAD 845.8 million compared to CAD 960.1 million for the 13-week period ended August 3, 2013, a decrease of 11.9%. Same store sales declined 6.8%. The balance of the decrease in Revenue was primarily attributable to revenues from stores closed as a result of early termination and amendment of certain full-line store leases and the sale of joint arrangement interests in Fiscal 2013. The net loss for the second quarter of this year was CAD 21.3 million or 21 cents per share compared to net earnings of CAD 152.8 million or CAD 1.50 per share for the second quarter of last year. Included in the net loss for the second quarter of this year were pre-tax transformation expenses of CAD 7.9 million related primarily to severance costs incurred during the quarter. Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the second quarter of this year was a loss of CAD 16.1 million compared to an adjusted EBITDA of CAD 20.2 million for the second quarter of last year. Operating loss was CAD 64.2 million against CAD 5.3 million a year ago. Loss before income taxes was CAD 33.3 million against earnings before income taxes of CAD 178.0 million a year ago. Cash flows used in operating activities was CAD 24.7 million against cash generated from operating activities of CAD 31.8 million a year ago. Purchases of property, plant and equipment and intangible assets were CAD 10.0 million against CAD 11.4 million a year ago. Total revenues for the 26-week period ended August 2, 2014 were CAD 1,617.5 million compared to CAD 1,827.2 million for the 26-week period ended August 3, 2013, a decrease of 11.5%. Same store sales decreased 7.1%. The balance of the decrease in Revenue was primarily attributable to revenues from stores closed as a result of early termination and amendment of certain full-line store leases and the sale of certain joint arrangement interests in Fiscal 2013. The net loss for the first half of this year was CAD 96.5 million or 95 cents per share compared to net earnings of CAD 121.6 million or CAD 1.19 per share for the first half of last year. Adjusted EBITDA for the first half of this year was a loss of CAD 74.2 million compared to an adjusted EBITDA of CAD 10.4 million for the first half of last year. Operating loss was CAD 163.9 million against CAD 46.8 million a year ago. Loss before income taxes was CAD 135.6 million against earnings before income taxes of CAD 134.6 million a year ago. Cash flows used in operating activities was CAD 253.1 million against CAD 87.8 million a year ago. Purchases of property, plant and equipment and intangible assets were CAD 20.5 million against CAD 18.1 million a year ago. For the quarter, the company reported goodwill impairment of CAD 2.6 million and other asset impairment of CAD 15.7 million.

 

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Industry Analysis

SCC

Industry Average

Valuation SCC Industry Range
Price/Earnings 6.2x
Price/Sales 0.4x
Price/Book 1.5x
Price/Cash Flow 6.2x
TEV/Sales 0.3x
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