News

Two retailers, two vastly different quarterly results

TORONTO – Two Canadian retailers reported vastly different first-quarter earnings Wednesday, with Dollarama’s profits soaring as Sears Canada’s continued to sink. The first-quarter numbers:

Sales: Sears $595.5 million; Dollarama $641 million

Same-store sales: Sears down 7.4 per cent; Dollarama up 6.6 percent

Net profit: Sears reports a $63.6 million loss; Dollarama reports an $83.1 million profit

Market capitalization: Sears $389.1 million; Dollarama $11.33 billion

Employees: Sears 19,000; Dollarama 20,000

Stores: Sears 424; Dollarama 1,038