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Sears Canada Aug. sales up 8.6%

By Furniture Today Staff -- Furniture Today, September 16, 2001

TORONTO — TORONTO — August revenues for Sears Canada, the country's No. 1 furniture retailer, rose 6.5% to C$454.7 million and merchandise sales increased 8.6%, compared with a year earlier. Same-store sales were up 1.2%. Sales and revenues are for the four-week period ended Aug. 25.

Mark Cohen, chairman and chief executive officer, said, "Sales were very strong in our off-mall formats, particularly in Sears Furniture and Appliance stores and dealer stores."

He said the company expects net earnings per share for the third quarter to be 10 to 15 Canadian cents, compared with earnings of 34 cents per share a year ago. The quarter's forecasted earnings include a gain of 20 cents per share related to the sale of receivables.

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