Commenting on the second quarter and first half, Dene Rogers, President and Chief Executive Officer, Sears Canada Inc. said, "Our increase in revenues has shown improvement in both the quarter and the half, and we are pleased with the direction our same store sales have taken."
"Challenges in our women's apparel business in revenue and out-of-season inventory content were offset by improved performance in other departments, most notably in our big-ticket home and hardline areas."
"While we continue to conduct our business in an increasingly competitive marketplace, we are developing products, services and solutions that are aimed at improving the lives of our customers and building lifetime relationships with them."
"Earnings before interest, taxes, depreciation and amortization (EBITDA) excluding unusual items for the second quarter increased to $115.2 million from $101.4 million in 2006 and, for the first half of 2007, to $171.8 million from $140.6 million in 2006, an increase of 22.2%," continued Mr. Rogers.
"We owe a tribute to our associates from coast to coast who have worked tirelessly to improve the customer experience and responsibly manage expenses."
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