Sears Canada said Friday it saw its third-quarter loss more than double to $120.0 million from $53.2 million during the same period last year as revenue declined.
The loss amounted to $1.18 per share, compared with 52 cents per share a year ago.
Quarterly revenue was $625.2 million, down 21.1 per cent compared to the third quarter of 2015, when the company had $792.1 million in revenue.
"We have much work to do and are fully committed to driving necessary change," Brandon G. Stranzl, executive chairman, said in a statement.
Same-store sales at Sears Canada (TSX:SCC) — those at locations open during the third quarters of 2015 and 2016 — totalled $507.5 million. That's down from $616.8 million last year when the company had more shops.
It operates 211 corporate and hometown stores, down from 306 in the same quarter last year, according to Sears Canada statements.