March 18 (Reuters) - Sears Canada Inc Says Has Implemented A
Zero SCC.TO
* Q4 earnings per share c$0.30
* Q4 same store sales fell 1.6 percent
* Leaseback of its calgary national logistics centre
* Expects to have vast majority of cost reduction program
implemented within q1 of 2016
* Sears canada inc says also announces loan processing and
servicing agreement with easyfinancial services inc
* Company is also reviewing costs and unit economics
associated with its direct business
* Entered into sale-leaseback agreement for $84 million for
its national logistics centre (nlc) located on dufferin place se
in calgary
* Sears canada reports fourth quarter results
* Q4 revenue fell 8.7 percent to c$887.6 million
* 2016 cost reduction initiatives
* Has identified additional sg&a reductions of $100 million
to $127 million for 2016 versus 2015 levels
* Expects to have vast majority of cost reduction program
implemented within q1 of 2016
* Based budgeting process that will continue to be
reinforced with a cultural focus on frugality
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