Sept 2 (Reuters) - Sears Canada Inc SCC.TO :
* Reports second quarter results
* Q2 earnings per share C$0.13
* Q2 revenue fell 9.1 percent to C$768.8 million
* Q2 same store sales fell 3.9 percent
* Same store sales trend in core retail store network turned positive in the
month of June
* Same store sales for the company's core retail store network were negative 1%
for the full quarter
* Says "company continues its efforts on the CEO search"
* Qtrly reported gross margin rate 32.8% versus 33.3%
* Implementing cost reduction program to reduce recurring operating expenses by
$100 million to $125 million on an annualized basis
* Expect to implement most of cost-reduction initiatives in the third quarter
of 2015
* Estimated one-time costs of cost reduction implementation are approximately
$15 million to $20 million
* Have reached agreements to monetize an additional $28 million of non-core,
non-mall real estate
* Over last 60 days, have worked with 12 key suppliers to reach commitments to
open over 200 vendor-branded shop-in-shops in our stores
* Expect to partner with key vendors to carry the products canadians want, and
to form vendor-branded shop-in-shop concepts"
* Says "at the current time, we do not have any plans to sell or exit any of
our full-line stores"
* Source text for Eikon ID:nCNW0798sa
* Further company coverage SCC.TO