Sears Canada Inc. is closing more stores to cut costs and to bring its full-line department store business back to prominence.
“We want to fix Sears as a mall-based department staore, as a destination for home products in the home stores,” says Brandon Stranzl, executive chairman of Sears.
As sales continue to decline, Sears is adding pressure to CBRE, a real estate firm, to find different uses for the retailer’s weakest locations, such as its clearance outlets. The company will also downsize its internal network as a way to reduce costs.
Currently, Sears owns 10 outlets, 40 home stores, as well as 95 traditional full-line department stores. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
