Content about Sears Canada

October 3, 2014

In keeping with its previously announced plans, Sears Holdings Corp. has officially sold the majority of its 51% stake in Sears Canada, lowering that number to 12%.

September 25, 2014

Stocks slumped almost unilaterally on Thursday in the HCN Top 30 cadre, especially Sears, fresh off the heels of news that Sears Canada's CEO is resigning.

September 25, 2014

Exactly one year from the day that news broke of former CEO Calvin McDonald's departure, Sears Canada has again announced that there will be turnover in its leadership ranks.

Douglas Campbell, who replaced McDonald as president and CEO after he suddenly resigned last year, has given notice of his impending resignation, which will take effect as soon as the company finds a replacement (but no later than January 1, 2015).

August 22, 2014

Sears Canada is opening up a new fulfillment center in Calgary, Alberta that will serve customers in Western Canada who use the Sears Direct channel.

The 240,000-sq.-ft. facility will feature advanced product and packaging systems to increase efficiency in packing and shipping small-ticket items available through Sears Canada's catalogues and ecommerce website. The addition of the facility is expected to save an average of 1 to 2 days in delivery time for most customers in Western Canada.

August 21, 2014

Among the decisions facing Sears Holdings is what to do with its 51% stake of Sears Canada.

Rob Schriesheim, Sears Holdings' chief financial officer, addressed that question and others as part of the company's second-quarter earnings report.

August 21, 2014

Describing second-quarter earnings as "unacceptable," Sears Holdings Corp. chairman and CEO Edward Lampert added that his company's transformation is continuing and online sales are growing.

The company reported second-quarter net loss of $573 million, compared with a loss of $194 million in the same quarter last year. Revenues decreased $858 million to $8.0 billion for the quarter ended Aug. 2, 2014. 

May 14, 2014

Down 7.12%, Trex (TREX) led the pack in terms of decreases on Wednesday. Sears Holdings (SHLD) was close behind at 5.85% following the news of its considered sale of Sears Canada.

May 14, 2014

 The Sears Holdings empire plans a strategic retreat from Canada.

In a three-sentence announcement released Wednesday morning, Hoffman Estates, Ill.-based Sears Holdings Corp. said it is "exploring strategic alternatives for its 51% interest in Sears Canada, including a potential sale of Sears Holdings' interest or Sears Canada as a whole." 

The company said it plans to hire an investment bank to help with the sale. It didn't say which firm.

January 16, 2014

Toronto-based Sears Canada is turning over the work currently performed at three internal Customer Contact Centres to IBM, the company announced.

Sears Canada says the move will "provide a significant upgrade in technology and processes." It will also cut about 1,345 jobs. 

November 27, 2013

Sears Canada has announced its plans to lay off nearly 800 employees over the next six months, as well to shut down its central parts processing center in Belleville, Ontario, and 16 other stand-alone parts processing locations.

November 25, 2013

Sears Holdings issued a statement on Monday, discounting the New York Post's assertion that a sale of Sears Canada was in the works.

November 19, 2013

Many companies have been organizing drives and fundraisers for victims of Typhoon Haiyan since it touched down in the Philippines, and the home improvement and building materials industry is finding ways to make its own mark on the recovery effort.

Lumber Liquidators is providing tents and aid to affected families via the nonprofit ShelterBox USA. The organization delivers compact kits and emergency supplies to disaster survivors, which include tents, blankets, tools, water purification equipment, stoves, children's activity kits and more.

October 29, 2013

It's no secret that Sears has been struggling, but a less-than-robust Q3 earnings report may have prompted the retailer to make a few drastic moves in an effort to sustain itself.

October 28, 2013

Roughly one month after the news of his resignation, former Sears Canada CEO Calvin McDonald has disclosed his new position as president and CEO of Sephora Americas.

Effective Jan. 1, McDonald will replace David Suliteanu, who has served as president and CEO since 2000 and will move on to become CEO of Kendo Brands, a separate entity of parent company LVMH.

October 17, 2013

Sears Canada made it on the list of "Canada's Top Employers for Young People," published by Canada's Top 100 Employers.

September 26, 2013

Sears Canada spokesperson Vincent Power has responded to HCN's request for comment over the departure of CEO Calvin McDonald, who sources say left over a disagreement with Sears Holding Corp. as well as disappointment with the struggling retailer's progress.

September 25, 2013

Sears Canada CEO Calvin McDonald has resigned from his position for a new job opportunity. The move comes in the midst of a three-year restructuring initiative to strengthen the retailer's position in the region against new competition from Target and Wal-Mart.

Previous executive VP and COO Douglas C. Campbell, who is also a retired Marine Corps officer, took his place as CEO and president, as well as a member of the company's board of directors, effective Tues., Sept. 24.

November 16, 2012

Hoffman Estates, Ill.-based Sears Holdings Corp posted a third quarter net loss from continuing operations of $498 million, compared to a net loss of $410 million in the same quarter last year. 

Sears Domestic's comparable store sales declined 1.6% in the third quarter ended Oct. 27. Kmart's comparable store sales declined 4.8%, and Sears Canada's comparable store sales declined 5.7%. Revenues decreased $548 million to $8.9 billion for the quarter. 

May 22, 2012

Just days after Sears Holdings announced plans to partially spin off its Canadian division, Sears Canada appointed a new board member and said goodbye to another. 

May 17, 2012

Sears Holdings Corp. has announced plans to pursue a partial spinoff of its interest in Sears Canada.

The move will reduce the Hoffman Estates, Ill.-based Sears Holdings’ stake in Sears Canada from 95% to about 51%, the company said. 

March 6, 2012

Sears Canada is closing three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

March 6, 2012

Sears Canada is closing three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

November 30, 2011

According to an article in Canadian Business, Sears Canada laid off about 70 employees from its Toronto headquarters.

Sears Canada is 92% owned by Hoffman Estates, Ill.-based Sears Holdings, which reported a widened net loss in its recent third-quarter earnings report. Sears Canada comps declined 7.8% in the third quarter.

 

August 27, 2008

Domestic same-store sales dropped 6.2 percent overall, including a 5.6 percent drop at Kmart stores...

© 2014 Home Channel News. All Rights Reserved.