Sears Canada Reduces Losses

Sears is a large retailer in Canada with 196 corporate stores and 285 hometown dealer stores. In recent years, its sales have been dramatically declining. These years of declining sales are partly due to the new U.S box stores that have recently entered the Canadian industry (i.e Target 2013).

Sears in Toronto, posted a net loss of $21.9 million/ $0.20 per share on Oct. 29th. This is an improvement from the $44.1 million loss or $0.42 per share, earlier on in the year.

Sears tactic in order to regain its customers is through revamping of its operations. Its transformation strategy is improving its progress and signs of success can be seen from the halved loss.

However, Sears’ implementation is not up to par to its expectations. The company is currently making $1.03 billion in revenue which is $76 million less than last year’s.

Sears started cutting jobs, reducing sale prices, and closing down stores that have not been performing well.
Many items have been lowered before the pre-winter sale. As a result, the company’s mattresses, appliances, toys, and clothing for babies, have improved with better sales.

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