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rfmcdonaldCBC's report doesn't surprise me at all, given the closure of the chain's flagship store in the Eaton Centre earlier this year. (My photos of the store's final day are here.)
Sears is considering selling part or all of its Canadian operations after struggling to restructure the business for the past several years.
Shares in Sears Canada rose almost five per cent on Wednesday with news that Sears Holdings Corp. intends "to explore strategic alternatives including the potential divestiture of its remaining shares in Sears Canada and/or the sale of Sears Canada as a whole," the company said in a statement.
The holding company controls its namesake stores, but also operates numerous Kmart locations. It owns a controlling stake of 51 per cent of the Canadian operations of Sears.
[. . .]
Mark Satov, founder of Satov Consultants Inc. in Toronto, said he’s been expecting this announcement.
“They’ve been underinvesting in their brand for a very long time and they can only do that for so long before it’s not relevant,” Satov said in an interview with CBC’s Lang & O’Leary Exchange.
