FAC33
Active Member
Nordstrom isn't in Sears' niche. Kohl's, on the other hand, and Penney's.....
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Nordstrom isn't in Sears' niche. Kohl's, on the other hand, and Penney's.....
Skeezix
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I actually suspect that Sears Canada's fate will hinge as much as what is happening to Sears in the U.S. as to its performance in Canada. Its parent company is doing even worse than Sears Canada, has already reduced its stake in Sears Canada to 51%, and has said it might sell the remainder. We may wake up one morning to find out that the whole thing has been sold to one or more buyers.
Skeezix
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You're reading my post too literally. I'm well aware it hasn't actually been sold yet. But rather than repeat the Financial Post article above, or go on about how Sears has done the filings with the SEC for the partial spin-off, for brevity's sake I just treated it as a fait accompli.
Skeezix
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Missed this article when it came out. Hard to know if this is evidence of overdue tough decisions being made by Sears Canada or simply another sign of a chain in trouble.
That's now two fewer Sears stores for Calgarians.
Sears Canada to close Calgary location
Published on Wednesday July 18, 2012
TheStar.com
Sears Canada is closing the doors to another of its department stores in Calgary.
The retailer said Wednesday it will move out of the Deerfoot Mall, located near the city’s airport, by the end of October. The property will be returned to the landlord.
The move comes as Sears Canada pushes ahead with a revamp of its operations by cutting jobs, slashing prices and decluttering its stores, in response to the entry of several new U.S. retailers into the Canadian market.
The company announced in March that it will close three high-profile department stores in Vancouver, Calgary and Ottawa by the end of October, affecting some 670 jobs.
But president and CEO Calvin McDonald said the recent closures shouldn’t be interpreted as a death knell, as the company is testing out four new concept store formats customized to different markets.
All associates working in the Deerfoot store will be offered continued employment with the company.
The retailer said the lease for the store expires next year, but it had the opportunity to exit the agreement sooner.
“While we had no additional plans to close stores, this agreement provides us with the ability to focus on areas in which we can improve and grow,” said McDonald, who took the lead role last summer to help reverse the company’s recent losses.
“In the past few months we have made significant investments to make sure we’re operating in the formats where we trade most effectively.”
The company, which is 92 per cent owned by U.S. retail giant Sears Holdings Corp., has 196 corporate stores, 285 hometown dealer stores and more than 1,700 catalogue merchandise pick-up locations across Canada.
It also operates 108 Sears Travel offices and a country-wide home maintenance, repair, and installation network.
In December, its U.S. parent company announced plans to close between 100 and 120 Sears and Kmart stores after poor sales during the holiday shopping season.
Shares of Sears Canada were unchanged at $10.30 on Wednesday morning at the Toronto Stock Exchange.
That's now two fewer Sears stores for Calgarians.
Sears Canada to close Calgary location
Published on Wednesday July 18, 2012
TheStar.com
Sears Canada is closing the doors to another of its department stores in Calgary.
The retailer said Wednesday it will move out of the Deerfoot Mall, located near the city’s airport, by the end of October. The property will be returned to the landlord.
The move comes as Sears Canada pushes ahead with a revamp of its operations by cutting jobs, slashing prices and decluttering its stores, in response to the entry of several new U.S. retailers into the Canadian market.
The company announced in March that it will close three high-profile department stores in Vancouver, Calgary and Ottawa by the end of October, affecting some 670 jobs.
But president and CEO Calvin McDonald said the recent closures shouldn’t be interpreted as a death knell, as the company is testing out four new concept store formats customized to different markets.
All associates working in the Deerfoot store will be offered continued employment with the company.
The retailer said the lease for the store expires next year, but it had the opportunity to exit the agreement sooner.
“While we had no additional plans to close stores, this agreement provides us with the ability to focus on areas in which we can improve and grow,” said McDonald, who took the lead role last summer to help reverse the company’s recent losses.
“In the past few months we have made significant investments to make sure we’re operating in the formats where we trade most effectively.”
The company, which is 92 per cent owned by U.S. retail giant Sears Holdings Corp., has 196 corporate stores, 285 hometown dealer stores and more than 1,700 catalogue merchandise pick-up locations across Canada.
It also operates 108 Sears Travel offices and a country-wide home maintenance, repair, and installation network.
In December, its U.S. parent company announced plans to close between 100 and 120 Sears and Kmart stores after poor sales during the holiday shopping season.
Shares of Sears Canada were unchanged at $10.30 on Wednesday morning at the Toronto Stock Exchange.
AKS
Senior Member
I think sears has more issues than reorganizing. Their policies for online shopping and in-store shopping is off as well. Their in-store prices and online prices may vary and they don't match either. In-store won't match their on-line website prices and their on-line prices won't match in-store prices. I have never seen an on-line store in Canada charge a handling fee. That's a big negative for them. On top of that, they charge shipping fee. Even if you pick up in-store you still need to pay handling fee minimum. Their on-line system is messed up as well. You added a feature so you can claim points from your sears card to pay for your item. But when you attempt to do that, you get an error. If you purchase online, you're suppose to go to the store to convert your points to gift card and then use the gift card online. It's so stupid. Also, if you convert your points to gift card, you have 6 months to use it or else it expires.
Sears has ALOT of things to learn from other big box stores in Canada.
Sears has ALOT of things to learn from other big box stores in Canada.
Johnny Au
Senior Member
I had been comparing men's digital watches with metal bands (as I prefer digital watches and metal bands are the most durable I find) both in store and online and the store has a larger selection. According to the website, there are one or two such watches (all of them are under $100). However, at the store, there are approximately 10 such watches, all of which are under $100. The websites should reflect what is available at the stores.
Skeezix
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Sears most at risk from Target’s arrival — report
October 1, 2012 - 7:05pm BY SUNNY FREEMAN THE CANADIAN PRESS
TORONTO — Target’s arrival in Canada will take a bite out of the sales of several key rivals, according to a new report, though many of those named have said they’re not fazed by new competitive pressure from the American retail giant.
In a report assessing the impact of Target’s arrival next year, Barclays Capital said Monday that Wal-Mart, Sears Canada, Old Navy, Loblaw’s Joe Fresh brand and Canadian Tire are the retailers most at risk.
Target is preparing to move into Canada, its first expansion outside the U.S. It will begin opening the first of between 125 and 135 stores in March and April at locations once owned by Canadian retailer Zellers.
“Target’s arrival marks the addition of another best-in-class global operator entering the Canadian market. We expect Target to focus on what they are most known for when they arrive: apparel and house goods,” the report said.
“Over time the greatest risk to established retailers is the permanent change in customer traffic patterns that Target could induce,” it said.
However, the investment firm also said other retailers that don’t overlap in their offerings — like dollar stores and higher-end retail stores — may benefit from the increased traffic generated by the new Target stores.
Sears Canada is the most at risk of the general retailers, with significant overlap in its offerings and 37 per cent of its locations less than a kilometre away from a Target location, the report said.
“Sears’ housewares and value priced, mostly private label, apparel offering (second in Canada behind Wal-Mart) makes Sears Canada one of the most
at risk retailers. Sears Canada’s management believes 70 per cent of their categories overlap with Target’s offering,” it added.
Sears Canada has already been struggling to compete and is revamping many of its locations and slashing prices to contend with lagging sales. The retailer has announced the closure of four prime store locations in three cities — Vancouver, Calgary and Ottawa.
The arrival will also eat into Wal-Mart’s business, the report said, noting that Target’s chief rival “may implement several ‘mitigation and offset’ strategies to minimize Target’s net impact on their business.”
Wal-Mart Canada, a subsidiary of the world’s biggest retailer, has said it is confident it’s prepared for Target’s arrival. As part of the plan, it will lower the prices of more items to about $1 as it also answers to the expansion by Canadian dollar store operator Dollarama Inc.
The retailer has never competed against Target Corp. outside its home base in the United States, which means Canadians could react to the new entrant in ways Wal-Mart hasn’t anticipated.
Canadian Tire is expected to take a hit, but Barclays analyst Jim Durran notes that when Wal-Mart first launched in Canada, Canadian Tire was able to recover by the following year.
“There is no doubt that Canadian Tire will suffer some sales erosion to Target, particularly in Target’s perceived ‘go to’ categories such as housewares, apparel and seasonal merchandise,” the report said.
However Barclays noted that Canadian Tire’s most loyal customers generate a majority of its sales and just 30 per cent of the Canadian retailer’s stores will be within five kilometres of a Target.
Canadian Tire Corp. is working aggressively to carve out a bigger share of the market before Target arrives. It has unveiled a new automotive-centric store format in a strategy aimed at improving customer experience among those shopping for products that helped make the company a household name.
Meanwhile, the report calls discount retailer Dollarama Inc. a special case among retailers as they offer something different from Target.
Barclays said it believes Dollarama will “benefit when a Target opens nearby.”
Dollarama Inc. is expanding faster than initially planned this year by increasing the number of new store openings to take advantage of a mall construction boom in Canada.
Chief executive Larry Rossy has said the chain could be helped by the arrival.
“I’m looking forward to it. I think that they’re going to bring traffic where we’re situated close to the Target stores,” he has said.
Rossy added he doesn’t believe the U.S. chain, which he said was a notch higher than Wal-Mart, will “trade down” by selling low-price products that fill Dollarama’s shelves.
October 1, 2012 - 7:05pm BY SUNNY FREEMAN THE CANADIAN PRESS
TORONTO — Target’s arrival in Canada will take a bite out of the sales of several key rivals, according to a new report, though many of those named have said they’re not fazed by new competitive pressure from the American retail giant.
In a report assessing the impact of Target’s arrival next year, Barclays Capital said Monday that Wal-Mart, Sears Canada, Old Navy, Loblaw’s Joe Fresh brand and Canadian Tire are the retailers most at risk.
Target is preparing to move into Canada, its first expansion outside the U.S. It will begin opening the first of between 125 and 135 stores in March and April at locations once owned by Canadian retailer Zellers.
“Target’s arrival marks the addition of another best-in-class global operator entering the Canadian market. We expect Target to focus on what they are most known for when they arrive: apparel and house goods,” the report said.
“Over time the greatest risk to established retailers is the permanent change in customer traffic patterns that Target could induce,” it said.
However, the investment firm also said other retailers that don’t overlap in their offerings — like dollar stores and higher-end retail stores — may benefit from the increased traffic generated by the new Target stores.
Sears Canada is the most at risk of the general retailers, with significant overlap in its offerings and 37 per cent of its locations less than a kilometre away from a Target location, the report said.
“Sears’ housewares and value priced, mostly private label, apparel offering (second in Canada behind Wal-Mart) makes Sears Canada one of the most
at risk retailers. Sears Canada’s management believes 70 per cent of their categories overlap with Target’s offering,” it added.
Sears Canada has already been struggling to compete and is revamping many of its locations and slashing prices to contend with lagging sales. The retailer has announced the closure of four prime store locations in three cities — Vancouver, Calgary and Ottawa.
The arrival will also eat into Wal-Mart’s business, the report said, noting that Target’s chief rival “may implement several ‘mitigation and offset’ strategies to minimize Target’s net impact on their business.”
Wal-Mart Canada, a subsidiary of the world’s biggest retailer, has said it is confident it’s prepared for Target’s arrival. As part of the plan, it will lower the prices of more items to about $1 as it also answers to the expansion by Canadian dollar store operator Dollarama Inc.
The retailer has never competed against Target Corp. outside its home base in the United States, which means Canadians could react to the new entrant in ways Wal-Mart hasn’t anticipated.
Canadian Tire is expected to take a hit, but Barclays analyst Jim Durran notes that when Wal-Mart first launched in Canada, Canadian Tire was able to recover by the following year.
“There is no doubt that Canadian Tire will suffer some sales erosion to Target, particularly in Target’s perceived ‘go to’ categories such as housewares, apparel and seasonal merchandise,” the report said.
However Barclays noted that Canadian Tire’s most loyal customers generate a majority of its sales and just 30 per cent of the Canadian retailer’s stores will be within five kilometres of a Target.
Canadian Tire Corp. is working aggressively to carve out a bigger share of the market before Target arrives. It has unveiled a new automotive-centric store format in a strategy aimed at improving customer experience among those shopping for products that helped make the company a household name.
Meanwhile, the report calls discount retailer Dollarama Inc. a special case among retailers as they offer something different from Target.
Barclays said it believes Dollarama will “benefit when a Target opens nearby.”
Dollarama Inc. is expanding faster than initially planned this year by increasing the number of new store openings to take advantage of a mall construction boom in Canada.
Chief executive Larry Rossy has said the chain could be helped by the arrival.
“I’m looking forward to it. I think that they’re going to bring traffic where we’re situated close to the Target stores,” he has said.
Rossy added he doesn’t believe the U.S. chain, which he said was a notch higher than Wal-Mart, will “trade down” by selling low-price products that fill Dollarama’s shelves.
Admiral Beez
Superstar
IMO, Sears Canada as we know it will be gone by end of 2014. The value of Sears is not in its real estate holdings or leased mall locations, but is in its brands (Die Hard batteries, Kenmore appliances and service/support, Craftsman tools, Discover credit card, Allstate insurance, Lands End, etc.)
Sears Canada will divest itself of its real estate and leased properties, abandon the malls, and for fashion concentrate on e-commerce via its Lands End brand. Furniture will only be sold through the Sears Home centres. Craftsman tools are already being sold via Costco, and Consumers Reports suggests that Kenmore may follow, see http://news.consumerreports.org/app...lling-craftsman-will-kenmore-soon-follow.html. DieHard batteries will soon follow.
Mark my words, Sears Canada as an anchor store in malls is toast. The whole concept is toast. My family buys everything except food on-line or at Costco or other stand-alone stores (vs. malls). By 2020 the Eaton Centre and other big malls will be in big trouble.
Sears Canada will divest itself of its real estate and leased properties, abandon the malls, and for fashion concentrate on e-commerce via its Lands End brand. Furniture will only be sold through the Sears Home centres. Craftsman tools are already being sold via Costco, and Consumers Reports suggests that Kenmore may follow, see http://news.consumerreports.org/app...lling-craftsman-will-kenmore-soon-follow.html. DieHard batteries will soon follow.
Mark my words, Sears Canada as an anchor store in malls is toast. The whole concept is toast. My family buys everything except food on-line or at Costco or other stand-alone stores (vs. malls). By 2020 the Eaton Centre and other big malls will be in big trouble.
skylyte
New Member
I wonder what will happen to Sears stores in malls like STC? If/when Sears shutters up, the space would probably be subdivided again and made into more retail space/food courts, like Yorkdale. I can't see a high-end store like Nordstrom moving in, but it could finally provide an opportunity for the long rumored entry of JC Penney and Kohl's into Toronto.
Johnny Au
Senior Member
It can also present an opportunity for a Super Target location (such as Yorkdale, when the Zellers at nearby Lawrence Square closes).
prosperegal
Senior Member
Super Target at YORKDALE? Totally NOT going to happen. Yorkdale markets itself as a high-end mall. Target is NOT high-end.
Admiral Beez
Superstar
Since when does Yorkdale exclude discount or value-priced retailers?
They've got Children's Place, which on their own websites proclaims to "sell fashionable, high-quality merchandise at value prices," which is basically a small Winners store.
Yorkdale will follow the dollar, and if it makes sense to take in Target they will.
sixrings
Senior Member
I dont think its comparable,a childrens place and a target. Im sorry but childrens place is not a GIANT discount store. Everytime I wait for a new store to be announced at the new expansion I am partially saddened because I know all most all of them will be stores that are too high end for myself. Im saying that and by no means are we poor. A Target would be a Huge anchor for the mall and I dont think the mall is going to want to say "hey look at all our luxury stores, and if you need somewhere to buy socks we have a target" The only thing that is going into the sears is a nordstrom a macys or a bloomingdales. That or the sears location will be cut up to make room for more small independent stores versus a large department store.
Kingsway
Active Member
I am pretty sure that Yorkdale would carve up the Sears (as they did with Eatons to add Zara, H&M, etc a few years ago) before they let Target in (that is if Nordstrom doesn't take it).
On another note, I don't agree that malls will disappear by 2020. Malls, if anything will be around for a long, long time. People love to shop and the satisfaction of making the purchase in hand far supersedes the thrill of opening a FedEx box three days after you press "buy now". I think that the way we shop will be different as retailers will be forced to be much more price or service competitive.
On another note, I don't agree that malls will disappear by 2020. Malls, if anything will be around for a long, long time. People love to shop and the satisfaction of making the purchase in hand far supersedes the thrill of opening a FedEx box three days after you press "buy now". I think that the way we shop will be different as retailers will be forced to be much more price or service competitive.
sixrings
Senior Member
who said malls were going to disappear by 2020?????? oh admiral, yeah alot of people shop online... and alot more shop in the stores... theres a reason for that... its entertainment...
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