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Sears Canada (1952-2017)

  • Thread starter CanadianNational
  • Start date
The problem with Sears Canada is the American CEO which is sucking it's Canadian subsidiary dry in order to pay off investors with dividends. The American unit was under performing, so he turned to Canada and started sucking resources from here like no mans business.

That's part of the reason why Sears Canada has had a revolving door or CEO's in the past 3-4 years, because none of them could take dealing with the ignorance and BS of the American CEO. I wouldnt be surprise to see Sears Canada spun-off from it's American parent in a few years once the money sucking is complete.
 
Skeezix said:
Agree with you that, if given the choice, I would always opt for the downtown store (I think the 5th floor is great). But I don't mind the Bloor store. The problem with the Bloor Store (besides it's bunker-like exterior) isn't so much the staff, merchandise or displays - it's the low ceilings.

And suburban Hudson's Bay stores are okay too. I haven't been to all that many, but enough to have get the impression that they offer nicer shopping than Sears. The Hudson's Bay and Sears stores at Fairview are night and day.
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The 5th floor is one of my favourite places to shop. It's a one stop shop for all things menswear related. And it's a nice mix of mid-low to mid-high end.

In terms of the suburban stores, I've visted a few in the GTA and have no problem with any of them. They all could use a reno to match the same design as Queen and Yorkdale, but they are not downtrodden at all in their current form.
 
Amare said:
I wouldnt be surprise to see Sears Canada spun-off from it's American parent in a few years once the money sucking is complete.
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Realistically, who would want to buy it once Eddie has sucked it dry? There will be no more valuable store leases to assume, a shrinking customer base, second rate online business, etc, etc. There isn't a heck of a lot left even today. If Eddie thinks he can 'spin it off', he's dreaming. He's done most of the spinning off already with the moves he's made. The company is really a brittle shell of its former self.
 
ILuvTO said:
Realistically, who would want to buy it once Eddie has sucked it dry? There will be no more valuable store leases to assume, a shrinking customer base, second rate online business, etc, etc. There isn't a heck of a lot left even today. If Eddie thinks he can 'spin it off', he's dreaming. He's done most of the spinning off already with the moves he's made. The company is really a brittle shell of its former self.
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I could see a few leases having value. Scarborough Town Centre, Fairview Mall, etc. But then you're getting into malls that lost Target stores and are having trouble filling those spaces.
 
ShonTron said:
I could see a few leases having value. Scarborough Town Centre, Fairview Mall, etc. But then you're getting into malls that lost Target stores and are having trouble filling those spaces.
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Agree that STC and Fairview are the two big ones left with any real value. However I was under the impression that STC was already spoken for and will be gone soon? Not sure where I heard that (could have been earlier in this thread). That would leave them with Fairview. What a sad state of affairs for a what used to be a giant in Canadian retail.
 
I really wish my local bay (Masonville, London Ontario) would get TopMan/TopShop... it would be a huge draw for young adults (and us men.. there isn't very mens stores at this mall) otherwise the nearest one would be squareone/yorkdale :( or sherway...
 
ShonTron said:
I could see a few leases having value. Scarborough Town Centre, Fairview Mall, etc. But then you're getting into malls that lost Target stores and are having trouble filling those spaces.
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ILuvTO said:
Agree that STC and Fairview are the two big ones left with any real value. However I was under the impression that STC was already spoken for and will be gone soon? Not sure where I heard that (could have been earlier in this thread). That would leave them with Fairview. What a sad state of affairs for a what used to be a giant in Canadian retail.
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In 2013, when it was unloading the leases for Yorkdale and Square One, Sears gave (sold) Oxford the option to buy out the lease at Scarborough Town Centre within the next five years.
 
ILuvTO said:
Agree that STC and Fairview are the two big ones left with any real value. However I was under the impression that STC was already spoken for and will be gone soon? Not sure where I heard that (could have been earlier in this thread). That would leave them with Fairview. What a sad state of affairs for a what used to be a giant in Canadian retail.
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There are a few good malls left in Sears' portfolio, like Bramalea City Centre, Pickering Town Centre, Upper Canada Mall in Newmarket, Mapleview in Burlington. But BCC and PTC lost Target (they were originally Eaton's, later Zellers, like the one at Square One). Erin Mills Town Centre was lucky nabbing Wal-Mart to replace Target (also originally an Eaton's) but it will probably struggle with losing Sears.
 
Poor Sears. They're just not on my radar anymore. I buy most of my clothes at the Bay Queen St. store, Marks Work, Eddie Bauer, or online at LandsEnd. I don't even know where the closest Sears store to me would be? Let me check, Fairview Mall or STC. I thought those closed too?
 
Skeezix said:
Target's collapse was the best thing that could have ever happened for Sears Canada.
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And yet they still can't even help themselves which is quite sad. Target was 10 times better than Sears, and it was the media that accelerated its doom. I'd even go out and say that the physical layout of Target was a lot better compared to Wal-Mart's messy layout.

There's one obvious thing that can help Sears greatly and that's revamping their online portal. There's only 2 reasons why they havent done that yet: a) Eddie is sucking them dry at a rapid rate, or b) They're simply not interested
 
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