Eaton's decline took decades to reach the inevitable end. Ironically, it was once they made a concerted effort to change that the steady decline turned into a freefall.It mystifies me as to how they're still lingering on, just delaying the inevitable. Nobody shops there. They don't offer anything that can't be found elsewhere for better prices.
It's their best bet because we all know their retail operations cannot be salvaged. However, I doubt their online endeavours will be successful. Their usual demographic probably aren't too keen to shop online (especially for clothing) and if they try and revamp they are going up against Amazon, Best Buy and Walmart, all of which currently have better online operations and more experience.Interestingly, the article has been rather drastically revised since it was first posted this morning. The headline now reads "Sears Canada eyes online revamp" and starts off with a bit about how they are planning a "digital turnaround", and implies they are aiming to the make the brick-and-mortar stores secondary to their online shop.
I think they got rid of their electronics department. I was in a Sears recently and they didn't have any electronics.As sad as there stores are, their online presence seems even worse.
I was helping my uncle online shop for a new smart tv. We checked out Bestbuy, Amazon, Costco and finally Sears.ca.
Sears had only THREE tv's listed on their whole site?! Not one was a major brand. It's been a while since I've been in a Sears store but I'm pretty sure they still sell Sony, LG, Samsung etc tvs do they not?
What in-demand locations do they still have? Landlords will only buy back under-market leases if they are certain they have someone ready to move in.Saw this first on Retail Insider. Good news, in a manner of speaking. Basically, there is incentive to keeping Sears Canada alive so that they can get more money from surrendering any desirable leases they have left - in short, landlords won't give them money to give up leases if they think Sears is about to go belly up, but the landlords might be more willing to do so if it looks like Sears will hang on for awhile. Sears' cash position is good, given the ongoing fire sale, and if they keep cutting to the bone they may be able to hold out for awhile.
Really, such a sad turn of events for such a well-established retailer in Canada, when the best thing analysts can say is that there is some value in keeping the operations on life support so they can get cash to keep dismantling the chain, and that the chain can survive for awhile longer if they keep slashing away at the investment it would need to ever become a viable operation again.
Sears Canada not likely to die while it still has real estate to sell
Financial Post, 29 March 2016
In the GTA, I'm guessing the Fairview and Limeridge stores are likely their best remaining locations. Maybe Mapleview? With Target's failure, there is a lot of empty space on the market, (mind you what's left is not all at desirable locations), and the economy is not exactly hot at the moment. If in 2 or 3 years, there are strong retailers (like Primark or something) looking for space in strong suburban malls, I suppose some mall owners might want to expand and gutting/demolishing/refurbishing/subdividing/repurposing the Sears store might be a means to that end. It all sounds dubious to me, but to the extent that the hedge fund managers in charge of Sears see ongoing value in the chain, maybe this is what they are grasping at. At least that's what the Financial Post thinks.What in-demand locations do they still have? Landlords will only buy back under-market leases if they are certain they have someone ready to move in.