Sears Canada (1952-2017)

[AlvinofDiaspar]

That's a good sign - from CTV:

http://www.ctvnews.ca/business/sear...or-barnes-and-noble-at-summer-s-end-1.2450086

AoD

 

[Bruno Republic]

Well, now we know where they put the revolving doors they took out of the Eaton Centre. At this point, I have to wonder if the name plates for senior management are done with dry-erase markers.

 

[Skeezix]

Rats. Sinking ship.

Once Calvin McDonald left, Sears has been bringing in these caretaker CEOs from the States, whose job mainly seems to consist of regurgitating platitudes to the media about how they're turning things around, and not rocking the boat in terms of Lampert's objective of bleeding the company dry. The fact that these guys stick around for a year or so (Boire didn't even last a year actually), and then run off to greener pastures, suggests two things: the job is thankless, and Sears Canada does not have a viable plan to turn things around.

 

[Skeezix]

Why does Sears Canada keep losing its CEOs?
Hollie Shaw, Financial Post, 2 July 2015

 

[James]

...
The fact that these guys stick around for a year or so (Boire didn't even last a year actually), and then run off to greener pastures, suggests two things: the job is thankless, and Sears Canada does not have a viable plan to turn things around.

I believe this is the bottom line.

 

[Admiral Beez]

If you listen to someone like Brian Sozzi, Sears Holdings in the U.S. only has another year or two before it runs out of cash and options.

Doesn't Sears Holdings control Lands End? I buy almost all my clothes from there, and I believe they're successful. Sears Holdings core brands, Every Ready, DieHard, Craftsman, etc. should still have value.

Sears Canada needs to close down the big department stores, merge with Sears Holdings USA, rename itself Sears LandsEnd, use the Sears catalogue stores for easy pick-up.

 

[KA1]

Sears sold Lands End a few years ago. As regards buying clothes, try LLBean. I buy my clothes -- especially Winter clothes -- from them.

 

[prosperegal]

Honestly, Sears is a waste of space. If they left the malls, it opens up room for other brands looking for larger spaces or to expand.

 

[Dan416]

Honestly, Sears is a waste of space. If they left the malls, it opens up room for other brands looking for larger spaces or to expand.

I think there's already an excess of space at malls right now due to Target leaving.

 

[prosperegal]

I think there's already an excess of space at malls right now due to Target leaving.

Don't live near any mall that formerly housed Target, so I don't know. The closet Sears was at the Eaton Centre and it's been gone for a while. My closest Sears is probably Fairview Mall.

 

[Bruno Republic]

Sears Holdings core brands, Every Ready, DieHard, Craftsman, etc. should still have value.

If they still had value, Lampert would've sold them off already.

 

[Skeezix]

Article contains a chronology of Lampert's selling of the company piece by piece.


Liquidation Situation: The slow dismantling of Sears Canada
July 3, 2015 - BNN

 

[gabe]

Honestly, Sears is a waste of space. If they left the malls, it opens up room for other brands looking for larger spaces or to expand.

The only one expanding into larger stores right now is Walmart.

 

[narduch]

Until they purchased those 13 Target leases Walmart wasn't really in expansion mode.

They were mostly renovating existing stores (keeping the square footage the same).

 

[Skeezix]

Fire sale continues.

Sears Canada sells more real estate, including $100-million distribution centre
Report on Business, The Globe and Mail, 13 November 2015