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Sears exit from Toronto stores may signal broader retreat

 

Sears exit from Toronto stores may signal broader retreat

POSTED BY administrator on Jun 14 under Kitchenware

Sears exit from Toronto stores may signal broader retreat
News from globalnews.ca:

Sears Canada Inc. is closing up shop at two marquee Toronto locations and may exit a third as the iconic and once-dominant department store fights to remain relevant in an era of heightened competition on all sides.

Company watchers said Friday Sears may end up making additional exits across the country as it looks to cut losses and finance a turnaround plan.

The sale of leases to locations at Yorkdale and Square One shopping centres – two major retail hubs in Canada’s largest city – follows similar deals struck last year to exit locations in Calgary, Vancouver and Ottawa.

“Those are prime properties, they’re at the top of the totem pole in terms of shopping malls,” said independent retail analyst Ed Strapagiel. “The fact that Sears is letting them go doesn’t imply they’re doing well.”

Though still a giant of Canadian retail, supplying everything from appliances to linens in homes across the country, Sears Canada has fallen victim to shifting shopping habits and demographics, experts say — and it’s far from certain whether the company can pull out of a years-long decline.

“They’re divesting and cutting real-estate deals just to continue to fund this mala…………… continues on globalnews.ca

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Related News:

Fathers need love too
News from Kennebec Journal:

On the Edge

Posted: 11:36 AM
Updated: 6:03 PM

By J.P. Devine
Correspondent

News you can use: Father’s Day was invented at the YMCA in Spokane, Wash. No, the Village People had nothing to do with it. It was much earlier, 1910, and it was all Sonora’s idea.

Select images available for purchase in the
Maine Today Photo Store

Sonora so loved her daddy, a Civil War veteran who raised six children all by himself, that she came up with the notion. Nobody remembers what Sonora Smart Dodd was doing at the YMCA in Spokane in 1910 or any other time. She was from Arkansas.

And guess what? There’s a Maine connection, and wouldn’t you just know that that old trouble maker, Margaret Chase Smith, would have something to do with it? In 1957, Maggie wrote to Congress, and chastised them for focusing on women and ignoring fathers.

Soon it became a g…………… continues on Kennebec Journal

… Read the full article


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