Sears Canada Chances of Survival are “Improbable”
If you’ve been following the comings and goings of Canadian retail outlets, you are probably aware that things aren’t going so well for Sears Canada. An article from the Financial Post highlights the fact that for struggling department store Sears, it’s “now or never”. In the article by FP, Keith Howlett of Desjardins is quoted as saying that “The next seven quarters are ’make it or break it’ for Sears Canada,” and that “Our current view is that an operating turnaround is improbable.”
Sear’s improbable turnaround is due to dramatic reductions in operations -laying off over 2,000 employees last year and company-wide cost-cutting measures that were put in place to compete with the now defunct Target Canada.
According to the Financial Times article, the only chance Sears really has is to beat sales expectations for the 2016 holiday shopping season. It’s looking like if your a fan of Sears Canada, your opportunities to shop are slowly disappearing.
Source: Financial Post