The Canadian Press - ONLINE EDITION

Sears Canada to close Deerfoot Mall location in Calgary

  • Print

TORONTO - Sears Canada is closing the doors to another of its department stores in Calgary.

The retailer said Wednesday it will move out of the Deerfoot Mall, located near the city's airport, by the end of October. The property will be returned to the landlord.

The move comes as Sears Canada (TSX:SCC) pushes ahead with a revamp of its operations by cutting jobs, slashing prices and decluttering its stores, in response to the entry of several new U.S. retailers into the Canadian market.

The company announced in March that it will close three high-profile department stores in Vancouver, Calgary and Ottawa by the end of October, affecting some 670 jobs.

But president and CEO Calvin McDonald said the recent closures shouldn't be interpreted as a death knell, as the company is testing out four new concept store formats customized to different markets.

All associates working in the Deerfoot store will be offered continued employment with the company.

The retailer said the lease for the store expires next year, but it had the opportunity to exit the agreement sooner.

"While we had no additional plans to close stores, this agreement provides us with the ability to focus on areas in which we can improve and grow," said McDonald, who took the lead role last summer to help reverse the company's recent losses.

"In the past few months we have made significant investments to make sure we're operating in the formats where we trade most effectively."

The company, which is 92 per cent owned by U.S. retail giant Sears Holdings Corp., has 196 corporate stores, 285 hometown dealer stores and more than 1,700 catalogue merchandise pick-up locations across Canada.

It also operates 108 Sears Travel offices and a country-wide home maintenance, repair, and installation network.

In December, its U.S. parent company announced plans to close between 100 and 120 Sears and Kmart stores after poor sales during the holiday shopping season.

Shares of Sears Canada were unchanged at $10.30 on Wednesday morning at the Toronto Stock Exchange.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

The Whiteboard - Jets' 5-on-3 penalty kill

View more like this

Photo Store Gallery

  • Two baby tigers were unveiled at the Assiniboine Park Zoo this morning, October 3rd, 2011. (TREVOR HAGAN/WINNIPEG FREE PRESS)
  • Bright sunflowers lift their heads toward the south east skies in a  large sunflower field on Hwy 206 and #1 Thursday Standup photo. July 31,  2012 (Ruth Bonneville/Winnipeg Free Press)

View More Gallery Photos

Poll

Do you think the provincial NDP’s approval rating could drop below the current 26 per cent?

View Results

View Related Story

Ads by Google