SEARS closing stores

[Colin May]

http://www.theglobeandmail.com/repor...ticle28365748/

Sears has about 10 outlet stores, 40 home stores and 95 traditional full-line department stores.

Sears’s most recent store-closing plans differ from previous shutdowns, which involved landlords often approaching Sears with offers to buy back the retailer’s store leases to replace Sears with alluring foreign retailers, such as United States-based Nordstrom Inc., which could draw more customers.

But amid the rash of retailers such as Target that have closed stores, landlords no longer have compelling new retailers to fill so much space. Now Sears has broadened its store-closing efforts to its home and outlet centres.

“This will not be looked at as a pleasant surprise in our industry,” said Fred Waks, chief executive officer of landlord Trinity Development Group Inc., which doesn’t have Sears in its properties. “Between the closures of Future Shop and downsizings and Staples and the like, this is not a great thing.”

About time. Dartmouth store is deader than a cemetery. Time has passed by the lousy management.

[JET]

Originally Posted by Colin May

http://www.theglobeandmail.com/repor...ticle28365748/

Sears has about 10 outlet stores, 40 home stores and 95 traditional full-line department stores.

Sears’s most recent store-closing plans differ from previous shutdowns, which involved landlords often approaching Sears with offers to buy back the retailer’s store leases to replace Sears with alluring foreign retailers, such as United States-based Nordstrom Inc., which could draw more customers.

But amid the rash of retailers such as Target that have closed stores, landlords no longer have compelling new retailers to fill so much space. Now Sears has broadened its store-closing efforts to its home and outlet centres.

“This will not be looked at as a pleasant surprise in our industry,” said Fred Waks, chief executive officer of landlord Trinity Development Group Inc., which doesn’t have Sears in its properties. “Between the closures of Future Shop and downsizings and Staples and the like, this is not a great thing.”

About time. Dartmouth store is deader than a cemetery. Time has passed by the lousy management.

I like the Dartmouth Store, and usually buy aplliances there.