Last C$15.45 CAD
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Volume 12.2K
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As of 4:00 PM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

290 Yonge Street

Suite 700

Toronto, ON M5B 2C3


Phone: 416-362-1711


Sears Canada Inc. operates as a multi-format retailer. The company, as of March 14, 2013, had a network that included 181 corporate stores, 258 Hometown Dealer stores, 9 Sears Home Services showrooms, approximately 1,500 catalogue and online merchandise pick-up locations, 101 Sears Travel offices, and a nationwide home maintenance, repair, and installation network. The company also publishes Canada’s general merchandise catalogue and offers shopping online at Operations The company’s operations are focused on merchandising and include the sale of goods and services through its retail channels, which includes its Full-line, Sears Home, Hometown Dealer, Outlet, Appliances and Mattresses, Corbeil stores, and its Direct (catalogue/Internet) channel. It also offers services related to product repair and home improvement. Commission revenues include travel, insurance, and performance payments which are mainly received from JPMorgan Chase under the company’s long-term credit card marketing and servicing alliance with JPMorgan Chase. The company has partnered with Thomas Cook in a multi-year licensing arrangement, under which Thomas Cook manages the day-to-day operations of all Sears Travel offices and provides commissions to the company. Real Estate Joint Venture Operations As of February 2, 2013, the company had joint venture interests in 11 shopping centers across Canada. Joint venture interests range from 15% to 50% and are co-owned with major shopping centre owners and institutional investors. Intangible Properties The company has a license from Sears Roebuck to use the name ‘Sears’ as part of its corporate name, as well as a license to use other brand names, such as Kenmore, Craftsman, and DieHard. The company’s private brands, which are available in Canada, include Jessica, Nevada, Whole Home, Boulevard Club, Tradition, Protocol, Retreat, Alpinetek, Pure NRG Athletics, Trendzone, Baby Boots, Attitude, and Distinction. The company also owns various domain names which are used in its online business. Seasonality of Business The company’s operations are seasonal in nature with respect to results of operations and in products and services offered. Merchandise and service revenues, as well as performance payments received from JPMorgan Chase, vary by quarter based upon consumer spending behavior (year ended February 2, 2013). Its revenues and earnings have been higher in the fourth quarter due to the holiday season and it has reported a disproportionate level of earnings in that quarter. Strategic Alliances In 2012, the company entered into a strategic alliance with SHS Services Management Inc. (SHS), an installation services organization company whereby SHS would operate the Sears installed home improvements business, which includes HVAC (heating, ventilation and air conditioning) products, windows, doors, roofing, home decor, gas fireplaces, carpet and duct cleaning, and more. Dispositions During the period ended February 2, 2013, the company announced the sale of its Cantrex Group Inc. operations to Nationwide Marketing Group, LLC. In 2012, the company announced the sale of its 40% ownership of the leasehold interest in Medicine Hat Mall in Alberta to its joint venture partner, Sleeping Bay Building Corp. Significant Events In January 2014, Sears Canada Inc. announced that the company has entered into an agreement with IBM to externally reassign the work currently performed at three internal Sears Customer Contact Centers. The move to a third party would enable Sears to realize significant capability upgrades which will result in better processes, controls and tracking and an overall improvement in the customer experience. History The company was founded in 1952. It was incorporated under the laws of Canada in 1952. The company was formerly known as Simpsons-Sears Limited and changed its name to Sears Canada Inc. in 1984.


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