A major retailer is facing uncertainties which may include the store in Sault Ste. Marie.
Sears Canada says “everything is on the table” in regards to cutting costs by closing under-performing stores across Canada
The giant retailer has instructed a real estate firm to look at alternatives uses for some of Sear’s weakest stores with a target of “shirking its store network”
“We’ve got this network we’re going to rationalize and we’re going to figure out which stores make the most sense,” said Brandon Stranzl, executive chairman of Sears Canada told the Globe&Mail . Stranzl took the top job last summer.
The retailer like many more before them, have seen sales drop in recent years. Sales at Sears nationally have fallen by almost half to $3B compared to over $6B ten years ago.
In Sault Ste. Marie, Sears operates a full-line department store at the Station Mall. It’s been the main anchor for that mall since the mall opened in 1973.
Sears has about 10 outlet stores, 40 home stores and 95 traditional full-line department stores.
The company is determined to turn around its core business and remain in many locations, said Stranzl. Some stores will be downsized or closed when the lease expires.
The retailer did say that talking about specific locations will not be disclosed “until all arrangements are finalized or no final decisions on the extent of planned closures.”
“We want to fix Sears as a mall-based department store, as a destination for home products in the home stores,” he said. “That doesn’t mean we’re going to keep all the home stores. That doesn’t mean we’re going to keep all the full-line stores.” Stranzl