One layoff in Kamloops amid 700 at Sears across Canada
Sears Canada is laying off 700 workers across Canada, with one position among the 700 being eliminated at the Sears store in Kamloops' Aberdeen Mall.
The layoffs in department stores and distribution centres are part of what Sears director of corporate affairs and communications Alicia Richler called a company "restructuring."
In Kamloops, Richler said, the lone layoff occurred at the management level, noting department stores across the country averaged between three and five layoffs each.
Sears is gearing up for the arrival in Canada of the Target chain from the United States. in Kamloops, Target is expected to open in March in the former Zellers location in Sahali Mall.
"It's on the minds of everybody," Richler said of the department-store industry's pending battle for customers. "In the case of Sears, this [layoffs] was going to happen whether Target was coming or not."
Richler called the decision part of ongoing strategic decisions, which have also included teaming up with other brands — Aldo and Buffalo jeans, for example.
As part of those partnerships, the Aldo Group will design and create footwear for Sears' Nevada, Attitude and Jessica brands. Buffalo who will make men's and women's denim clothing for Sears' Nevada brand.
Sears counts 1,500 pick-up locations. 195 corporate stores, 269 dealer stores and eight home-services showrooms and more than 1,500 merchandise pick-up locations.
Sears Canada (SCC) closed at $9.54 per share on Thursday, Jan. 31, on the Toronto Stock Exchange, with volume of 40,947. The stock's 52-week high was $14.24 on March 19, 2012; it's 52-week low as $9.50 on Wednesday, Jan. 30, 2013.