Last night Sears Canada announced that they'd cut 400 positions, mostly in Ontario and, according to some sources, mostly in their HQ. This is in addition to the 70 or so positions they eliminated at the end of 2011. For me, at least, the big layoff immediately brought to mind the Hbc firings in February 2009. (For those who don't remember, they announced that they'd eliminated 1000 positions on February 4 and shuttered their online sites on February 5. They were offline for nearly two years before bringing thebay.com back online, while Home Outfitters and Zellers remain offline). Is that what is in store for Sears Canada? The layoffs come after a long period of slumped sales in the US and Canada as well as the closing of 120 US-based store locations.
What do you see in Sears Canada's future? To be honest, when The Bay went offline I assumed they would never come back. But they have, and right now they're one of my favourite Canadian places to shop. I like their selection and they are having compelling promotions on a regular basis. (They also carry a lot of big-name brands that I love, like Kate Spade, DVF and Dior, and they're not afraid of putting them on sale.) Overall, the breadth of the site does not compare to variety available at other online retailers, but what they do have online is generally well-priced and appealing. Can Sears right their ship, narrow their focus and make the same sort of comeback? Or do you think their online site isn't in jeopardy at all?
