Sears Canada Inc is laying off nearly 800 employees as it overhauls its repair services and parts businesses and makes further staffing cuts at its head office, the department store chain said on Tuesday.News of the layoffs broke shortly before markets closed, sending shares up 4 percent to close at C$18.98.Sears Canada, 51 percent-owned by Sears Holdings Corp , said 712 jobs will be cut from its services divisions and an additional 79 eliminated at the head office. The company has more than 25,000 associates, according to the Sears Canada website.The department store, which reported a wider quarterly loss last week but its first rise in quarterly same-store sales since 2008, operates 181 corporate stores and 241 hometown dealer stores.
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC traded higher by 4.0% or $0.73/share to $18.98. In the past year, the shares have traded as low as $8.84 and as high as $19.89. On average, 56856 shares of SCC.TO exchange hands on a given day and today's volume is recorded at 218212.
Sears Holdings Corporation (Holdings) is a retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Shares of SHLD fell by 1.9% or $-1.25/share to $64.55. In the past year, the shares have traded as low as $38.40 and as high as $67.50. On average, 1104040 shares of SHLD exchange hands on a given day and today's volume is recorded at 1090600.
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