Department store chain Sears Canada is not actively pursuing any asset sales but would consider opportunities that would "substantially" add value, the company's chief executive said on Thursday. Sears Canada, 51 percent controlled by hedge fund billionaire Edward Lampert and his Sears Holdings Corp, has been shedding assets and already has cut thousands of workers as it tries to navigate a turnaround.Profits have eroded in recent years amid intensifying competition. But Douglas Campbell, who became chief executive last September, believes Sears Canada will still appeal to shoppers looking for value and quality in a retail landscape increasingly crowded by new luxury entrants or retailers moving into higher-end categories."We will not be an exclusive retailer, our goal is to be an inclusive retailer and really serve middle-class Canadian working families," Campbell said in an interview, noting that Canadians were more frugal than their American counterparts.Sears, a pioneer of the "direct-to-consumer" business, must also contend with competition from the lower end of the spectrum from the likes of Wal-Mart Stores Inc and Target Corp . Target opened its doors in Canada a little over a year ago, and the move has spurred Wal-Mart to ramp up its own retail efforts in the country.
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC fell by 2.63% or $-0.44/share to $16.26. In the past year, the shares have traded as low as $8.84 and as high as $19.89. On average, 22439 shares of SCC.TO exchange hands on a given day and today's volume is recorded at 11553.
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 traded higher by 0.32% or $0.14/share to $43.39. In the past year, the shares have traded as low as $31.26 and as high as $67.50. On average, 1580900 shares of SHLD exchange hands on a given day and today's volume is recorded at 1309353.
Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT traded higher by 1.05% or $0.6394/share to $61.38. In the past year, the shares have traded as low as $54.66 and as high as $73.50. On average, 6009260 shares of TGT exchange hands on a given day and today's volume is recorded at 2891093.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT traded higher by 0.46% or $0.36/share to $78.40. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 7058330 shares of WMT exchange hands on a given day and today's volume is recorded at 3094727.
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