By Solarina Ho
TORONTO (Reuters) – Sears Canada Inc (SCC.TO: Quote) said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in sales due to competition from big-box retailers and online merchants.
Like many department stores, the Toronto-based company has struggled for years to attract fashion-conscious shoppers who have embraced apparel stores more adept at keeping up with fast-changing clothing trends.
The company, which in 2012 was spun off from U.S. department store pioneer Sears Holdings Corp (SHLD.O: Quote), said it planned to close 59 of its 225 stores and cut …
Read the full article at: http://ca.reuters.com/article/businessNews/idCAKBN19C055-OCABS