(Corrects 10th paragraph to show that Sears Canada will continue to sell home appliances. Previous said the company plans to shift away from that area)
By Solarina Ho
TORONTO (Reuters) – Sears Canada Inc 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, said it pl…
Read the full article at: http://timesofindia.indiatimes.com/business/international-business/sears-canada-to-close-stores-cut-jobs-in-restructuring/articleshow/59312344.cms