Sears Canada (Symbol-SCC)

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bubbalouie
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Sears Canada (Symbol-SCC)

Post by bubbalouie » 24 Nov 2008 14:35

89.9% of the shares are owned by its parent (72.6%) and Pershing (17.3%).

They've made $1.54 (adj) the first 9 months of 2008 and will probably make $.85-1.00 in Q4. The stock is trading at $18.00.

That's all very nice but I what I find very intriguing is that they have $809 million of cash on the balance sheet. If the parent were to attempt another buyout, they should probably do it while the greenback is still relatively strong. In a couple of months, the US$ may not be worth as much.
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Post by Taggart » 01 Apr 2009 13:27

Lampert looking to cash in at Sears: report

Hollie Shaw, Financial Post

Published: Wednesday, April 01, 2009

TORONTO -- Sears Canada Inc. shares jumped nearly 8% after a report suggesting financier Edward Lampert could be girding for another battle to take over the 26% of the department store chain not owned by parent Sears Holdings Corp.

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Re: Sears Canada (Symbol-SCC)

Post by FinEcon » 18 May 2010 18:10

http://www.newswire.ca/en/releases/arch ... c4877.html
Sears Canada Reports First Quarter Results and Announces Extraordinary Cash Dividend and Normal Course Issuer Bid

....The Company also announced today that its Board of Directors declared that an extraordinary cash dividend of $3.50 per share on all Common Shares of the Company, or approximately $376.7 million, will be paid on June 4, 2010 to shareholders of record as at the close of business on May 31, 2010.

....purchase for cancellation up to 5% of its issued and outstanding common shares
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Re: Sears Canada (Symbol-SCC)

Post by marty123 » 18 May 2010 18:49

....purchase for cancellation up to 5% of its issued and outstanding common shares
Hmmm. I don't suppose that Sears Holding will redeem any of their shares. It kooks like a bid to decrease minority shareholder participation.

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Re: Sears Canada (Symbol-SCC)

Post by Norbert Schlenker » 18 May 2010 19:59

They already own over 90%, or will once the Pershing transaction closes. I'm sure they want to get to 95% to make a squeeze out possible.
Nothing can protect people who want to buy the Brooklyn Bridge.

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Re: Sears Canada (Symbol-SCC)

Post by Taggart » 29 Jun 2011 09:21

Another problem retailer in Canada.

Sears Canada under the gun as Target's invasion nears

Julien Russell Brunet, May Jeong and Darcy Keith
Globe and Mail Update
Published Tuesday, Jun. 28, 2011 3:49PM EDT

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Re: Sears Canada (Symbol-SCC)

Post by Shakespeare » 02 Mar 2012 09:42

Sears to close three stores in top markets - The Globe and Mail
The three stores whose leases are being returned to their landlord are in Vancouver Pacific Centre, Calgary Chinook Centre and Ottawa Rideau Centre.
Burning the furniture?
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Re: Sears Canada (Symbol-SCC)

Post by FinEcon » 02 Mar 2012 11:21

Shakespeare wrote:Sears to close three stores in top markets - The Globe and Mail
The three stores whose leases are being returned to their landlord are in Vancouver Pacific Centre, Calgary Chinook Centre and Ottawa Rideau Centre.
Burning the furniture?
The two out west were obvious closures candidates and have been for years. A store like Sears has no place in in downtown or other premium locations. Sears has become a third rate discounter whose main clientele seems to be the elderly and a certain ethnic group during 50-70% off sales. There is likely some good earning power in their home appliances stores and in the services arm but as a seller of goods easily obtainable everywhere else one has to think, who goes there?
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Re: Sears Canada (Symbol-SCC)

Post by kjmcrae » 02 Mar 2012 12:57

Taggart wrote:Another problem retailer in Canada.

Sears Canada under the gun as Target's invasion nears
Sears should have packed it all in several years ago. :roll: Hardly anyone under the age of 65 shops there anymore. I'm surprised they've lasted this long.

The Bay was on a similar path for awhile, but they've started to turn it around in recent years.

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Re: Sears Canada (Symbol-SCC)

Post by Taggart » 13 Jun 2017 15:22

Meanwhile, several years later..................

Sears Canada raises doubts about its future, seeks buyer

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Re: Sears Canada (Symbol-SCC)

Post by AltaRed » 13 Jun 2017 15:35

Really don't know why it clings to life. Anyone who still goes into their stores must surely have an experience with 'death warmed over'. I walked into one of their department stores almost a year ago and it looked and felt deathly. Sears Home feels a bit better but doesn't have much of anything (beyond Kenmore) that can't be bought elsewhere.
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Re: Sears Canada (Symbol-SCC)

Post by Taggart » 13 Jun 2017 15:44

It may be possible that the Kenmore line may have some value. Haven't looked lately, but in the past they were consistently getting high marks at Consumers Reports. Now if I can only find new Kenmore vacuum cleaner bags.

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Re: Sears Canada (Symbol-SCC)

Post by AltaRed » 13 Jun 2017 15:49

Taggart wrote:
13 Jun 2017 15:44
It may be possible that the Kenmore line may have some value. Haven't looked lately, but in the past they were consistently getting high marks at Consumers Reports. Now if I can only find new Kenmore vacuum cleaner bags.
It is my understanding that every Kenmore product is made by someone else, either as a complete copy or with certain visible things changed to make it 'unique' Kenmore. If you can figure out who made your particular vacuum cleaner, you have an alternative source. If you phone Sears Parts, they can sometimes tell you. Failing that, google for the information.

Hint: When you buy a Kenmore product, get the salesperson to tell you who manufactured it and write that down on the back of the 'manual'.
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Re: Sears Canada (Symbol-SCC)

Post by 2 yen » 13 Jun 2017 16:08

Taggart wrote:
13 Jun 2017 15:22
Meanwhile, several years later..................

Sears Canada raises doubts about its future, seeks buyer
Stick a fork in it.

2 yen

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Re: Sears Canada (Symbol-SCC)

Post by Taggart » 13 Jun 2017 16:52

AltaRed wrote:
13 Jun 2017 15:49
Taggart wrote:
13 Jun 2017 15:44
It may be possible that the Kenmore line may have some value. Haven't looked lately, but in the past they were consistently getting high marks at Consumers Reports. Now if I can only find new Kenmore vacuum cleaner bags.
It is my understanding that every Kenmore product is made by someone else, either as a complete copy or with certain visible things changed to make it 'unique' Kenmore. If you can figure out who made your particular vacuum cleaner, you have an alternative source. If you phone Sears Parts, they can sometimes tell you. Failing that, google for the information.

Hint: When you buy a Kenmore product, get the salesperson to tell you who manufactured it and write that down on the back of the 'manual'.
Didn't know that. Will have to check into it when I get a chance. Thanks.

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Re: Sears Canada (Symbol-SCC)

Post by kcowan » 13 Jun 2017 17:29

2 yen wrote:
13 Jun 2017 16:08
Stick a fork in it.
2 yen
:rofl:
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Re: Sears Canada (Symbol-SCC)

Post by JaydoubleU » 13 Jun 2017 17:54

Good brand name,

just an awesome failure to adapt with time

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Re: Sears Canada (Symbol-SCC)

Post by IdOp » 13 Jun 2017 18:35

The Sears near me was recently made over. I find it awful now. A lot less selection and a lot of crap. I used to buy the odd casual shirt there if they went on clearance under $20, but now I doubt I'd even find anything I like. That said, I did buy a Kenmore vacuum there recently, but that was rather over-due.

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Re: Sears Canada (Symbol-SCC)

Post by augustabound » 13 Jun 2017 19:06

Taggart wrote:
13 Jun 2017 16:52
Now if I can only find new Kenmore vacuum cleaner bags.
You should be able to input your model number and get the manufacturer here.

Also check Canadian Tire. I remember finding bags for our Panasonic like these. That have both Panasonic and Kenmore model numbers on the package.
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Re: Sears Canada (Symbol-SCC)

Post by Taggart » 14 Jun 2017 03:29

augustabound wrote:
13 Jun 2017 19:06
Taggart wrote:
13 Jun 2017 16:52
Now if I can only find new Kenmore vacuum cleaner bags.
You should be able to input your model number and get the manufacturer here.

Also check Canadian Tire. I remember finding bags for our Panasonic like these. That have both Panasonic and Kenmore model numbers on the package.
Thanks Augustabound. The above links were a great help in finding what we need in Kenmore vacuum cleaner bags.

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Re: Sears Canada (Symbol-SCC)

Post by brad911 » 14 Jun 2017 09:45

Most of these businesses were bound to failure due to changes in consumer behaviour, the internet and price. They are competitively disadvantaged aside from the value of the real estate some of the companies hold (ex: HBC)
They didn't develop a quality enough web presence, they didn't provide any exceptional difference in experience and they didn't target any new demographic.
People get more excited for the IKEA catalogue then the Sears catalogue now and it demonstrates that they simply didn't have a clue and felt they could continue doing what they were doing. The print media industry is having the same issue along with others. I can order almost all of the same products off of Amazon/Walmart for a better price, with affordable shipping in a very timely manner.
It needed to die a long time ago and unless someone has an epiphany that can re-invent the business plan this isn't worth a dime.
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Re: Sears Canada (Symbol-SCC)

Post by SQRT » 14 Jun 2017 10:02

brad911 wrote:
14 Jun 2017 09:45
Most of these businesses were bound to failure due to changes in consumer behaviour, the internet and price. They are competitively disadvantaged aside from the value of the real estate some of the companies hold (ex: HBC)
They didn't develop a quality enough web presence, they didn't provide any exceptional difference in experience and they didn't target any new demographic.
People get more excited for the IKEA catalogue then the Sears catalogue now and it demonstrates that they simply didn't have a clue and felt they could continue doing what they were doing. The print media industry is having the same issue along with others. I can order almost all of the same products off of Amazon/Walmart for a better price, with affordable shipping in a very timely manner.
It needed to die a long time ago and unless someone has an epiphany that can re-invent the business plan this isn't worth a dime.
This would have been a very useful insight, 10 years ago.

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Re: Sears Canada (Symbol-SCC)

Post by 2 yen » 14 Jun 2017 10:02

brad911 wrote:
14 Jun 2017 09:45
Most of these businesses were bound to failure due to changes in consumer behaviour, the internet and price. They are competitively disadvantaged aside from the value of the real estate some of the companies hold (ex: HBC)
They didn't develop a quality enough web presence, they didn't provide any exceptional difference in experience and they didn't target any new demographic.
People get more excited for the IKEA catalogue then the Sears catalogue now and it demonstrates that they simply didn't have a clue and felt they could continue doing what they were doing. The print media industry is having the same issue along with others. I can order almost all of the same products off of Amazon/Walmart for a better price, with affordable shipping in a very timely manner.
It needed to die a long time ago and unless someone has an epiphany that can re-invent the business plan this isn't worth a dime.
The Bay may be better off, but they need to be very, very careful, too. Mall located department stores are a very depressing experience indeed. I partially fault mall operators as well. They seem to have nickel and dimed their operations to the point that there is nothing about a mall that makes people want to go and spend time there. When is the last time you actually enjoyed a mall experience?

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Re: Sears Canada (Symbol-SCC)

Post by Shakespeare » 14 Jun 2017 10:16

there is nothing about a mall that makes people want to go and spend time there
The summer scenery can be interesting for us DOM. :wink:
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Re: Sears Canada (Symbol-SCC)

Post by kcowan » 14 Jun 2017 10:18

CBCs Peter Armstrong interviewed the Sears Canada CEO from 2001-3. There was no sense of urgency for change back then. Just tinkering.
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