Market Overview

Sears Canada Reports Reorganization of Repair Services and Parts Business


Sears Canada (NASDAQ: SHLD) announced
today that, following a comprehensive review of its Repair Services and
Parts businesses, it will be implementing a number of significant
changes designed to improve efficiency, profitability and the overall
customer experience.  The changes will take place over the next six
months and will result in a workforce reduction of 712 associates.

In Repair Services, Sears will be shifting to using exclusively
Sears-authorized contracted technicians in mid-markets, which it has
been using successfully in smaller markets for several years, resulting
in a reduction of Sears technicians and support teams in these
locations.  Due to their complexity and size, major markets will
continue to be primarily serviced by Sears technicians, although the
teams will be streamlined.  There has also been a shift of in-warranty
repair work on major appliances from Sears to its suppliers as is the
industry standard.

In the Parts division, sixteen existing stand-alone Parts processing
locations and a central processing centre in Belleville, Ontario will
be consolidated into three major fulfillment centres located in
Calgary, Toronto and Montreal.  Where a Parts processing location is
closing outside of these three cities, a

See full press release

Posted-In: News Guidance Dividends Management M&A Global


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