Simpsons-Sears Limited
 |
|
|
Formerly called
|
Simpsons-Sears (1952–1984) |
|---|---|
| Public | |
| Traded as | : SCC |
| Industry | Retail |
| Founded | 1952 (joint venture of Simpson's and Sears) |
| Headquarters | 290 Yonge Street Suite 700 (Toronto Eaton Centre) Toronto, Ontario, Canada |
|
Key people
|
Brandon G. Stranzl, Executive Chairman; Becky Penrice, Executive Vice-President & Chief Operating Officer |
| Products | Clothing, footwear, bedding, furniture, jewellery, beauty products, appliances, housewares and tools. |
| Revenue | $3.146 billion (2015) |
| -$67.9 million (2015) | |
| Total equity | $554.2 million (2015) |
|
Number of employees
|
17,903 (2016) |
| Subsidiaries | SLH Transport |
| Website | sears |
Sears Canada Inc. is a Canadian retail chain headquartered in Toronto, Ontario. The company's roots are in Simpsons-Sears, a joint venture with the Simpsons retail chain and the U.S. Sears chain, which operated a national mail order business, and co-branded Simpsons-Sears stores modelled after the U.S. Sears chain. Following the purchase of Simpsons by the Hudson's Bay Company in 1978, the joint venture was dismantled, and the Simpsons-Sears stores became solely owned by Sears. In 1999, Sears Canada acquired the remaining assets and locations of the historic Canadian chain Eaton's. Sears Holdings now owns a 10% share in the company.ESL Investments is the largest shareholder of Sears Canada.
In 2016, the retailer had a network that includes 140 corporate stores (including full-line, Sears Home and Outlet stores), 71 Hometown stores, over 900 catalogue and online merchandise pick-up locations, 69 Sears Travel offices and a nationwide repair and service network. The company also publishes a general merchandise catalogue and offers shopping online at www.sears.ca.
After filing for creditor protection in June 2017, Sears Canada announced that they would be closing 20 full-line locations, 15 Home stores, 10 Outlet stores and 14 Sears Hometown stores. The store closings will result in 2,900 employee layoffs.
Sears Canada began its operations as Simpsons-Sears Limited, a catalogue and mid-market suburban retailer, as a joint-venture between the Simpsons Limited (the Robert Simpson Company Limited), a Canadian department store chain, and Sears, Roebuck and Co. of the United States. In 1952, General Robert E. Wood, the Chairman of U.S. retailer Sears, sent a letter to Edgar G. Burton, President of the Robert Simpson Company of Toronto, proposing a partnership between their two companies in order to serve the Canadian market. The deal to create Simpsons-Sears Limited, a Canadian catalogue and department store chain separate from the Simpson's chain, was signed on September 18, 1952 and the terms were 50-50. Each company invested $20 million and had equal representation on the new company's Board of Directors. The new company was to have two main objectives. The first was to expand Simpson's mail order business, which was sold to the new company. The second goal was to build a string of stores modelled on Sears, Roebuck's format across the country.
...
Wikipedia