Description: Sears Canada has announced to close five stores in Canada including its store in the Toronto’s Eaton center—its flagship store in Toronto. This announcement comes at a time when Target plans to open 33 more stores in Canada.

Source: CBC

Date: Oct. 29, 2013

Video Link:  http://www.cbc.ca/player/News/Business/ID/2415020369/?page=2

Questions for Discussion:

1. Do you agree with Sears’ reason that this is not a distress sale?
2. Is this the start of the decline of Sears presence in the Canadian market?
3. Is it surprising that Target has announced to open 33 more stores in Canada when most of the big retail outlets seem to be struggling?