Sears Canada

[explorerzip]

It'll be interesting to see what stores fill the big voids. Zellers is gone. Targets gone. Now Sears. There's only so many large retailers out there that need to fill another large vacant spot at a mall..... maybe more Nordstoms.

The old Target location at Square One is going to become a Rec Room restaurant and gaming space. The concept seems similar to Dave and Busters. For the smaller malls, they may have to split the Target space into smaller stores. At Cloverdale Mall in Etobicoke, they converted a Bay store in a Winners and Kitchen Stuff Plus, but the Target location at that mall is still empty.

 

[malata]

I will always remember Sears for their thick catalog as well as the Sears Kenmore and Craftsman brand.

 

[gcostanza]

Sears did outlast SkyRider!

 

[Occasionally]

The old Target location at Square One is going to become a Rec Room restaurant and gaming space. The concept seems similar to Dave and Busters. For the smaller malls, they may have to split the Target space into smaller stores. At Cloverdale Mall in Etobicoke, they converted a Bay store in a Winners and Kitchen Stuff Plus, but the Target location at that mall is still empty.

Rec Room is a fun place. Did it downtown. Mississauga desperately needs some kind of D&B place.

 

[Occasionally]

It is sad that an iconic business gets run into the ground. It's much worse for all the employees and pensioners that have to deal with it. It is interesting to read how businesses have come and gone over the years. Anyone remember Consumers Distributing where you would order from a catalog at a warehouse store and the clerk would pick it up. It was basically Amazon before the web.

There are a couple of company's that I think are relatively safe to online shopping for now. It will be interesting to watch how they evolve.

Harry Rosen - luxury items have higher margins and you generally have to deal with a human being especially for custom clothing. They do have some competition from online names like IndoChino where you can get a custom suit, shirts, etc.

Dollarama - You typically drop by a store to buy things like disposable cutlery and plates, decorations, etc. that don't make sense to buy online. The shipping would be more than the cost of the items. It only makes to buy such things online if you are getting a very large quantity and can wait a day or two. I wonder how long they can last, however, because the company seems to be piling on more debt as it grows. We've also seen companies in the same space come and go namely Bi-way and Bargain Harold's.

Canadian Tire - someone else mentioned it, but I think automotive service keeps them in the game. People who don't know or don't want to look for a mechanic take their car to Canadian Tire for oil and tire changes, etc. It only makes sense to have household goods in the same store while they wait. I'm not sure how well Marks is doing (owned by Canadian Tire) though since you can buy clothes on Amazon too.

Ikea - another interesting business since they manufacture and distribute and the Swedish meatballs or are damn good. One thing I just noticed is that you can buy Ikea products on the Amazon site.

Of course there's the Apple store that have been a massive hit and they always seem to be full of people. They're trying products out, getting a tutorial at the Genius bar, etc. Sure you can buy their products online, but their in-store experience differentiates them from all other electronics companies.

I don't know what the employee culture is at these other places, but when I used to deal with Sears HQ on Jarvis St (that funky staircase building), the people were all fine to work with, but the culture seemed very lax with the most generous benefits I'd seen. You had tons of long term employees, who had 8 week vacations. Sometimes I'd try to set up meetings and such, and people were often on holidays. Dealing with the back up people (more junior roles) was fine I guess, but it's not the same as dealing with the key person directly. So things would fall through the cracks.

I'm not saying is the key reason for their downfall, but it just didn't seem like a retailer that had an urgent sense of doing business like other places like Walmart. And this was even at a time when HBC (Bay and Zellers) were in full swing. Lucky for them Costco was probably half what they are today. If Costco was in full swing, Sears Canada would have disappeared faster.

 

[explorerzip]

Rec Room is a fun place. Did it downtown. Mississauga desperately needs some kind of D&B place.

There is Playdium near Square One so The Rec Room might cannibalize it's business. There is a Dave and Busters in the QEW and Winston Churchill area.

 

[Occasionally]

There is Playdium near Square One so The Rec Room might cannibalize it's business. There is a Dave and Busters in the QEW and Winston Churchill area.

Playdium is more for kids, oh didn't know D&B was in that part of Mississauga. Never in that part of town.

 

[explorerzip]

I don't know what the employee culture is at these other places, but when I used to deal with Sears HQ on Jarvis St (that funky staircase building), the people were all fine to work with, but the culture seemed very lax with the most generous benefits I'd seen. You had tons of long term employees, who had 8 week vacations. Sometimes I'd try to set up meetings and such, and people were often on holidays. Dealing with the back up people (more junior roles) was fine I guess, but it's not the same as dealing with the key person directly. So things would fall through the cracks.

I'm not saying is the key reason for their downfall, but it just didn't seem like a store that had an urgent sense of doing business like other places like Walmart.

If you felt an lack of urgency from the people you were trying to deal with at Sears, then I think that's a fairly good indicator of how the home office operates. Maybe not the main reason for their downfall, but it didn't help them. I think most people would say that the other companies listed have very good to excellent service, though there's really no service at Dollarama.

 

[KBear]

You had tons of long term employees, who had 8 week vacations.

Lots of long term staff coasting along at Sears, waiting for the big severance payout.

 

[james t kirk]

Lots of long term staff coasting along at Sears, waiting for the big severance payout.

They are not going to get a severance. They are probably going to lose their pension in fact.

That's why it's best to put your money in an RRSP unless you work for the government.

 

[nottyboi]

Personally I think the senior management should face criminal charges when a bankruptcy occurs at a point where salaries and pensions are destroyed. This places a HUGE burden on the taxpayer and IMHO amounts to fraud. This is what they should be charged with.

 

[essguy_]

Haven't read this entire thread so hope this isn't repeating something already said - but it's absolutely amazing how Sears squandered their position going back decades as a precursor to an on-line retailer. With their catalogue business, phone line support, home delivery, as well as their outlet pickup locations all across the continent - they should have been Amazon long before Bezo's got his first round of financing. Even if they had reacted late, they might have been able to salvage something. Instead they suffered the death of a thousand cuts.

 

[rhuarc29]

Personally I think the senior management should face criminal charges when a bankruptcy occurs at a point where salaries and pensions are destroyed.

Pensions, yes. Salaries, no.

 

[explorerzip]

Haven't read this entire thread so hope this isn't repeating something already said - but it's absolutely amazing how Sears squandered their position going back decades as a precursor to an on-line retailer. With their catalogue business, phone line support, home delivery, as well as their outlet pickup locations all across the continent - they should have been Amazon long before Bezo's got his first round of financing. Even if they had reacted late, they might have been able to salvage something. Instead they suffered the death of a thousand cuts.

Hindsight is 20-20 as they say. Maybe they should have ought to have known so many things, but they didn't. They miscalculated like so many businesses did and so many business will do in the future.

 

[explorerzip]

They are not going to get a severance. They are probably going to lose their pension in fact.

That's why it's best to put your money in an RRSP unless you work for the government.

You have to look after yourself in this day and age. Corporations will never take care of you and government likes to say the'll do it, but never will. Sadly, saving and investing doesn't seem to be part of our culture.

 

[FAST]

You have to look after yourself in this day and age. Corporations will never take care of you and government likes to say the'll do it, but never will. Sadly, saving and investing doesn't seem to be part of our culture.

Not when the Liberals are in government.

 

[explorerzip]

Not when the Liberals are in government.

What do the Liberals have to do with you not being able to look after yourself?

 

[GameBoy27]

Ikea - another interesting business since they manufacture and distribute and the Swedish meatballs or are damn good. One thing I just noticed is that you can buy Ikea products on the Amazon site.

Sorry, off topic but I feel I need to mention this.

Forget the meatballs, their frozen shrimp is amazing. In fact, it's the only shrimp I'll eat now. Cold water caught and has the MSC seal of approval. Most shrimp we buy is farmed in India, Indonesia, and Thailand and it's nasty!

https://www.consumerreports.org/cro/magazine/2015/06/shrimp-safety/index.htm

Ikea shrimp is so good!

http://www.ikea.com/ca/en/catalog/products/10347859/#

 

[FAST]

What do the Liberals have to do with you not being able to look after yourself?

Its the lefts philosophy.

Somebody is supposed to take care of me.

If I don't,... then I have some one to blame.

A lot of more business are going to fail, until people understand that you cannot rely on their employer to feed them for the rest of their lives after they retire.

GM had more people retired on their payroll,... than actual working employees,... that will never work,... of coarse unless your employer is the government,... me,... then your covered for life.

 

[Frankfooter]

Personally I think the senior management should face criminal charges when a bankruptcy occurs at a point where salaries and pensions are destroyed. This places a HUGE burden on the taxpayer and IMHO amounts to fraud. This is what they should be charged with.

Oh don't worry, they all just got bonuses, didn't they?
https://globalnews.ca/news/3598469/sears-canada-lay-offs-management-bonuses/