SHLD: Sears Considers Selling Canada Business

Sears Canada has seen falling sales for six consecutive years

Sears (SHLD), announced on Wednesday, that it’s considering selling its Canada business.


Sears is looking at alternatives for what to do with its 51% stake in its Canada business. The company is weighing different strategies of how to handle the business, which includes selling it.

As part of its efforts to deal with its Canada business, Sears said it’s looking into hiring an investment bank to help with finding strategic alternatives concerning the business.

The board of directors for Sears Canada said that they intend to fully cooperate with any decision made by the company in an effort to “achieve value for all shareholders.”

The Canada division of the retailer includes 176 corporate stores, 234 Hometown stores, 97 travel offices and more than 1,4000 pick-up locations. The company has seen sales fall for the last six years and has announced 3,000 job cuts since November 2013, reports Reuters.

SHLD shares were up slightly as of noon Wednesday.

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