CEO: Sears Canada must re-balance to boost sales

04/26/2013 | Financial Post (Canada)

Sears Canada needs to cut as much as $200 million from its expenses in the next few years, while also boosting sales by exiting shrinking categories and finding new "hero" categories that resonate with shoppers, said CEO Calvin McDonald. The retailer has already cut about $100 million in costs in the past two years, but revenue declined in 2012 for the seventh consecutive year and same-store sales fell 5.6%.

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