TORONTO, July 11, 2013 /CNW/ - Sears Canada Inc. (TSX: SCC) announced
today an agreement with Reitmans (Canada) Limited (TSX: RET) for the
addition of the market leading plus size Penningtons brand to Sears.
The introduction of the popular and fashionable Penningtons apparel
into Sears stores is an innovative, customer-centric approach for the
Canadian retail industry responding to an underserviced market
segment. Sears will be the only Canadian store to offer Penningtons
apparel outside of Penningtons own stores.
Initially Penningtons will be available in five Sears pilot stores as
well as on sears.ca. Penningtons apparel is expected to be introduced
in additional Sears locations, and in the Spring general catalogue, in
One of Sears transformational pillars for growth has been focused on
building the core, protecting and growing market share in categories
where Sears unrivalled blend of authoritative assortment, unique
services and exclusive brands build consideration for Sears among
Canadians. The Company has identified the women's plus-size category
as a key business and aims to create shops of approximately 4,000
square feet to establish a meaningful and relevant destination for
women coast to coast. A substantial portion of this space will be
devoted to Penningtons merchandise in the five pilot stores.
"We're excited to bring Penningtons to Sears because it supports our
strategy of working with successful brands that provide immediate
credibility and continuity to our apparel offerings," said Calvin
McDonald, President and CEO, Sears Canada. "There is a real opportunity
for Sears to take a leadership role in serving the plus-size
demographic, a segment that has traditionally been underserved.
Penningtons caters to a fashion-focused customer, which complements the
traditional offering currently available at Sears."
Penningtons is known for offering a wide range of affordable and
on-trend fashions starting at Size 14. They are a leader in providing
fashionable women's apparel, including blouses, sweaters, t-shirts,
tops and bottoms. Sears is re-establishing its plus-size shop in stores
across Canada to create more meaningful and consistent merchandise
presentations, addressing the needs of both the traditional and
trend-right style profiles.
"We are delighted with our new association with Sears Canada," said
Jeremy Reitman, Chairman and Chief Executive Officer of Reitmans
(Canada) Limited. "The Penningtons brand and the Sears brand are both
well-established and highly respected names in the Canadian marketplace
and this combination is another effective way for Penningtons to market
its apparel to Canadian women in a trusted and attractive retail
Improving the Balance of Sale
"Increasing our offering in apparel allows us to substantially reduce,
or move completely to Direct, categories that have space in our stores
but that are not productive year-round," continued Mr. McDonald. "We
need to move our store balance of sale to products that are less
susceptible to downturns in the economy and weather effects, thereby
providing more predictable revenues. We will continue to explore
opportunities that allow us to move in this direction."
This release contains statements that are forward-looking. Actual
results or events may differ materially from those forecasted in this
release because of the risks and uncertainties associated with Sears
Canada's business and the general economic environment, including that
there can be no assurance that the development project or new store
will be completed, nor that the timing or magnitude related to them
will materialize as described.
Sears Canada is a multi-channel retailer with a network that includes
181 corporate stores, 248 Hometown stores, over 1,400 catalogue and
online merchandise pick-up locations, 101 Sears Travel offices and a
nationwide home maintenance, repair, and installation network. The
Company also publishes Canada's most extensive general merchandise
catalogue and offers shopping online at www.sears.ca.
SOURCE: Sears Canada Inc.
For further information:
Contact for Media:
Sears Canada Corporate Communications