Company to move its Headquarters Operation to Toronto Eaton Centre
TORONTO, Sept. 26 /CNW/ - Sears Canada Inc. (TSX: SCC) announced today
that it plans to relocate its head office, located at 222 Jarvis Street,
Toronto, to the Toronto Eaton Centre at the corner of Yonge and Dundas Streets
(290 Yonge Street) in Toronto. The Company's Headquarters functions will take
up the top four of the eight floors currently occupied by Sears at that
location, and the remaining four floors will continue to be operated as a
full-line department store.
"This decision makes great sense for Sears Canada and its associates",
said Dene Rogers, President and Chief Executive Officer, Sears Canada Inc.,
"as we have a unique opportunity to create a very pleasant and modern work
environment. We have surplus space at the Toronto Eaton Centre which has been
underutilized for some time. Occupying the top four floors as office space
will help improve the productivity of the remaining four floors used for the
No staffing cuts, affecting Headquarters or store associates, are planned
as a result of the change in location of the Company's Head Office. There is
enough space to comfortably relocate all Jarvis Street associates to the new
location. Preliminary plans have been designed and the Company will, during
the next several months, more specifically determine the steps necessary to
complete the move.
"Having its headquarters so close to one of its stores is a key advantage
for a retailer," continued Mr. Rogers. "Our merchandising teams can see what
our customers experience on a more frequent basis and react faster using
immediate input from store associates when required. The proximity to the
Dundas subway station will also make the daily commute more convenient for
many associates and GO Train users will have underground walking access from
The Company has sold its Jarvis Street building and adjacent lands to the
Government of Ontario, and is currently leasing back the property while it
plans an orderly transition to the new premises.
"The sale of our Jarvis Street building is a single event based on the
availability of space in a location we already occupy," added Mr. Rogers.
"There are no plans to sell other Sears Canada properties other than those
which have already been disclosed. In fact, we continuously seek opportunities
to add new store locations to our current roster."
Sears Canada is a multi-channel retailer with a network of 196 corporate
stores, 179 dealer stores, 61 home improvement showrooms, over 1,800 catalogue
merchandise pick-up locations, 106 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.
For further information:
For further information: Vincent Power, Sears Canada, Corporate
Communications, (416) 941-4422, firstname.lastname@example.org