Charlottetown Sears store avoids closure
With the news that Sears Canada is closing 59 stores across the country and eliminating 2,900 jobs, it was business as usual in Charlottetown as that store wasn't on the list of closures.
Sears Canada was granted court protection from creditors on Thursday so it can restructure.
The closures include 20 full-line locations, plus 15 Sears Home Stores, 10 Sears Outlet stores and 14 Sears Hometown locations.
While Charlottetown escaped closure, six other locations in Atlantic Canada — Halifax (outlet location), Dartmouth, Bathurst, Saint John, Truro and Corner Brook — are closing.
Even so, the company has not said what Thursday's announcement will mean for its employees on Prince Edward Island. Sears Canada opened its full-line store in Charlottetown in March 2005.
Jim Cormier of the Retail Council of Canada noted that retail is "one of the most competitive sectors anywhere in the Canadian economy" and "constantly in flux."
"Retail is never for the faint of heart," he said on CBC P.E.I.'s Compass. "Every day you hear about new retailers coming into a small market, which is Canada. And you hear of those that aren't necessarily able to make a go of it or maybe in some cases downsize from where they were a few years ago."
He added that online shopping in Canada only makes up about 10 per cent of a retailer's overall sales compared to in-store purchases. But online purchases are quickly increasing in Canada.
"So, the retailers that have adapted well, they're marrying the two together where they're creating a great in-store experience combined with a great online offering," he said.
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