The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

Sears Canada Announces Alliance with Reitmans Canada to Provide Penningtons Plus-Size Fashions for Sears Stores and Website

Thursday, July 11, 2013

Sears Canada Announces Alliance with Reitmans Canada to Provide Penningtons Plus-Size Fashions for Sears Stores and Website

07:00 EDT Thursday, July 11, 2013

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 2014.

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 environment."

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:
Vincent Power
Sears Canada Corporate Communications
416-941-4422
vpower@sears.ca

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

Digital Business Solutions
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections