Dive Brief:
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Women’s Wear Daily recently declared Canada a retail “hot spot,” attributing that in part to the opening of department stores like Nordstrom and Saks Fifth Avenue in the country.
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But other retailers have faltered there, including Canada’s own Jacob’s, and American retailers Target and, of course, Sears.
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A Macy’s spokesperson told Retail Insider that the retailer has no plans to expand into Canada and won’t be buying Sears Canada.
Dive Insight:
There is certainly buzz about who will buy Sears Canada, but the fact is that Sears has been scaling back on Sears Canada’s operations for a while now, selling off leases, closing stores, and letting employees go.
British retailer Primark, American retailer Kohl’s, and others looking to get into Canada could be interested. In fact, Saks Fifth Avenue and Nordstrom have already taken over several former Sears locations. The trouble for parent Sears Holding Corp. is that it’s far from clear what even a successful sale will ultimately do for the struggling retailer.
