Sears Canada thrown on the sales block
The Sears Holdings empire plans a strategic retreat from Canada.
In a three-sentence announcement released Wednesday morning, Hoffman Estates, Ill.-based Sears Holdings Corp. said it is "exploring strategic alternatives for its 51% interest in Sears Canada, including a potential sale of Sears Holdings’ interest or Sears Canada as a whole."
The company said it plans to hire an investment bank to help with the sale. It didn’t say which firm.
Sears did say that Sears Canada’s board of directors intends to cooperate with the mother company in the process "to achieve value for all shareholders."
As Sears has struggled in the United States, it has also struggled in Canada, where sales have declined for the past several years. The Canadian division faces expansion efforts from U.S. powerhouses Walmart and Target, and also a customer-base with an affinity to Canadian-grown retail names, including RONA, the country’s home improvement leader.
Stanley promotes point-and-click laser tool
New Britain, Connecticut-based Stanley introduced the new lightweight and compact TLM65 Laser Distance Measurer — model STHT77032.
Featuring a variety of functions in an easy-to-use design, the TLM65 Laser Distance Measurer is small enough to fit in a pocket and works for multiple trades, such as real estate agents, contractors, landscapers, painters and for do-it-yourselfers.
With its automatic calculations, the Laser Distance Measurer makes job estimates easy, instantly calculating square footage — and othe information — of a room or space, the company said.
A simple two-button design makes measuring distance, calculating square feet and even cubic-feet quick and easy. Using the tool, one person can measure 65 ft. without assistance