Contrary to reports on marketnews.ca and elsewhere on Thursday, Sears Canada is not exiting consumer electronics and window coverings, according to the company's V.P. of Corporate Affairs & Communications. In an exclusive interview Friday afternoon, Marketnews was informed of this by Vincent Power. "I hope to be speaking with you again about electronics for Black Friday, in November," says Power.
He strongly affirmed that Sears Canada stores are still very much in CE retailing. "One or two smaller stores are out of it," he states, "and in all stores it is reduced.
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Best Buy Again Tops Dealerscope 101 CE Retailers
The retailers listed in Dealerscope’s registry of the Top 101 CE retailers in the United States and Canada rang up $233.49 billion in 2012, a modest 2.76 percent increase over the $227.22 billion earned in 2011. Chained to a weak economy, stubborn unemployment, sluggish sales and anemic stock performance, many CE retailers—including powerhouses such as Best Buy (1), Staples (8), Gamestop (10), Office Max (16), Sears (19) and Office Depot (23)—announced plans to close many bricks-and-mortar stores this year.