An economy that was clearly bad has gone to worse after those (Sept. 11) tragedies took place, |
As in the second quarter, we have been able to weather the difficult top-line environment by effectively managing our retail operating expenses and inventories. We are also pleased to have achieved continued gross margin expansion in the third quarter, |
As work on improving the performance of full-line stores progresses, it has become clear that a broad cosmetics business no longer fits with our financial and strategic objectives for Sears full-line stores, |
Clearly business is slowing down. Everybody is cutting back a bit, but our focus has been to structurally change how we do business because how we do business is not working, |
further refine its core business strategy. |
Given the slowing economic environment, 2001 will be a challenging year, particularly in the first half, ... We are very focused on delivering solid profit growth for the year...Income growth combined with our share repurchase program should allow us to achieve high single- to low double-digit earnings per share growth. |
If people can't pay the credit in 180 days, and these are people who would pay in the 240 days they get from Sears, that would affect them, |
If you go to a local running store, such as Often Running, they can do a good job at fitting shoes according to the type of person you are and how many miles you are running a week. Good running shoes generally cost from $70- 80 and up. |
In what is traditionally a clearance month, sales were up in our principal clothing categories, with women's ready to wear, children's and men's apparel all reporting sales gains, ... Outerwear finally benefited from winter's late arrival, with a sizable improvement over last year. |
Kevin left the company at my request because I lost confidence in his personal credibility, ... His departure is not related to business performance and does not constitute a change in credit strategy. |
On a stand-alone basis, Sears Canada's retail business faces an increasingly competitive retail environment in Canada, and the principal factor that will determine the value of this business is the prospects for its retail operations. |
Our actions reflect our heightened focus on productivity and returns. We will continue to identify opportunities to more effectively deploy resources and enhance overall company profitability of Sears off-the-mall businesses, |
Our credit business contributed very strong growth in operating income, ... We are pleased with the quality of our credit portfolio and our ongoing productivity improvements. |
Our offer represents full and fair value for Sears Canada. |
Our offer represents full and fair value for Sears Canada. We firmly believe that our offer provides the best alternative for all Sears Canada shareholders and that Sears Canada's current market price reflects unrealistic market expectations for a higher bid. |