We recognize that we really don't make enough money in our retail business, ... If you look just at our retail segment we're not happy with our retail performance here. |
We think in terms of pricing and assortment we have very good offerings, ... But we have not been able to break through consumers minds in terms of value perception. |
We'll emphasize better classic apparel while highlighting our strong appliance, electronics and home improvement merchandise, |
We're acquiring a great brand, [and] introducing it into our stores will attract new shoppers...who will connect with our apparel departments better than they would have in the past, |
While revenues are lower, we continue to be pleased with the progress we are making on our repositioning and restructuring initiatives, ... In particular, our focus on gross margins and productivity improvements continue to contribute to improved profitability. |
While revenues continue to be soft, our focus on gross margin, inventory levels and operating expenses is driving substantial profit improvement, |
While we would prefer to own 100 percent of Sears Canada, we are committed to increasing our ownership through this offer in any case. |
With the success of our offer assured, we expect other Sears Canada shareholders to tender their common shares in order to promptly receive our offer price of $18 per share. |