Sears, officially named
Sears Roebuck and Co., is an American chain of
department stores,[2[/url] which was founded by
Richard Warren Sears and
Alvah Curtis Roebuck in the late 19th century. Formerly a component of the
Dow Jones Industrial Average, Sears[3[/url] merged with
Kmart in early 2005, creating the
Sears Holdings Corporation.
Sears Canada and Sears Roebuck are two different companies. Always have been. They both do catalogues and my wife buys out of it all the time. We even have a Sears Catalogue store here in Greenwood, BC
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Sears Canada was formed in 1952 as a joint venture of
Simpson's and United States retailer
Sears, and it remains majority owned by the latter. On March 31, 2005, the majority ownership stake was officially transferred to
Sears Holdings Corporation (Nasdaq:
SHLD) which owns 73.1% of Sears Canada common shares, while
Pershing Square Capital has 17.3%, and the remainder of the shares are publicly traded on the Toronto Stock Exchange.[4[/url]
Currently the largest Sears stores are located in
Toronto Eaton Centre and
Pacific Centre in
Vancouver.
They are in the process of downsizing and are closing stores across Canada.