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Sears Canada lays off 700 employees
New York -- Sears Canada is letting go of 700 workers as part of a plan to "right-size" the operation.
The lay-offs will include 360 department store associates and about 300 distribution center workers, as well as some head office personnel.
Sears Canada, majority-owned by Sears Holdings Corp., has falling sales. It is also facing major competition by Wal-Mart Stores and Target, which is set to make its Canadian debut this spring. -
Harris Teeter Q1 income up 67%; nine new stores on tap
Matthews, N.C. -- Harris Teeter Supermarkets Inc. reported that its fiscal first-quarter net income rose nearly 67%. The company earned $22.8 million for the quarter that ended Jan. 1, up from $13.7 million in the same quarter last year. The prior year's results included an $18 million cost to settle some pension liabilities and employee benefits in connection with the sale of its industrial thread manufacturing company.