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Saks supports Red Cross, local charities with new initiative
NEW YORK — Saks has introduced its Saks Love Your Cause Initiative, which will give 5% of all registered purchases to the American Red Cross and select local organizations, during February.
“Saks Fifth Avenue is committed to our local communities. We appreciate our customers’ charitable involvement and look forward to giving back locally for a second year with this exciting and newly implemented national program,” Steve Sadove, chairman and CEO, Saks Inc., said.
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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.