Sears President and CEO Doug Campbell attends the company's AGM in Toronto on Thursday April 24, 2014. THE CANADIAN PRESS/Chris Young
April 24, 2014 - 6:36 AM
TORONTO - The chief executive of Sears Canada Inc. (TSX:SCC) says he will dedicate more resources to the struggling company's online shopping experience and an updated inventory management system.
Sears Canada CEO Douglas Campbell told the retailer's annual meeting in Toronto that sales through the Internet is one area of the business that's growing — faster than the "managed decline" of its traditional catalogue business.
Campbell outlined several ways that he aims to boost flagging sales, which weakened 10 per cent in the most recent quarter.
He also said Sears Canada plans to launch an updated "real-time inventory" management system that will help determine which stores are overstocked on a product that might be in short supply at another location.
Sears Canada is in the midst of a three-year turnaround plan that intensified last year as the company began to sell off leases for some of its most prominent locations.
The company also began a more aggressive reduction of staff across its operations to lower expenses.
News from © The Canadian Press, 2014