Top Stories: National

UPDATE: Sears Canada head said to be negotiating $650 million deal

Struggling retailer Sears Canada Inc’s top executive is negotiating a private-equity backed deal that could be valued at more than $650 million, the Wall Street Journal reported, citing people familiar with the matter.

The retailer’s Executive Chairman Brandon Stranzl last month stepped away from day-to-day operations to focus on plans for the company, which filed for creditor protection in June.

A potential deal by Stranzl would be financed partly through private-equity capital sourced by Vadim Perelman, the founder of Baker Street Capital Management, and with debt financing, people familiar with the matter told the newspaper....

business.financialpost.com

Shoppers still spending at Canada’s biggest malls, researchers say

Although the retail sector has slower job growth than the rest of the economy, big Canadian malls are doing just fine, according to Craig Patterson, director of applied research at the University of Alberta’s School of Retailing.

“These top shopping centres are still doing really well and a lot of them actually have slightly higher numbers than they did last year, when they were also performing really strongly.”

globalnews.ca

How Indochino Makes a Custom Fit Suit for Under $500

A custom-fit suit at a price better than a department store’s? That’s the promise of a new breed of suitmakers.

fortune.com

Marcello Leone: ‘Stay true to what you’re doing. It takes time’

Terrific insight from RYU Apparel head. "I'm a big believer that everything is possible in life. You just have to want it and go. No matter how hard, you have to keep going. If our ancestors have taught us anything, it's that anything is possible."

beta.theglobeandmail.com

Three retailers recognized for innovation

The Retail Innovation Awards recognize outstanding leadership in the retail sector...

thechronicleherald.ca

Empire’s Michael Medline on e-commerce, discount and more | Canadian Grocer

Grocery retailers posts strong results, but CEO says there’s still work to be done

canadiangrocer.com

PAYWALL: Tim Hortons franchisees seek price increases to offset rising wages

(Available only to G&M paid subscribers and free for mobile app users) -- Interest group pens letter saying it’s concerned with parent RBI’s failure to help store owners cope with cost of pending minimum wage increases in Ontario and Alberta. (Marina Strauss, Globe & Mail).

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