Sears Canada to Lower Prices on Thousands of Products

Sears Canada announced a revamped pricing strategy, lowering day-to-day prices by an average of up to 30 percent on a wide range of popular items, taking a page from rival Wal-Mart Canada's book. The move comes as Sears Canada faces increasing pressure to boost years of sales declines, part of a strategy from new chief executive Calvin McDonald to compete in a fierce retail market that is girding for the arrival of mass merchant Target next year.