Sears Canada announces price cuts as part of competitive move

Toronto -- A Thursday report by Reuters said that Sears Canada is cutting prices on more than 5,000 items as a competitive preemptive move before Wal-Mart and Target begin their expansion march across the country.

According to the report, Sears Canada will also roll out weekly sales promotions and new signage.

"In order to better compete in a complex and ever-changing retail industry, the company is committed to getting the value right for its customers," said Sears in a statement. "This will be the first significant change customers will see as a result of the transformation undertaken by the company."

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