Eaton's boosts earnings forecast

Article Abstract:

T. Eaton Co. Ltd. of Toronto, Canada, increased its final earnings forecast for fiscal year ending January 1999, to C$58 million, or C$3.23 per share, from the company's preliminary earnings forecast of C$52 million. The company's preliminary earnings forecast was stated at its preliminary prospectus submitted with the Ontario Securities Commission. Eaton also announced plans to open in-store supplier shops numbering 2,200 by fall 1999. In order to build the planned shops, the company has allocated around 30% of the estimated C$175 million that Eaton generated from its initial public offering.

Comment:

Raises its final earnings forecast for fiscal year ending January 1999, to C$58 mil from C$52 mil

Financial reports

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Sears squeezes men's wear suppliers

Article Abstract:

Sears Canada Inc., a retail chain based in Toronto, Canada, is asking its suppliers of men's wear for an additional 3% discount, which is retroactive to July 1, 1998, on shipments to its stores. Sears Canada has announced the new terms at a meeting with suppliers, which are scheduled to renew their contracts with the firm by July 17, 1998. Reportedly, Sears Canada wanted to generate savings that will be used instead for cost of its men's wear department advertising and renovation. Several of Sears Canada's suppliers were discouraged with the new terms.

Comment:

Asks suppliers of men's wear for additional 3% discount, which is retroactive to 7/1/98, on shipments to its stores

Contracts & orders received, Sears Canada Inc.

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Eaton's stumbles in launch of teen shops

Article Abstract:

T. Eaton Co. Ltd.'s strategy of attracting long-ignored teen shoppers to its stores, is threatened by delays in the introduction of its new teen shops. The Toronto, Canada-based firm planned to launch on Aug. 17, 1998 the new shops that will carry trendy, urban merchandise in a hip shopping environment that features music videos and couches. Eaton, which touted the strategy as its biggest launch ever, stands to lose millions in sales during the back-to-school season, which is usually one of the key shopping events of the year.

Comment:

Plans to attract long-inored teen shoppers is threatened by delays in the introduction of its new teen shops

Strategy & planning

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