Sears Canada (OTCPK:SEARF) is an example of what many people hope that Sears Holdings (SHLD) can do with its American assets. Sears Canada has sold many of its leases and real estate assets, and issued special dividends to its shareholders with the proceeds.
This process has been facilitated by the strong retail real estate market in Canada, with its high mall productivity that has attracted many international retailers to compete for its limited space in recent years. As a result, Sears Canada's locations are in high demand from landlords who are keen to rent the space to stronger tenants.
Sears Canada's stock price has risen from around $9 in May 2013 to $11 today despite paying...
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