Advertisement

BRIEFLY / RETAILING

Share

* Sears Canada Inc., deciding the historic Eaton brand name is too precious to give up or lose to potential U.S. rivals, said it will buy at least five key big-city stores from T. Eaton Co. and operate them as upscale Eaton’s stores. Sears Canada, majority-owned by Sears, Roebuck & Co., had earlier agreed to buy up to 13 suburban stores from the insolvent company. Sears also said it will revive Eaton’s catalog and run its online business under the Eaton banner.

* Walgreen Co., the largest U.S. drugstore chain, said its fiscal fourth-quarter earnings rose 5.2% to $161 million, or 16 cents a share, matching estimates by analysts, on higher prescription-drug sales, new stores and lower costs. Sales jumped 19% to $4.56 billion, and sales at stores open at least a year climbed 13%.

Advertisement