SEARS’ CONVERSION STRATEGY: Sears Canada will convert its remaining seven Eatons stores in Toronto, Ottawa, Winnipeg, Calgary, Vancouver and Victoria to Sears stores by the end of July. This aims to leverage buying and advertising efforts while maximizing the Sears brand’s equity. Sears, Roebuck and Co., which owns a majority stake in Sears Canada, expects to record a one-time charge of approximately $40 million, or $0.12 per share, as a result of this. The company plans to record the charge in the first quarter of 2002. The Eatons stores in Toronto’s Yorkdale Shopping Centre and in Winnipeg’s Polo Park Shopping Centre do business alongside existing Sears stores and the firm will determine which of these stores will be retained as a Sears store at these locations. Approximately 600 employees will be affected by this change.