Calvin McDonald's Marathon With Sears
Calvin McDonald at one time was indifferent to Sears and would not shop there. At the time, he was being recruited to be CEO of the retailer's Canada operations. “I think a lot of people saw it as a no-win situation,” he said. “I believe the business can be successful.” McDonald, an avid triathlete and marathon runner has to repair a retailer whose sales and profits have slid annually since 2006, posting a $60.1-million loss in 2011. Department stores are racing to reinvent themselves. Arch-rival Hudson’s Bay Co. this week confirmed its plans to go public soon in a bid to step up its makeover. U.S. competition will intensify soon from discounter Target Corp. and upscale Nordstrom Inc.