TORONTO (Reuters) - Sears Canada Inc (TO:SCC) is stepping up spending on areas like its website and profitable merchandise categories, while looking to exit unprofitable product lines as part of its turnaround plan, the retailer's new acting chief executive said on Friday.
"We're going to make some of those tough decision about businesses in short order," Ron Boire told Reuters in an interview, adding that the company was in a very strong liquidity position, with no short- or long-term debt.
"We have all of the ... capital capability that we need to fund the transformation and operation of the business. We're very comfortable with that."
He declined to provide details on which long-time product lines may be cut, but said this will be announced at the next shareholders meeting scheduled for April.
Sears Canada, which has seen its fourth chief executive in three years, has been working on turning around operations, but posted another loss during the third quarter on declining sales.
(Reporting by Solarina Ho; Editing by Jeffrey Hodgson and James Dalgleish)