Sears Canada Inc. has lowered the regular prices on over 5,000 products in which it carries. The retailer says that this move "will be the first significant change customers will see as a result of the transformation undertaken by the company."

Products like Levis Jeans for men, Pyrex metal bakeware, the Keurig Elite Single Serve Coffee Maker, and the Kenmore Easy Clean coil range have all had their prices significantly reduced.

In addition to lower regular prices, Sears is also introducing weekly, specially priced must-have WOW items, and its in-store merchandising will align more directly with what is promoted in the flyers.

Furthermore, new signage has been placed in stores as a way to help Sears customers find key items, while this week's flyer will showcase a wide selection of products that serve as examples of the company's new pricing initiative.

"Our customers are demanding great value every day of the week," says Calvin McDonald, President and Chief Executive Officer, Sears Canada Inc. "The prices now offered at Sears are what Canadians expect from a company committed to providing value day-in and day-out. We also know Canadians love sales, and Sears will continue to offer sale prices and time-limited special promotions that will surprise and delight customers."

In the statement issued by Sears, the company also notes that these new initiatives are being put into motion in order to "better compete in a complex and ever-changing retail industry," and that it's "committed to getting the value right for its customers."

Last month, it was announced that Sears would be letting go of 400 employees.

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