Canada's The Brick forced to make spending reductions

11/7/2008 | Toronto Star, The

The Brick retail chain's owner, The Brick Income Fund, said it plans to boost slumping sales through aggressive sales promotions. The weakening of consumer confidence and the economic downturn have forced the furniture, mattress and consumer-electronics retailer to preserve cash by cutting its distributions to unit holders. "The biggest issue for 2009 that all retailers face is the uncertainty," President and CEO Kim Yost said.

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Toronto Star, The

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