Carter Hawley Hale may sell a wholly owned unit.
The Los Angeles-based retailer said it is considering the sale of Holt Renfrew & Co., a Canada-based subsidiary. The profitable division, bought in 1972 for $12 million, operates 15 high-fashion specialty stores and is the company’s only non-U.S. division. In 1984, it accounted for about 3% of Carter Hawley’s $3.7 billion in revenue. Carter Hawley, which has retained Salomon Bros. to explore the possible sale, said it believes that its long-term interests can best be served by concentrating its resources within the United States.
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