Sears Reportedly to Sell Lands’ End
From Associated Press
Sears, Roebuck & Co. may be working on one last big sale before its merger with Kmart: a sale of Lands’ End.
According to a report by Women’s Wear Daily, a retail trade publication, Sears has put the casual clothing manufacturer up for sale for $1.2 billion. That’s $700 million less than it paid three years ago for the Dodgeville, Wis.-based unit, which sells apparel through catalogs, about 30 retail and outlet locations and Sears department stores.
The report comes as Sears is in the final stages of being acquired by Kmart Holding Corp. for $11 billion. Sears declined to comment on the report.
Shares of Sears rose 45 cents to $58.45 on the NYSE. Kmart shares were up $1.93 to $130.68 on Nasdaq.
