Sears Seeks Sale of Lands’ End — NY Post (SHLD)
In an exclusive report, the New York Post says that Eddie Lampert, chairman of Sears Holdings Corp. (NASDAQ: SHLD) has been seeking a buyer for the company’s Lands’ End mail-order business. Lampert has pitched Lands’ End to “a handful of…
Sears lost $3.1 billion last year, and the company is trying to raise $2 billion in cash by selling assets. Sears paid $1.86 billion for Lands’ End in 2002, before Lampert took over. There is little chance that the mail-order house will recoup that amount in a new sale. The Post cites analysts who say that in “today’s rocky retail environment [the price will be] in the $1.2 billion to $1.6 billion range.”
Sears’ shares have risen about 6.5% in pre-open trading, to $73.50 in a 52-week range of $28.89-$87.66.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
