Sears to spin off Lands' End business

Fri Dec 6, 2013 6:47am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Dec 6 (Reuters) - Struggling U.S. retailer Sears Holdings Corp, led by hedge fund manager Edward Lampert, said it would spin off its Lands' End clothing business.

The spinoff will be through a prorata distribution of Lands' End shares to shareholders, Sears said in a regulatory filing on Friday.

The operator of Sears department stores and the Kmart discount chain is trying to turn around its business after suffering from declining sales since 2005.