Sears Set To Spin Off Hometown, Outlet Stores
Monday August 13th, 2012 - 4:57PM
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Sears is proceeding with its plan to spin off its Hometown and Outlet stores and some hardware stores into a separate public company, according to published reports.
Sears expects to raise $346.5 million from the spinoff, according to published reports citing Sears’ filing with the SEC.
ESL Investments, Inc., controlled by Sears Chairman Edward, will own a majority stake in the spinoff, according to reports.
Tags: Housewares Retail Financials
Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.