Eddie Lampert-controlled Sears Holdings Corp, struggling with mounting operating losses and declining sales, said it would spin off its Lands' End clothing business, adding to the list of businesses sold off to raise cash.Sears, operator of Sears department stores and the Kmart discount chain, has been selling or spinning off assets over the past few years to try to turn around its business.The company, which had said it was considering selling Lands' End, spun off its Orchard Supply Hardware Stores unit in 2011 and its Sears Hometown and Outlet business last year.In October, Sears sold some Canadian real estate assets for $383 million and said it was considering separating its auto center business to raise cash.
Sears Holdings Corporation (Holdings) is a retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Shares of SHLD fell by 1.85% or $-0.94/share to $49.98. In the past year, the shares have traded as low as $38.40 and as high as $67.50. On average, 1225930 shares of SHLD exchange hands on a given day and today's volume is recorded at 3070817.
Source
