Eddie Lampert-controlled Sears Holdings Corp said it would spin off its Lands' End clothing business, adding to the assets the company is shedding as it struggles with mounting operating losses and declining sales.The company, operator of Sears department stores and the Kmart discount chain, has been selling or spinning off assets and closing stores for the past few years to try to turn around its business. Sales have been dropping since Lampert combined Sears and Kmart in an $11 billion deal in 2005.The billionaire hedge fund manager, who took over as chief executive in February, has been criticized for not investing enough in the business, which has earned a reputation for dowdy merchandise and poor service compared to Wal-Mart Stores Inc and Target Corp.Sears shares were little changed on Friday afternoon after rising as much as 4 percent in early trading.
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 traded higher by 0.12% or $0.06/share to $50.04. 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 1751963.
Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT traded higher by 1.25% or $0.78/share to $63.41. In the past year, the shares have traded as low as $58.01 and as high as $73.50. On average, 4743630 shares of TGT exchange hands on a given day and today's volume is recorded at 3817158.
Wal-Mart Stores, Inc. (Walmart) operates retail stores in various formats globally. Shares of WMT traded higher by 0.52% or $0.41/share to $79.85. In the past year, the shares have traded as low as $67.37 and as high as $81.37. On average, 6242190 shares of WMT exchange hands on a given day and today's volume is recorded at 2482959.
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