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 assets sold off to raise cash.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 is in a steady state of decline," said Brian Sozzi, chief executive of Belus Capital Advisors. "They're essentially selling their body parts so they stay alive today."
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 1.85% or $0.925/share to $50.90. 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 434751.
Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT traded higher by 0.75% or $0.47/share to $63.10. 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 535112.
Wal-Mart Stores, Inc. (Walmart) operates retail stores in various formats globally. Shares of WMT traded higher by 0.47% or $0.375/share to $79.82. 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 451892.
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