Sears Holdings Corp said it was looking to sell its 51 percent stake in Sears Canada Inc in a process that could result in all of the struggling Canadian department store operator being put up for sale.Shares of Sears Holdings, controlled by hedge fund billionaire Eddie Lampert, were up 2 percent in premarket trading.The company, which operates more than 2,300 stores in the United States and Canada, said on Wednesday it would hire an investment bank to help explore alternatives for its stake in the Canadian company.Sears Canada, which has a market value of C$1.6 billion ($1.5 billion), said it would cooperate with its parent company "to achieve value for all shareholders".
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC fell by 1.19% or $-0.19/share to $15.76. In the past year, the shares have traded as low as $8.84 and as high as $19.89. On average, 19681 shares of SCC.TO exchange hands on a given day and today's volume is recorded at 14840.
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 0.55% or $-0.24/share to $43.23. In the past year, the shares have traded as low as $31.26 and as high as $67.50. On average, 1425750 shares of SHLD exchange hands on a given day and today's volume is recorded at 673760.
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