Is Sears Looking to Sell Lands’ End?
A Women’s Wear Daily article reported that Sears, Roebuck & Co. wants to sell its Lands’ End catalog company which it bought for $1.9 billion in 2002.
Sears is asking $1.2 billion for the company according to Women’s Wear Daily, and J. Crew’s majority stakeholder, and David Dyer, Tommy Hilfiger’s president and CEO have their eyes on Landy’s End.
A CNN Money article says:
“The timing of a sale of Lands’ End is favorable. Sears and Kmart Holdings Inc. are in the middle of an $11 billion merger deal, which goes to a shareholder vote March 24, and each company individually may be looking to shed some assets, the report said.
A Sears spokesman told the publication that Lands’ End was not for sale, adding that ‘Lands’ End is a cornerstone brand for Sears.'”
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