Canaccord Genuity Morning Coffee on Sears Holdings (SHLD): Breaking It Off
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Price: $47.06 --0%
Rating Summary:
0 Buy, 0 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 20
Rating Summary:
0 Buy, 0 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 20
Trade SHLD Now!
Canaccord Genuity Morning Coffee on Sears Holdings (Nasdaq: SHLD): Breaking it off.
Shares of Sears Holdings surged after CEO Eddie Lampert announced the company was preparing to spin off its Hometown and Outlet Stores, as well as some hardware stores into a separately publicly traded company. Sears had signalled that it would split the companies back in February. There are a total of 1,238 Hometown, Outlet and hardware stores as of April 28, according to Sears. It has already closed five Hometown stores, eight hardware stores and one Outlet store. Sears, which is trying to turn around its business and spruce up its image, has looked at spinoffs and real estate sales to restore profitability and boost shareholder confidence. Aside from the separation of the Hometown, Outlet and some hardware stores, the company announced in May that it would spin off a stake in its Canada division. Sears did not disclose Monday in the filing with the Securities and Exchange Commission how much money it expects to raise with the spin-off. It previously said that it expected the deal to raise $400-500 million. The new company will be listed on the Nasdaq under the "SHOS" ticker symbol (Nasdaq: SHOS).
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Shares of Sears Holdings surged after CEO Eddie Lampert announced the company was preparing to spin off its Hometown and Outlet Stores, as well as some hardware stores into a separately publicly traded company. Sears had signalled that it would split the companies back in February. There are a total of 1,238 Hometown, Outlet and hardware stores as of April 28, according to Sears. It has already closed five Hometown stores, eight hardware stores and one Outlet store. Sears, which is trying to turn around its business and spruce up its image, has looked at spinoffs and real estate sales to restore profitability and boost shareholder confidence. Aside from the separation of the Hometown, Outlet and some hardware stores, the company announced in May that it would spin off a stake in its Canada division. Sears did not disclose Monday in the filing with the Securities and Exchange Commission how much money it expects to raise with the spin-off. It previously said that it expected the deal to raise $400-500 million. The new company will be listed on the Nasdaq under the "SHOS" ticker symbol (Nasdaq: SHOS).
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