Sears (NASDAQ:SHLD) is at it again. After announcing plans for a spin-off of its Hometown and Outlet stores, the company now has another idea in the works: selling its Lands’ End Brand — a popular catalog/e-commerce retailer it purchased a decade ago.
Oh, and that brand accounts for nearly half of the company’s profits.
If the move indeed takes place, Sears will be left to compete with big names like Macy’s (NYSE:M) and J.C. Penney (NYSE:JCP) with only its namesake Sears stores, Kmart stores and a few strong brands like Kenmore and Craftsman.
Eddie Lampert — the hedge fund guru who leads Sears and is its majority shareholder — has been selling of the company’s non-core assets in an attempt to turn around the struggling department store.
But with that process, Sears doesn’t have all that much left to offer, especially considering that Lampert has also been signing agreements to have the company’s remaining brands sold at other retailers like Costco(NASDAQ:COST) and Home Depot (NYSE:HD)