HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. says it will spin off its Lands’ End clothing
business as a separate company.The retailer plans to distribute shares in Lands’ End to its current
shareholders.Sears has spun off other businesses, including its Hometown and Sears Outlet stores, to raise
cash.SearsChairman Edward Lampert disclosed recently that his stake in thecompany has been reduced to less
than 50 percent as investors pulledmoney out of his hedge fund.Sears and the company’s Kmart chain have
struggled as rivals have lured away customers over the years.Searssaid earlier this fall that it was
considering separating the Lands’End and Sears Auto Center businesses from the rest of the company. Itdid
not mention Sears Auto Center in Friday’s announcement.Copyright 2013 The Associated Press. All
rightsreserved. This material may not be published, broadcast, rewritten orredistributed.HOFFMAN ESTATES, Ill. (AP) — Sears Holdings
Corp. says it will spin off its Lands’ End clothing business as a separate company.The retailer plans to
distribute shares in Lands’ End to its current shareholders.Sears has spun off other businesses, including
its Hometown and Sears Outlet stores, to raise cash.SearsChairman Edward Lampert disclosed recently that his
stake in thecompany has been reduced to less than 50 percent as investors pulledmoney out of his hedge
fund.Sears and the company’s Kmart chain have struggled as rivals have lured away customers over the
years.Searssaid earlier this fall that it was considering separating the Lands’End and Sears Auto Center
businesses from the rest of the company. Itdid not mention Sears Auto Center in Friday’s
announcement.Copyright 2013 The Associated Press. All rightsreserved. This material may not be published,
broadcast, rewritten orredistributed.