Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
General Retailers
Department Stores
Return to: RBR Home | General Retailers | Department Stores

Sears moves ahead with Hometown, Outlet businesses spin off

Published 14 August 2012

American department stores chain Sears will move its Hometown and Outlet businesses besides some of its hardware stores in to a separate, public traded company.

Through this move Sears plans to raise nearly $346.5m and control nearly 1,200 small yet profitable franchised stores.

The company said that Hometown stores are primarily independently owned and offer appliances, consumer electronics, and lawn and garden equipment, while hardware stores carry products such as Kenmore appliances, Craftsman tools and DieHard batteries.

Sears chairman Edward Lampert owned ESL Investments will own a majority stake in the business that is being spun off.