View Full Version : I missed it: LE out of SHLD

06-25-2014, 12:48 PM

HOFFMAN ESTATES, Ill., April 4, 2014 /PRNewswire/ -- Sears Holdings Corporation (SHLD) today announced that its pro-rata spin-off of Lands' End, Inc. ("Lands' End") from Sears Holdings closed on April 4, 2014. Lands' End has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol "LE" on April 7, 2014. Sears Holdings will continue to be listed on the Nasdaq Global Select Market under the symbol "SHLD." Sears Holdings received aggregate gross proceeds from the spin-off of $500 million, consisting of a cash dividend paid by Lands' End prior to the spin-off to a subsidiary of Sears Holdings.

It concluded on 3/24 at 5:30 P.M.

I was a loyal customer a long time before being acquired by SHLD. Now that they're no longer a part of EL's organization, I am happy and will start to purchase their product again.

But, as an stock purchase, what say you? Right now, my sole thesis is buying what you know, and, while this is essentially a new company, I can't help but think what they were before was very good and they'll be smart to go back to the same business model and marketing practices along with the high quality goods and services.

OK, let 'er rip!