Sears Holdings is spinning off its Lands’ End division, a retailer and direct merchant of clothing and accessories, including jewelry.
The brand currently has 14 retail stores as well as 290 “stores within a store” locations within Sears. It also sells through catalogs and the Internet.
The company will be spun off through the pro rata distribution of its common shares, Sears said. The action is subject to approval of the Sears board and could be canceled, it added.
Sears Holdings acquired Lands’ End in 2002. Sears announced its intention to spin off the company earlier this year.