Lands’ End is going to be spun off from Lands’ End. This is a good deal for shareholders of Sears Holding which is run by ego maniac Eddie Lampert. He has destroyed more value at Sears than he created at K Mart which he used to acquire Sears.
Lands’ End is dear to my heart as we live in Wisconsin where the company is headquartered and my wife worked there for several years. There is lots of value to unlock in Lands’ End.
We would consider Sears as a new purchase so we can get Lands’ End shares. The price target is $58.44 and the stock closed at $49.98.