Sears Shares Are Higher

Sears shares are up 1.6% this morning to $US50.80 after the Chicago-based retail giant
announcedit was spinning off its Land’s End clothing division.

Land’s End was sold to Sears in 2002 for $US1.9 billion.

Sears shares have fallen 20% this week on reports of flagging sales. It’s been losing market share to other big-box retailers, and Fitch recently downgraded some of its debt.

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