Sears May Separate Auto Center, Lands' End Business

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Oct. 29 (Bloomberg) -- Sears is evaluating the separation of its Lands’ End and Sears Auto Center businesses from the rest of the company and selling store leases in Canada to raise cash as it goes through restructuring. Bloomberg Businessweek's Mina Kimes and CIO and Chairman of Ritholtz Wealth Management Barry Ritholtz speak with Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Bloomberg analyst.

Tell the viewers what they're thinking of doing over there.

Big news.

Going to separate a couple of the businesses.

Lands end.

They have made it clear they want to sell completely the auto business.

They were not clear exactly on what they were going to do.

Could be something like what happened with something -- this has been a disaster.

This company has only made money in the fourth quarter.

Loses money and all the other quarters.

The question is, is this a substantial change or flailing about for anything they can do?

By reed has been we do not want hedge fund managers running retail establishments because they do not seem to know what they will be doing.

Eddie lampert is a hedge fund guy.

Right.

No ground in real estate.

The original thought was this is a giant in the state play.

It seems to be a giant mess.

Does not appear there is any rhyme or reason for various moves.

They recently sold five store leases.

Part of the stores better performing stores.

The core business struggling.

It has been for some time.

If you want to see the way the retail world has changed on the low end, target has become chic, the modern alternative to sears.

If you want to go further downstream to dollar stores or walmart, sears find itself with an ambiguous identity.

What their brand is, who the client is, that is not clear anymore.

That is an unusual stock.

A lot of times when you see moves like this, what does that mean?

Mean anything about the underlying business?

No one really knows.

Talks of real estate.

Or is the sense of overall strategy.

Rex if you look at a five-year chart, every time it rallies it is a cell.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change