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Barnes & Noble discloses SEC probe
New York -- Barnes & Noble Inc. said is cooperating with a U.S. Securities and Exchange Commission investigation into its accounting.
The SEC notified the bookseller Oct. 16 that it was investigating the company's restatement of earnings announced in July.
The agency’s New York regional office also said it was looking into a former non-executive employee's allegation that the company improperly allocated certain expenses between its Nook e-reader and retail businesses. -
Sears to spin off Lands’ End
Hoffman Estates, Ill. — In a not-so-unexpected move, Sears Holdings Corp. on Friday said it had filed to spin off its Lands' End unit.
Sears has been selling or spinning off assets during the past few years as it struggles to turn around its business. The company sold its Orchard Supply Hardware Stores and its Sears Hometown and Outlet Stores businesses last year. In October, Sears said it would consider strategic alternatives for its line of auto centers. Sears also is selling some store leases in Canada.