-
Sears to combine Outlet and Hometown into one company
Hoffman Estates, Ill. -- Sears Holdings Corp. revealed in a Monday filing with the Securities and Exchange Commission that the previously announced spinoff of its Sears’s Outlet and Sears’s Hometown and Hardware stores will now combine the two chains into one separate company.
The move, part of Sears’ initiative to cut expense and regain profits, will result in the newly named Sears Hometown and Outlet Stores Inc. and a public offering that is expected to raise $400 to $500 million for Sears.
-
New Sears subsidiary offers cloud computing services
Hoffman Estates, Ill. -- Sears Holdings announced the launch of a wholly owned subsidiary called MetaScale, that will provide data-management services.
Sears sees the venture as a natural expansion of the resources it has spent to build the infrastructure it needs to manage data for its more than 4,000 Sears and Kmart stores nationwide.