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Sears sets Lands' End free
Lands' End will be back on its own as a publicly traded company following a formal announcement by parent company Sears Holdings to spin off the well-known apparel brand.
The move follows years of speculation that Sears would divest the brand, which it acquired in May 2002 for $62 a share. At the time, Lands' End was a publicly traded company with revenues of nearly $1.6 billion, profits of $67 million and earnings per share of $2.23. The $62 a share Sears paid 12 years ago represented a 21.5% premium over the closing pricing of $51.02 prior to the announcement of the deal.
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Schimenti Construction building Aritzia store in The Westchester
Ridgefield, Conn. -- Schimenti Construction Company is in the midst of building its first project for Canadian fashion apparel retailer Aritzia. Located at The Westchester in White Plains, New York, the new Aritzia store is a 5,520-sq.-ft new build-out in a premier shopping location.
Aritzia’s stores are all designed individually, with no two looking the same, but each has a sophisticated lounge-like atmosphere that boasts high-quality natural materials and luxurious finishes.