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Well, they spun IN Land's End before they spun it out. It was not created at Sears.
by rconti 8y ago
Well, they spun IN Land's End before they spun it out. It was not created at Sears.
- tyingq 8y agoBought by Sears in 2002 for $2B cash. Current market cap is ~$468M. Ouch.
- onetimemanytime 8y agobad way to do market math. What if they already made $10 Billion from Land's End since 2002? With zero knowledge, I'd bet that they got their $2b and then some. Acquisitions are /were probably their only asset, since real estate was mortgaged by their hedge fund owner.
- tyingq 8y agoForbes seems to think they overpaid, then ruined it. The market cap was also ~3x higher a few years ago, so it sounds like post spinoff didn't go well either. https://www.forbes.com/sites/markcohen/2016/09/27/landsend-a-victim-of-sears-serial-retail-abuse/ https://www.forbes.com/sites/markcohen/2016/09/27/landsend-a...