HCN Stock Watch: SHLD broken up after breakup with Lands’ End
Sears Holdings (SHLD) took a dip of 6.35% after breaking things off officially with its Lands’ End business unit, which is now trading as a separate entity under the ticker symbol LE.
Red Rocker promotes the sweet taste of sales
Troy, Va.-based Red Rocker Candy is promoting its self-described "old-fashioned" style of candy for home improvement stores hoping to capture a niche in sweets.
The company’s Rocking Chair Mix, Cashew Toffee with White Chocolate, Solid Chocolate Dogwoods and Peppermint Bark are its big sellers, according to the supplier.
The company was founded on April 1, 2002. According to the company: "Red Rocker Candy products bring back the flavors and sentiment of times gone by."
All products are made in Troy, Va.
Sears officially cuts the cord to Lands’ End
After announcing its plans last December to do away with yet another one of its assets, Sears Holdings officially completed its spinoff of the Lands’ End unit on Friday.
As according to plan, Lands’ End began trading as a separate company Monday (stock ticker symbol LE), with about 32 million shares to its name. Those holding Sears shares as of March 24, 2014 received about .3 shares of common Lands’ End stock per Sears share.
Lands’ End is the latest business unit to be sold off by Sears Holdings, which also spun off Hometown and Sears Outlet stores and Orchard Supply Hardware in the past couple years, as well as closed multiple stores and sold several store leases.
The transaction ultimately brought about $500 million to Sears’ coffers, which included a cash dividend paid by Lands’ Ends to a subsidiary of Sears Holdngs.