Sears to Spin Off Interest in Hardware Chain

HOFFMAN ESTATES, Ill.-Sears Holdings said Orchard Supply Hardware Stores, in which it holds an interest, has filed a registration statement with the U.S. Securities and Exchange Commission in connection with Sears Holdings' plan to spin off that interest.

Orchard Supply operates 89 full-service hardware stores in California. According to a Sears Holdings' statement, the spinoff will result in certain shareholders (unnamed in the statement and the filing) owning all of the capital stock that Sears Holdings owns immediately prior to the spinoff. This will consist of common stock that will represent about 80 percent of the voting power of Orchard Supply's outstanding capital stock and preferred stock, and 100 percent of Orchard Supply's outstanding non-voting capital stock.

No date was given in the statement as to when the spinoff might be finalized.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017


    September 2017


    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.