Sears Spins Off Hometown
Sears Holdings Corp. plans to spin off its Hometown and Outlet stores to shareholders Tuesday. Hometown stores are small hardware stores, usually operated by independent retailers. Outlet stores sell Sears merchandise at a discount. According to a statement late Friday, the Hoffman Estates-based retailer will distribute transferable subscription rights to shareholders Tuesday, allowing them to buy shares of Sears Hometown and Outlet Stores.