Lands’ End in Reorganization
By George Anderson
Speculation that Lands’ End doesn’t fit with Sears and could be subject to a sale or spin off once the merger with Kmart is complete is likely to increase after the apparel retailer announced it was going through a company reorganization that involved 375 jobs being cut.
The company said it was folding its online unit into its regular business operation and that merchandisers and other positions previously dedicated to specific departments within Lands’ End would now work across target customer areas.
According to a report in The Chicago Sun-Times, Lands’ End catalog and online sales were down three to five percent last year. Although the brand’s sales have been slow in moving at Sears’ stores, the chain says there was a noticeable pickup in Lands’ End merchandise volume during the past holiday season.
Moderator’s Comment: What does the announced Lands’ End reorganization mean for it and its place within the merged Kmart and Sears business?
George Anderson – Moderator