Sears Considers Separating Lands’ End

Things don't look so jolly for Sears Holdings Corp. heading into the important holiday season. The Hoffman Estates, Ill.-based retailer, in a preview of its third-quarter performance, said Tuesday that losses grew, with continued weak sales. The deteriorating financial results leave Sears evaluating strategic options that at first blush would seem to harm its long-term prospects. The long-suffering retailer is considering separating its Lands' End and auto center units in a bid to raise cash and free up capital. In addition, the company said it will continue to close or sell an unspecified number of stores.