Sears to Spin Off Orchard Supply Hardware

Sears plans to spin off its home improvement unit, Orchard Supply Hardware Stores, as a separate publicly traded company. Often called OSH, Orchard Supply is a San Jose, Calif.-based chain that operates 89 stores, all in California. Shares of OSH, which plans to be traded as OSHS on the Nasdaq once it becomes a standalone company, will be distributed to Sears Holdings shareholders.