Sears Holdings Corp (NASDAQ:SHLD) has completed the spin-off of the Lands' End, Inc. (NASDAQ:LE) brand, the fourth in just 30 months, bringing in some very welcome cash, but the company doesn’t have a great track record of generating shareholder value from spin-offs and losing one of the most profitable parts of its business makes Sears's long-term prospects look even worse than they did before.
Orchard Supply Hardware Stores Corporation (OSH), spun-off at the end of 2011, is currently in Chapter 11 bankruptcy liquidating its assets. Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS) is down more than 20% since it was spun off in late 2012 while the market as a whole was rallying. Sears Canada Inc (TSE:SCC)...
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