Sears Holdings Corporation (Holdings) has completed its previously announced spin-off of its interest in Orchard Supply Hardware Stores Corporation. Orchard is now independent from Holdings and its Class A Common Stock will begin trading on Jan. 3, 2012 on the NASDAQ Capital Market. Holdings will continue to be listed on the NASDAQ Global Select Market.
Sears Holdings Corporation (“Holdings,” “we” or “our”) (NASDAQ: SHLD) today announced that it has completed its previously announced spin-off of its interest in Orchard Supply Hardware Stores Corporation (“Orchard”). Orchard is now independent from Holdings and its Class A Common Stock will begin trading on Jan. 3, 2012 on the NASDAQ Capital Market under the ticker symbol “OSH,” and Orchard’s Series A Preferred Stock will be quoted on the OTCQB. Holdings will continue to be listed on the NASDAQ Global Select Market under the symbol “SHLD.”
The spin-off was effective at 11:59 p.m. EST on Dec. 30, 2011. Holdings’ shareholders of record as of the close of business on Dec. 16, 2011, the record date for the spin-off, received shares of Orchard Class A Common Stock and Orchard Series A Preferred Stock, on a pro-rata basis, that were held by Holdings immediately prior to the spin-off.
About Sears Holdings Corporation
Sears Holdings Corporation is the nation’s fourth largest broadline retailer with over 4,000 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, consumer electronics and automotive repair and maintenance. Sears Holdings is the 2011 ENERGY STAR® Retail Partner of the Year. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands’ End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has the Country Living collection, which is offered by Sears and Kmart. We are the nation’s largest provider of home services, with more than 11 million service calls made annually. Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation.