Last January, Sears Holdings(SHLD), controlled by Eddie Lampert, spun off Orchard Supply Hardware(OSH). At the time, we were bullish on Orchard. We were wrong. Unfortunately, while the stock has plummeted, we held onto our small stake. Lampert, however has been smarter, as he has cut his stake in half over the past year. Orchard...
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It’s an old story – when will Edward S. Lampert, genius hedge fund manager, finally figure out how to create value out of the cobbled together pile of assets known as Sears Holdings (SHLD)? Recently, Lampert has gone from lackadaisical to peripatetic, spinning off Orchard Supply (OSH), Sears Hometown And Outlets (SHOS), and part...
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Shareholders of Sears Holdings(SHLD) have been once again reminded that entropy is inexorably increasing, at least in their brokerage accounts. Less than a year ago they had only Sears, but since then, they have received in three separate transactions, Orchard Supply Hardware common (OSH) and preferred (OSHSP), warrants to buy Sears Hometown and Outlets...
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The next round of corporate action at Sears Holding (SHLD) is about to begin as the board of directors set today as the distribution date of the rights offerings to purchase shares of its Hometown & Outlet store spinoff. The new company is expected to trade under the ticker ‘SHOS’ and each SHLD shareholder will receive one...
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It’s been a few quarters since Orchard Supply Hardware(OSH) was spun off from Sears Holdings(SHLD). The stock continues to trade at similar levels to where we felt it was a reasonable buy soon after its spinoff. Yesterday, the company issued a brief press release which contained three critical pieces of information. Comparable Store Sales...
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