A report by a retail industry publication today says Sears, Roebuck and Company is seeking a buyer for its Lands' End division.
The online report by Women's Wear Daily -- citing anonymous sources -- says Sears is asking 1.2 billion dollars for Lands' End. That's about 700 million less than it paid for the Wisconsin-based unit in 2002. But Lands' End sales have fallen short of expectations and the division isn't seen as a good fit for the combined Sears and K-mart.
Sears spokesman Chris Brathwaite is declining comment on the report.
It comes with Sears in the final stages of being acquired by K-mart Holding Corporation for eleven billion dollars. The merger is expected to close shortly after shareholders vote on March 24th.