Blog: The end of the line?
Leonie Barrie | 25 February 2005
What's really in store for Lands' End? Owner Sears, Roebuck & Co's decision earlier this week to axe 6 per cent of the retailer's staff and restructure the business to cater for more online (rather than catalogue) shoppers seems feasible enough. But of course it has sparked rumours that a sale could be imminent. Sears is in the midst of an £11 billion merger with Kmart, and there's no disguising the fact that its acquisition of Lands' End in 2002 (for which it paid $1.9 billion) has been a massive failure. The idea was to put Lands' End merchandise into Sears stores to enhance its apparel offer, but sales failed to take off. Sears is keeping tight-lipped about the whole thing, but how long before the 'For Sale' sign goes up?
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