Transform Holdco LLC, which owns Sears and Kmart and is controlled by the former Sears Holdings Corp. SHLDQ +5.07% chief executive Edward Lampert, is buying the 42% of Sears Hometown & Outlet Stores Inc. that Mr. Lampert’s hedge fund and affiliates don’t currently own for $2.25 a share in cash, the companies, according to today’s Wall Street Journal. Sears Hometown stores were spun off from Sears Holdings about seven years ago. Sears Hometown had net sales of $1.4 billion in its last fiscal year, which ended Feb. 2. It has more than 600 Sears Hometown and Outlet stores.
A MNPerspectives analysis Jan. 18 regarding whether Sears could be saved and if so, what it would become, predicted that Hometown Stores would be the key to Sears upcoming plans. It was first discussed live in a WCCO-AM radio interview that provided more perspective on what’s happened, what’s happening and what it means to Minnesotans.