Edward Lampert Chairman of Sears Holdings (NASDAQ:SHLD) is continuing with the process of monetizing the company's brands. Lands End is one of their key brands along with Kenmore, Craftsman, and DieHard, and it appears to be on the sale block. Reportedly the asking price is about $2 Billion which would be a big boon to Sears. Most positively for Sears shareholders Lampert has begun the process of realizing the sum of the parts value for the company, as opposed to operating only as a retailer.
At TTCM we sold our Sears stock which was one of the larger positions in the portfolio at around $80. We still have a few short puts, and we'd be looking to add if the stock came down materially.
Disclosure: I am long SHLD.