Sears set to spin off Orchard Supply stock on Friday

Stock in Orchard Supply Hardware Corp.    will be distributed on Friday to Sears Holdings Corp.    shareholders as the venerable chain becomes independent once more.

Regular trading will begin Tuesday in the Class A common stock and Series A preferred stock shares of Orchard, an 89-store retail hardware chain based in San Jose, which will be on the Nasdaq stock market under the “OSH” ticker symbol.

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(as reported by Silicon Valley Business Journal)

Lowe’s Buys Online Retailer ATG Stores

In a move that reflects the increased importance of online shopping in the home-improvement market, Mooresville-based Lowe’s Inc. announced Thursday it has purchased ATG Stores, an online retailer of home improvement and lifestyle products. The Kirkland, Wash.-based ATG has more than 500 websites offering 3.5 million products from more than 3,300 name-brand manufacturers. It also has two retail locations in Washington state, according to its website.
(as reported by The Charlotte Observer)