The stock spinoff of Orchard Supply Hardware from Sears Holdings Corporation was announced recently in a company press release .

Sears Holdings Corporation describes itself in perhaps a telling way relative to this spinoff as follows:

“About Sears Holdings Corporation

Sears Holdings Corporation is the nation’s fourth largest broadline retailer with over 4,000 full-line and specialty retail stores in the United States and Canada.  Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, consumer electronics and automotive repair and maintenance.  Sears Holdings is the 2011 ENERGY STAR® Retail Partner of the Year.  Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands’ End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands.  It also has the Country Living collection, which is offered by Sears and Kmart.  We are the nation’s largest provider of home services, with more than 11 million service calls made annually.  Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation.  For more information, visit Sears Holdings’ website at www.searsholdings.com. ”

Notice that they don’t mention the soon-to-be stock spinoff, Orchard Supply Hardware,  specifically in there at all even though Orchard operates 89 hardware stores that apparently do a good job and make money.   Further, when I clicked on the link above and poked around looking for more information on Orchard Supply Hardware,  I gave up before I found it.

Maybe I gave up too soon, but Orchard was not front and center, which leads me to believe that Orchard Supply Hardware is worth a closer look as a buy after the spinoff dust settles.  Management of Orchard Hardware Supply very well might be better off on its own, not an invisible part of Sears Holdings.

Tags: Orchard Supply Hardware, sears holdings corporation, shld, stock spin-off, stock spinoff