RBS Partners is run by the chairman of Sears Holdings Corp (NASDAQ:SHLD), Edward Lampert, and the fund has concentrated investments in AutoNation, Inc. (NYSE:AN), Lands’ End, Inc. (NASDAQ:LE), Sears Holdings Corp (NASDAQ:SHLD). RBS Partners filed its recent SEC 13F filing on November 14 and its current portfolio exceeds $1.5 billion in investments.
AutoNation, Inc. (NYSE:AN) is one of the primary stock holdings of RBS Partners with 8,735,116 shares of the company at current market value of $439 million. AutoNation, Inc. (NYSE:AN) reported net revenues of $4.9 billion along with net income of $107 million from continuing operations for its third quarter 2014. Some of the primary investors of AutoNation, Inc. (NYSE:AN) include ESL Investments, Lone Pine Capital, and Horizon Asset Management. (Click here to see a list of hedge funds holding positions in AutoNation at the end of second quarter)
Lands’ End, Inc. (NASDAQ:LE) is another major stock investment of RBS Partners with investments worth $327 million and 7,952,503 shares of the company. The merchandise company announced its second quarter 2014 results with net merchandise sales and services revenue touching $347.2 million along with diluted EPS of 37 cents per share.
The last few weeks have been a bit difficult for Lands’ End, Inc. (NASDAQ:LE) as a new lawsuit, called “Made in USA” suit, is filed upon the retailer for labeling foreign-made apparel with made in USA tag. According to the plaintiffs, the made in USA tag allows the company to charge higher as the consumer consider these products to be of higher quality. The damages are likely to cross $5 million in total and pose a great legal threat for Lands’ End, Inc. (NASDAQ:LE).
Sears Holdings Corp (NASDAQ:SHLD) is so far the largest stock holding of RBS Partners with 26,438,272 shares of the company at current market value of $667 million. The shares of Sears Holdings Corp (NASDAQ:SHLD) are trading at $35.91 per share and share prices have declined by 26.77% year-to-date making it a difficult year for the retailer. Some of the primary investors of the company include ESL Investments, Fairholme, and Horizon Asset Management.
This article has been written by Prakash Pandey.
