Palm Beach, FL 1/3/12 (StreetBeat) -- Orchard Supply Hardware Stores Corporation, a specialty retailer serving homeowners with repair, maintenance and improvement needs, announced that its spin-off from Sears Holdings Corporation (Nasdaq:SHLD) was completed at 11:59 p.m. EST on December 30, 2011. Trading of Orchard’s Class A Common Stock will begin today on the Nasdaq Capital Market under the symbol “OSH”. Orchard also has Series A Preferred Stock that will be quoted on the OTCQB under the symbol “OSHSP”.Mark Baker, President and Chief Executive Officer of Orchard commented on the spin-off, "We look forward to Orchard being an independent publicly traded company. During the past year, our team has made significant progress toward developing a differentiated home improvement retail experience. We’re implementing new customer service initiatives and merchandising strategies, and have begun transitioning our stores to a new updated and customer-friendly format that more effectively showcases our merchandise and service offerings. We believe these actions will enable us to leverage the 80-year history of the Orchard brand in order to drive long-term growth and build value for our shareholders.”
Baker continued, “We are thankful for the dedication and hard work of Orchard’s operating team, associates and store employees. We have a remarkable company culture and a talented group of people who are committed to building on Orchard’s long history of superior customer service, selection and convenience.”
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