OSH delisted: End of a brief era
The Orchard Supply Hardware brand will carry on as a division of Lowe’s, but the ticker symbol will not.
The NASDAQ Stock Market removed Orchard’s class A common stock from listing on the market Wednesday, marking the end of a brief era for the OSH ticker symbol.
After the San Jose, Calif.-based retailer spun off from Sears Holdings in June 2011, its shares hit the market in January 2012. On day one, shares of OSH closed at $23.55. About 16 months later, the share price was $0.30. “Orchard expects that the company’s equity holders will experience a complete loss of their investment as a result of Orchard’s Chapter 11 bankruptcy proceedings,” the company said in a press release Wednesday.
Back in February of 2012, CEO Mark Baker described the retailer’s mid-size store layout (42,000 sq. ft. to 75,000 sq. ft.) as a sort of merger between big store breadth of product and small-store service to customer. "We're not a small big box, but a really big small box," he said.
But losses mounted. The company had earnings of $8.7 million in 2010, but swung to a net loss of $118.4 million in 2012.
Orchard’s class A common stock will continue to trade on OTC Markets under the symbol OSHWQ.