Update from 11:23 a.m. EDT: Updated share price in second paragraph and added Sears spokesperson's comments in third paragraph.
NEW YORK (TheStreet) -- Sears Holdings (SHLD) is popping on rumors CEO Eddie Lampert has taken actions to sell off more of the company's Canadian stores. The New York Post reported on Sunday Lampert is speaking with several banks, including Goldman Sachs, to sell its north-of-the-border assets.
By midday, shares were up 3.9% to $63.75. Year to date, the retailer has climbed 54.1%, surpassing the S&P 500's 26.6% gain.
Sears subsequently denied those rumors. Howard Riefs, Sears director of corporate communications, told TheStreet, "It is false to claim that Mr. Lampert, the CEO of Sears Holdings, is interviewing or otherwise is in talks with investment bankers about Sears Holdings' interest in Sears Canada.
"Sears Holdings reiterates its October 29, 2013 statement that Sears Holdings will work with the board and management of Sears Canada with a goal of increasing the value of our 51% interest and realizing significant cash proceeds to support our transformation."
Last week, Lampert, also the company's chairman and largest shareholder, told Reuters the struggling retailer will seek to close more stores in 2014. Since 2010, the company which owns Sears-branded stores and Kmart has closed around 300 U.S. stores.
Sears reported worse-than-expected third-quarter earnings last week. The Hoffman Estates, Illinois-based business reported a net loss of $5.03 a share, compared to a loss of $3.13 expected by analysts surveyed by Thomson Reuters.
TheStreet Ratings team rates Sears Holding Corp as a Sell with a ratings score of D. The team has this to say about their recommendation: