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FORM 3
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
|_____________________|
INITIAL STATEMENT OF |OMB NUMBER: 3235-0104|
BENEFICIAL OWNERSHIP OF SECURITIES |EXPIRES: |
| JANUARY 31, 2005 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE..... 0.5|
Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person
SEARS, ROEBUCK AND CO.
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(Last) (First) (Middle)
3333 Beverly Road
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(Street)
Hoffman Estates IL 60179
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
05/12/02
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3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary)
36-1750680
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4. Issuer Name and Ticker or Trading Symbol
Lands' End, Inc. ("LE")
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director
[X ] 10% Owner
[ ] Officer (give title below)
[ ] Other (specify title below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
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X Form filed by More than One Reporting Person
---
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security|2. Amount of |3. Ownership |4. Nature of |
| (Instr. 4) | Securities | Form: Direct| Indirect |
| | Beneficially| (D) or | Beneficial |
| | Owned | Indirect (I)| Ownership |
| | (Instr. 4) | (Instr. 5) | (Instr. 5) |
|____________________|_______________|_______________|____________________|
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Common Stock, $.01 | | | |
par value | 16,461,214 |D | |
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| | | |
| | | |
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| | | |
| | | |
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 4)
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2. Date Exercisable and Expiration Date (Month/Day/Year)
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Date Exercisable Expiration Date
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3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
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Title Amount or Number of Shares
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4. Conversion or Exercise Price of Derivative Security
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5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 5)
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
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EXPLANATION OF RESPONSES:
On May 12, 2002, Sears, Roebuck and Co. ("Sears") entered into an
Acquisition Agreement and Agreement and Plan of Merger, dated as of
May 12, 2002 (the "Merger Agreement"), with Inlet Acquisition Corp.
(the "Purchaser") and Lands' End, Inc. (the "Company"). In connection
with the execution of the Merger Agreement, Sears and the Purchaser
entered into Tender Agreements, each dated as of May 12, 2002 (the
"Tender Agreements"), with certain stockholders of the Company,
including Mr. Gary C. Comer, founder and Chairman of the Company and
the Richard C. Anderson Trust, which is associated with Mr. Richard
C. Anderson, the Vice Chairman of the Company. Pursuant to the Tender
Agreements, the Tendering Stockholders have agreed, among other
things, to tender their shares of common stock, $.01 par value per
share (the "Shares"), of the Company to the Purchaser in its cash
tender offer for 100% of the issued and outstanding shares of the
Company (the "Offer"), and have granted Sears a purchase option on
their Shares at the price of $62.00 per Share which is exercisable
upon certain circumstances. Approximately 55% of the outstanding
Shares are subject to the Tender Agreements. Beneficial ownership of
the Shares referred to herein is being reported solely because the
reporting person may be deemed to have beneficial ownership of such
Shares as a result of the Tender Agreements. Neither the filing of
this Form 3 nor any of its contents shall be deemed to constitute an
admission by Sears nor the Purchaser that it is the beneficial owner
of any of Shares referred to herein and such beneficial ownership is
expressly disclaimed.
/s/ Glenn R. Richter
Senior Vice President, Finance
on behalf of Sears, Roebuck and Co. 05/21/02
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** SIGNATURE OF REPORTING PERSON DATE
_______________
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS. SEE 18 U.S.C. 1001 AND 15 U.S.C. 78ff(a).
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY
SIGNED. IF SPACE IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE.
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
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Joint Filer Information
Name: Inlet Acquisition Corp.
Address: c/o Sears, Roebuck and Co.
3333 Beverly Road
Hoffman Estates, Illinois 60179
Designated Filer: Sears, Roebuck and Co.
Issuer and Ticker Symbol: Lands' End, Inc. (LE)
Date of Event Requiring
Statement: 05/12/02
Signature: INLET ACQUISITION CORP.
/s/ W. Anthony Will
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W. Anthony Will
By: --------------------------
Vice President and Treasurer
Title --------------------------
05/21/02
Date: --------------------------
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