Consumer Affairs & Relations

Hoffman Estates, Ill. – Sears Holding Corp. expects to form a real estate investment trust (REIT) within a few months and sees nothing wrong with paying vendors early. In a public blog post, Rob Schrieshiem, executive VP and CFO of Sears, said the company expects to form an REIT to purchase between 200 and 300 stores by June 1, 2015.

Marketing and a strong assortment helped teen retailer Tilly’s report an increase in profits and same store sales in the fourth quarter.

Revenues increased 9.2% from last year to $152.82 million. Analysts expected revenues of $151.43 million. The company said same store sales, which include e-commerce sales, increased 2.9% from the corresponding period in 2013.

Armonk, N.Y. – Mobile app use continues growing rapidly, but businesses are not keeping pace with security. According to new research from IBM and Ponemon Institute, nearly 40% of more than 400 large companies studied, including many in the Fortune 500, aren’t taking the right precautions to secure the mobile apps they build for customers.

Just two years after starting the job, the general counsel at Dollar General has been promoted to executive vice president.

Goodlettsville, Tenn. -- Dollar General Corporation announced that Rhonda M. Taylor, currently senior VP and general counsel, has been promoted to executive VP and general counsel.

“Rhonda is a valuable member of our executive leadership team and is a trusted advisor on legal and business issues impacting Dollar General. In addition, she provides outstanding leadership and I look forward to her continued success at Dollar General,” said Rick Dreiling, chairman and CEO.

The National Retail Federation testified before Congress Wednesday on the need to pass a federal data breach notification law that applies to all entities that handle sensitive customer data.

Minneapolis -- Target Corp. launched an enhanced return policy covering all of the retailer’s 32 owned and exclusive brands, which extends the return window to one year from the date of purchase.

The retailer also rolled out a one-year return guarantee for guests using Target’s baby, college or wedding gift registry.

Amid a fast-changing industry in which retailers seek to harmonize their online and physical stores, the largest retailer in the world has announced the date of its annual shareholders meeting.

Wal-Mart Stores announced the meeting will be held on June 5 at 7 a.m. CDT in the Bud Walton Arena at the University of Arkansas in Fayetteville, Ark.

The meeting will be webcast on the company’s website at http://stock.walmart.com. The company also announced that April 10 is the record date for that meeting.