Finance & Capital Management

Indianapolis -- Simon Property Group has been recognized by the CDP (formerly known as the Carbon Disclosure Project) and The Global Real Estate Sustainability Benchmark (GRESB) for its ongoing leadership and commitment to sustainability and energy conservation.

New York -- Upscale women’s apparel and accessories company Tory Burch named longtime retail veteran Roger Farah co-CEO as the fast-growing brand looks to expand into a global player. He will share the title with founder and current CEO Tory Burch who will remain chairman. Burch is also the company's largest shareholder.

Sears Canada president and CEO Douglas C. Campbell has resigned his spot so he can return to the United States by the end of the calendar year to tend to personal family issues. The board will commence a search for a new CEO immediately.

Campbell intends to continue as the CEO until Sears Canada names a replacement, but no later than January 1, 2015.

Tory Burch, an upscale women’s apparel and accessories company, has appointed former Ralph Lauren executive Roger Farah co-CEO, sharing the title with founder and current CEO Tory Burch, who will remain chairperson.

The Wet Seal is welcoming back Jon Kubo, this time as EVP and chief digital officer, a newly created position. Kubo will oversee e-commerce, digital marketing and the information technology organization to integrate digital consumer experiences across all business touch points.

Kubo was head of e-commerce and chief information officer at Wet Seal from 2005 through 2011. The company credits him with growing its e-commerce business to its highest sales volume in history through innovative and industry-leading social and mobile customer engagement programs.

Walmart has been on a building boom in Northwest Arkansas. Small-format Express stores have been open now for several years, the new convenience concept Walmart To Go opened earlier this year and the latest development is a hybrid concept that allows online grocery orders to be picked up at a dedicated drive-through facility.

Toronto -- One of the nation’s most venerable department store brands, Saks Fifth Avenue, has given a big boost to the retail revitalization of Lower Manhattan. Saks’ parent Hudson’s Bay Company has signed a lease with Brookfield Property Partners to open two stores in downtown Manhattan: a 85,000-sq.-ft. Saks Fifth Avenue store in Brookfield Place (formerly called the World Financial Center), and a 55,000-sq.-ft. Saks Off 5th store at One Liberty Plaza.

Bentonville, Ark. – Wal-Mart Stores is moving deeper into financial services. The retailer is launching an exclusive checking account product, called GoBank, with Green Dot Corp., a prepaid-cards specialist that has a subsidiary bank. Wal-Mart already offers a prepaid debit card, credit card, check cashing and money transfers.

Union, N.J. – Bed, Bath & Beyond Inc. reported net earnings of $223.95 million in the second quarter of fiscal 2014, down 10% from $249.3 million but still ahead of Wall Street projections. Increases in both interest expense and selling, general and administrative expense helped reduce net earnings.

Canton, Mass. – Dunkin’ Donuts is recruiting franchisees in Minnesota with an emphasis on Minneapolis and Mankato. Seven freestanding Dunkin' Donuts locations are planned to open during the next several years in the greater Duluth area.

To help fuel growth in Minnesota, special development incentives are available, which include reduced royalty fees for three years and up to $10,000 in local store marketing for stores that meet certain goals.