Finance & Capital Management

New York -- For the second consecutive year, security ranks as the top spending priority of CIOs in an annual survey by PiperJaffray, with 75% of respondents expecting to increase spending in 2015, up from 50% last year.  

The results reflect Network (firewall) and endpoint security were the top two segments of the market expected to see an increase in spending.

Chicago -- True Value Company announced the appointment of Lars Hybel to VP international, effective Jan. 12.

Hybel has a wealth of experience leading multinational and global teams, having worked for more than 15 years at Electrolux. Most recently, he was VP and general manager, global business unit, Electrolux Central Vacuum Systems, leading the transition of three regional operations to a global matrix organization, and successfully coordinating the first mass-channel entry in Canada, driving significant market share gain.

Things are not looking up at Wet Seal, which has announced that it will close 338 stores, or about 66% of its total portfolio, “on or about” Jan. 7, resulting in the termination of some 3,695 full- and part-time employees.

The struggling teen apparel retailer said the decision to close the stores was based on its overall financial condition and an inability to negotiate meaningful concessions from its landlords.

The company said the 338 stores represented approximately 48% of its sales for the nine months ending on November 1, 2014.

New York – Retail mall vacancies slightly rose in the fourth quarter of 2014, from 7.9% in the prior quarter to 8%. According to real estate research firm Reis Inc., the closure of 200-plus Sears stores during the year drove the increase, the first recorded since the third quarter of 2011.

Reston, Va. -- Retail e-commerce spending from desktop computers for the entire November-December 2014 holiday season totaled $53.3 billion, up 15% from the corresponding days last year.

Foothill Ranch, Calif. -- The Wet Seal announced it would 338 stores, or about 66% of its total portfolio, “on or about” Jan. 7, resulting in the termination of some 3,695 full and part-time employees. The struggling teen apparel retailer said the decision to close the stores was based on its overall financial condition and an inability to negotiate meaningful concessions from its landlords.   

Americans’ appetite for e-commerce grew again in 2014 with holiday sales slightly exceeding an optimistic forecast by digital measurement firm comScore.

Total desktop online sales for the entire November through December holiday season advanced 15 percent to $53.3 billion, comScore said. Cyber Monday retained its crown as the highest volume day with e-commerce spending of more than $2 billion.

Monroe, Mich. - La-Z-Boy Inc. has appointed Barbara J. Runyon as chief human resources officer. She will join the company on Feb. 2 and provide leadership and oversight for talent management, employee engagement, workforce development, and compensation and benefits.

Runyon joins La-Z-Boy from PepsiCo/The Pepsi Bottling Group, where she spent 14 years in various HR positions of increasing responsibility. Most recently, she served as senior director of HR for the company's Midwest region.