Finance & Capital Management

Aventura, Fla. -- In another move to capitalize on its extensive real estate portfolio, Sears Holdings Corp. has submitted plans to the City of Aventura in Florida for the redevelopment of the Sears property at Aventura Mall into an open-air village that will feature retail, restaurants, offices and a hotel.

 

San Jose, Calif. -- RetailNext Inc., a leader in applied Big Data for physical retail, named Marc Dietz as its chief marketing officer.    Dietz comes to RetailNext most recently from IBM where he led worldwide marketing for the company’s SaaS portfolio, including multiple acquisitions such as DemandTec, Coremetrics, and Silverpop.   

New Albany, Ohio –- Abercrombie & Fitch reported net sales of $911.4 million for the third quarter of fiscal 2014, less than Wall Street forecast, down 12% from $1.03 billion in the year-ago period. The chain cited slowing mall traffic and weaker results in the latter part of the quarter.   

Mike Smith was named SVP finance and CFO North America at McCormick.  In this role he will oversee investor relations, treasury and serve as the CFO of the newly formed North American Leadership Team. 

Smith’s new team focuses on North American alignment and strategy for growth, performance and people. Joyce Brooks, VP, investor relations and Bob Conrad, VP treasurer will report directly to Smith. 

Atlanta –- In addition to obtaining data from 56 million payment cards between April and Sept. 2014, hackers who infiltrated the network of The Home Depot Inc. also obtained the email addresses of 53 million customers.   In a statement on its website, the retailer said the files containing the email addresses, which were separate from the payment card files, did not contain passwords or other sensitive information, but customers should still be on guard against phishing scams.

Brisbane, Calif. –- Net loss at Bebe Stores Inc. increased to $10.8 million in the first quarter of fiscal 2015, up from $7.9 million the same period the prior fiscal year. Loss from discontinued operations boosted total net loss.   Net sales from continuing operations were $102.2 million, a decrease of 6.5% from $109.3 million, primarily as a result of store closures. Same-store sales grew 0.7%, the first quarterly same-store sales increased reported by Bebe since fiscal 2012.

Industrial and construction supplies retailer Fastenal said CEO Willard Oberton planned to resign from the 2,700 store retailer effective December 31.

The company on Friday, Nov. 7 disclosed that  Oberton notified the board of directors the prior Monday of his decision to resign. Plans call for Oberton, 56, to remain as chairman of the company and to be actively involved in strategic planning and performance measurements.

New York -- The CEO of Fastenal, Willard Oberton,  will resign from the 2,700 store chain, effective Dec. 31. Oberton, 56, will remain chairman of the company and continue to be actively involved in strategic planning and performance measurements.