Finance & Capital Management

New York -- Looking to better respond to increasingly online and mobile customers, 70% of retail executives said their organizations have adopted an omnichannel strategy to link the consumer's in-store experience with the company's website, mobile device application and social media platforms. This strategy, according to the 2014 Retail Outlook Survey of 100 retail executives by KPMG LLP, will help create a seamless shopping experience for the consumer.

Christopher & Banks president and CEO LuAnn Via said financial results for the second quarter ended Aug. 2 were solid, adding that the company made continued progress toward its long-term growth objectives.

Net sales at the specialty women’s apparel retailer totaled $106.6 million, an increase of 2.3% from $104.2 million for the year-ago period. During the quarter, the company operated an average of 9.3% fewer stores than during the comparable period last year. Same-store sales increased 2.6%.

Foothill Ranch, Calif. – In a regulatory filing with the Securities and Exchange Commission, Wet Seal Inc. said John D. Goodman has resigned as CEO, effective Aug. 26.

Fremont, Calif. - Jos. A. Bank has reached an early termination agreement with Jim's Formal Wear, effective Dec. 31. The company will record a one-time charge of $4.5 million in its fiscal 2014 third quarter in connection with early termination of this contract to supply tuxedo rental inventory and logistics.

Boca Raton, Fla. – Keith Sherwell, who served as CIO of Sears Holding Corp from March 2010 to June 2013, has been named CIO of the Office Depot international division, effective Sept. 15. Sherwell advised the board of OfficeMax during merger negotiations with Office Depot, and has served as a technology integration consultant to Office Depot since the completion of the merger in November 2013.

By Chris Stoneff, Lieberman Software

My experience in cyber security tells me that the retail sector probably represents the most fertile ground for cyber criminals. That's because professional hackers understand that retail has never focused on IT security to the extent seen in other industries (like banks or payment processors) that handle customer payment card data.

San Francisco -- Costco Wholesale Corp. agreed to pay a $335,000 in penalties federal Clean Air Act violations, according to a settlement announced Wednesday by the U.S. Environmental Protection Agency and U.S. Department of Justice. In addition, the retailer will fix refrigerant leaks and make other improvements at 274 of its stores, which EPA estimates will cost about $2 million over the next three years.

Wet Seal CEO John D. Goodman has resigned from the role he took in January 2013. He was charged with turning things around for the struggling retailer and replaced Susan McGalla, who was herself ousted after 11 months amid declining sales.