Finance & Capital Management

Michaels Companies will unveil a 26,500-sq.-ft. Pat Catan’s Crafts and Floral store on May 13 – the first opening since Michaels acquired Pat Catan’s parent company earlier this year.

Women now make up the majority of the leadership team at Best Buy, theStar Tribunereported, with the retailer reaching the tipping point in April when it hired Trish Walker from Accenture as president of services. Having more gender diversity has been a commitment of Best Buy CEO Hubert Joly, who took over in September 2012, the report said.

Both Walmart Canada and Loblaw companies sent financial aid to support the relief efforts in the Fort McMurray community. According to reports published Friday morning, fires in the province of Alberta have to date forced the evacution of 88,000 residents and destroyed more than 1,600 structures.

A surprising decline in retail hiring helped trigger a weak employment report for April.

Job growth in April slowed sharply to a seven-month low. The report gave back growth seen earlier in the year, and the retail industry — excluding automobiles, gasoline and restaurants — showed a decline of 4,900 jobs, the National Retail Federation reported.

The e-commerce giant has entered into an agreement with Atlas Air Worldwide Holdings for Atlas to operate 20 Boeing Co. cargo planes for Amazon. Atlas Air will operate the 20 converted freighters for Amazon on leases from seven to 10 years. “We are excited to welcome a great provider, Atlas Air, to support package delivery to the rapidly growing number of Prime members who love ultra-fast delivery, great prices and vast selection from Amazon,” said Dave Clark, Amazon’s senior VP of worldwide operations.

BJ's Wholesale Club has appointed Lee Delaney as executive VP, chief growth officer, effective May 9.

Delaney will be responsible for the company's merchandising and supply chain organization.

Prior to joining BJ's, Delaney was a partner in the Boston office of Bain & Company, and a leader in the firm's consumer products practice.

Prior to joining Bain in 1996, he worked for Electronic Data Systems and Deloitte Consulting advising clients on a variety of engagements.

Five retail chains rank among the top 10 brands doing a poor job when it comes to emotional engagement, a measure of how well brands meet consumer expectations, according to an annual survey.

Beatrice Lafon, the CEO of teen accessories retailer Claire's Stores, has resigned and been replaced by a current member of the board, according to a Securities and Exchange Commission filing.

Aéropostale is closing its 19,000-sq.-ft. flagship in Manhattan’s Times Square.

The Limited has entered the fast-growing value retail sector.

Moving under the radar, The Limited has quietly debuted a new store concept, called Backroom at the Limited, in six malls across the nation.

The format offers a mix of work-to-weekend apparel, jewelry and accessories, with the merchandise made exclusively for the Backroom as well as the Limited’s outlet stores.