Labor & Employment

Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scully spent nearly 35 years with Target and is moving into a strategic advisory role to ensure the smooth transition of the recently sold credit card portfolio to TD Bank Group. Scully, 60, will officially retire in March 2014. Filling his shoes as head of financial and retail services is Scott Kennedy, 44. He joined Target in 2005 and currently serves as VP of pay and benefits.

NEW YORK — Aeropostale reported that net sales for the fourth quarter decreased 1% to $797.7 million, from $808.4 million in the year ago period. Fourth quarter comparable sales, including the e-commerce channel, decreased 8% compared with a 7% decrease for the corresponding 14-week period of the prior year.  Fourth quarter comparable store sales, excluding the e-commerce channel, decreased 9%, compared to a decrease of 9% for the corresponding 14-week period of the prior year. 

Nashville, Tenn. -- Kirkland's announced that Robert Alderson, the home decor retailer's long-time president and CEO, intends to retire at the end of fiscal 2013, or approximately Feb. 1, 2014.  

In November, Kirkland's said that Alderson was taking a temporary medical leave of absence for six to eight weeks for a non-emergency medical procedure. Mike Madden, Kirkland's SVP and CFO, served as acting president and CEO during that time.

Minneapolis -- Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scully spent nearly 35 years with Target and is moving into a strategic advisory role to ensure the smooth transition of the recently sold credit card portfolio to TD Bank Group. Scully, 60, will officially retire in March 2014. Filling his shoes as head of financial and retail services is Scott Kennedy, 44. He joined Target in 2005 and currently serves as VP of pay and benefits.

Minneapolis -- Christopher & Banks Corp. narrowed its fiscal fourth-quarter loss as the company received a boost from an extra week of sales and cut costs.

The retailer posted a loss of $4.1 million for the 14 weeks through Feb. 2, compared with a loss of $53.2 million in the 13 weeks the year before.

Revenue was up 10%, to $116 million from $105.6 million. Same-store sales jumped 18.5%.

Total expenses fell 25% to $120 million.

BOLINGBROOK, Ill. — Ulta Beauty has named Scott Settersten CFO and assistant secretary, effective immediately. Settersten will report to Dennis Eck, interim CEO.

Settersten has been acting CFO and assistant secretary since October 2012. He previously served as VP accounting since 2010 and was responsible for accounting, tax and external reporting. In that role, he also oversaw investor relations and worked closely with the audit committee and board of directors. He joined Ulta Beauty in January 2005 as director of financial reporting.

BENTONVILLE, Ark. — Walmart President and CEO Mike Duke introduced First Lady Michelle Obama at the Business Roundtable Wednesday with the following remarks:

"We are pleased to be joined by our guest today, First Lady Michelle Obama.  Mrs. Obama speaks movingly about the service, strength, and sacrifice of our current generation of troops, veterans, and military families.  It is a personal privilege to share some of her work and to start our discussion around creating opportunity for this new group of heroes.

PHILADELPHIA — Sparks, a maker of custom retail fixtures, has appointed two new executives to their business development team.  Ilicia Manger and Jeffery Buttson bring a combined total of 35 years of retail fixture industry experience to the Sparks executive team.

Atlanta -- Aaron's, a lease-to-own, announced the recent opening of a combined 32 new company-operated and franchised stores in 17 different states and two Canadian provinces.

The announcement follows a strong growth year for the company in 2012, which included the opening of its 2,000th store in the Bronx in September.

Bolingbrook, Ill.  — Ulta Beauty has appointed Scott Settersten as CFO and assistant secretary, effective immediately. Settersten will report to Dennis Eck, interim CEO.

Settersten has been acting CFO and assistant secretary since October 2012. He joined Ulta Beauty in January 2005 as director of financial reporting.

Prior to joining Ulta Beauty, Settersten spent 15 years with PricewaterhouseCoopers as a certified public accountant serving in various senior manager roles in the assurance and risk management practices.