Marketing

Minneapolis -- Christopher & Banks Corp. said Thursday it has entered into a new $50 million senior secured revolving credit facility with Wells Fargo Capital Finance.

The new facility provides committed revolving funding through July 2017, and replaces the company’s $50 million credit facility that was scheduled to mature on June 30, 2014.
 

DEERFIELD, Ill. — Walgreens on Thursday named James Skinner, Walgreens board member since 2005 and recently retired McDonalds CEO, as the new nonexecutive chairman of the board of Walgreens. Skinner will succeed Al McNally, who has served on the Walgreens board since 1999 and as nonexecutive chairman since 2009. McNally will continue serving on the Walgreens board.

New York -- Standard & Poor's Ratings Services is further lowering its credit rating on J.C. Penney Co., attributing the move to a continuing weak performance.

J.C. Penney’s corporate credit rating has been lowered to "B+" from "BB-." The junk rating is four notches below investment grade. The move marks the second downgrade from S&P since mid-May.
 

WAYNE, N.J. — FAO Schwarz, in honor of its 150th anniversary, has unveiled a walk-around gallery dedicated to Steiff, one of the most renowned European brands, whose signature products have been offered at FAO Schwarz for more than 100 years. "A Gallery of Classic Steiff Collectibles," is displayed prominently throughout the famed flagship location in New York City. The museum quality exhibit will run through early September and can be viewed online at FAO.com.

New York -- Marvin S. Traub, Bloomingdale’s president and CEO for 22 years, died Wednesday at age 87. Traub had suffered from bladder cancer.

Traub is credited with turning the Bloomingdale’s Manhattan flagship – at Lexington and 59th – into a showcase. He started as a merchandising manager in 1962, and was named president in 1969.

When Craig Herkert left Walmart a few years ago to become president and CEO of Supervalu the situation that unfolded earlier this week at the grocer was not what he had in mind.

A partnership between New York designer Liz Lange and Target has contributed to a transformation of the maternity wear market over the past decade, according to Target’s hometown newspaper the Star Tribune.

A recent article on the partnership and its success quoted Lange and even got SVP Trish Adams to hold still for a photo shoot at a downtown Minneapolis store.

DENVER — ShopAtHome.com, a coupon search engine, announced that Tim Mayer has joined the company as VP marketing.
 
In his new role, Mayer will be responsible for spearheading this objective, overseeing user experience and member engagement.