Strategy

Hoffman Estates, Ill. – Sears Holdings Corp. reported a third quarter fiscal 2014 net loss of $548 million, up from the $534 million loss it reported in the year-ago period but smaller than its previously estimated. Cost-cutting measures helped Sears reduce its net loss growth. The discounter also revealed that  it plans to close a total of 235 underperforming stores in 2014, which is nearly double the projection of 130 it made in August.  Sears said eliminating those stores should boost EBITDA by $50 million.  

Deerfield, Ill. – Walgreen Co. has named Linda Filler as president of retail products and chief merchandising officer, effective Jan. 1. Filler will be responsible for the vision, leadership, strategic direction and performance of all Walgreens merchandising activities.   

New York - Deb Stores Holding LLC, owner of Deb Shops, has filed for Chapter 11 bankruptcy protection in Delaware, with plans to close  stores and sell inventory if it can’t find a buyer for the business.   

Momentum continues to build at Kroger where the company elevated expectations for its fourth quarter performance after a better than expected showing in the third quarter.

New York – Earning a reputation is not always a good thing, but in Google’s case it is a positive development. Google has received top ranking in the new Corporate Social Responsibility (CSR) RepTrak Study from Reputation Index. Google beat out number two company Microsoft, which held the top spot in 2012 and 2013. Nestle exited the top 10 list this year, while Lego is the one new entrant. The full top 10 list is:   1. Google 2. Microsoft 3. Walt Disney

Sam’s Club Travel is the name of the warehouse club operator’s new mobile application that offers interesting new functionality and members only savings.

Sam’s has offered travel services for a long time but the new app is a noteworthy development because it is distinct from the existing Sam’s Club app. Sam’s Club said it is the first mass market retailer to offer members a mobile app exclusively dedicated to leisure and business travel needs.

Philadelphia – Destination Maternity Corp. swung to a net loss of $2.48 million in the fourth quarter of fiscal 2014 from net earnings of $5.63 million in the same quarter last year. Higher cost of goods sold, as well as higher selling, general and administrative (SG&A) charges and other charges, helped push Destination Maternity out the black and into the red.   Net sales fell 5% to $122.05 million from $128.25 million. Same-store sales dropped 5%.