Strategy

WAYNE, N.J. — Gerald Storch, is vacating his role as CEO of Toys"R"Us after seven years of service. He will retain his title of chairman of the board and will continue as CEO until a successor is found.

Storch joined Toys'R'Us in February 2006 after spending more than 10 years at Target in roles of increasing seniority. At Target, Storch helped develop the Super Target concept and grow the company's grocery business. Prior to joining Target, he was a partner at McKinsey & Company, specializing in retail and financial services.

GRAND RAPIDS, Mich. — Meijer is investing more than $160 million in new store construction and remodeling.

The investment includes the construction of six new Meijer supercenters and major remodel projects for an additional five stores. Michigan, Indiana and Illinois will each welcome two new Meijer supercenters, with remodel projects planned at an additional four Michigan stores and one Meijer location in Illinois.

CHICAGO — Former Sam's Club exec, Linda Hefner Filler, has joined Claire’s Stores, as North America president, effective March 1. She will report to Jim Fielding, CEO.

In her role as resident, Hefner Filler will be responsible for all operational and strategic initiatives for the Claire’s business in the approximately 1,500 Claire’s stores in the United States, Canada, Puerto Rico and the Virgin Islands.

STAMFORD, Conn. -- GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with JCPenney.

The JCP consumer card program provides credit to millions of consumers who shop at more than 1,100 JCPenney stores in communities across the United States and Puerto Rico, as well as online at JCP.com. 

MATTHEWS, N.C. — Carolina retailer Harris Teeter may be exploring a sale, the Wall Street Journal reported Tuesday evening. 

According to the report, Harris Teeter is being advised by JP Morgan. WSJ tabulated Harris Teeter's market value at $1.8 billion for its 200 supermarkets. 

EAST RUTHERFORD, N.J.  -- Health and beauty aid manufacturer, CCA industries announced that its president and CEO Dunnan Edell has died unexpectedly. 

Washington -- Retail sales ticked up in January as consumers adjusted their spending in response to the increase in payroll taxes and rise in gasoline and energy prices. According to the National Retail Federation, January retail sales (excluding automobiles, gas stations and restaurants) increased 0.3% seasonally adjusted from December and increased 5.4% unadjusted year-over-year.

Grand Rapids, Mich. -- Meijer is investing more than $160 million in new store construction and remodeling.

The investment includes the construction of six new Meijer supercenters, and five major remodel projects.  Michigan, Indiana and Illinois will each welcome two new Meijer supercenters. The remodels planned at an additional four Michigan stores and one Meijer location in Illinois.

Stamford, Conn. -- GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with J.C. Penney Co.

The JCP consumer card program provides credit to millions of consumers who shop at more than 1,100 J.C. Penney stores in communities across the United States and Puerto Rico, as well as online at JCP.com.

New York -- Apple Inc. will shut down 20 stores and move them to new, larger locations, according to the Los Angeles Times.

Tim Cook, CEO of Apple, said that the company is looking to relocate the stores in order to make them larger.

The company also will open 30 additional stores at new locations, mostly outside the United States, including its first location in Turkey.