Strategy

Chad Kessler was named chief merchandising and design officer at American Eagle Outfitters after the company reported a big decline in third-quarter profits and said it expects fourth quarter same-store sales to decline.

Hoffman Estates, Ill. – Sears Hometown and Outlet Stores reported mostly negative financial results for the third quarter of fiscal 2013. Net earnings fell about 12% to $7.69 million, from $8.76 million.

A 2% decrease in same-store sales and unfavorable calendar shift due to the 53rd week in fiscal 2012 offset slight growth in net sales to $561.1 million from $556.9 million.

By Gary Ambrosino, president, TimeTrade

The November Consumer Confidence Index made headlines as the numbers slumped to the lowest point within the last six months. On the surface, this could cause concern for retailers this holiday season. However, when you’re in a store, how often do you actually think about an economic indicator when you’re deciding how much to spend?

North Plainfield, Manahawkin, N.J. — The Stafford Park shopping center in Manahawkin, N.J. has named Levin Management as its exclusive leasing agent. The 350-acre mixed-use redevelopment project includes 400,000 sq. ft. of retail space, including anchor tenants Costco and Target. The site has received approval to add another 195,000 sq. ft. The new retail space includes several pad sites.

In a move designed to accelerate adoption of RFID at the item level, Avery Dennison has signed a licensing agreement with Round Rock Research.

Fort Worth, Texas — Trademark Property Co. and Zapolski Real Estate LLC have announced a joint venture to lead the $25 million redevelopment, now underway, of Napa Center, a 153,000-sq.-ft. retail and hospitality district in the heart of downtown Napa, Calif.

Hoffman Estates, Ill. — In a not-so-unexpected move, Sears Holdings Corp. on Friday said it had filed to spin off its Lands' End unit.

Sears has been selling or spinning off assets during the past few years as it struggles to turn around its business. The company sold its Orchard Supply Hardware Stores and its Sears Hometown and Outlet Stores businesses last year. In October, Sears said it would consider strategic alternatives for its line of auto centers. Sears also is selling some store leases in Canada.

Stanley Black & Decker has added Debra Crew, president of PepsiCo Americas Beverages, to its board of directors. Crew joined PepsiCo in 2010 as president of the western region of PepsiCo Europe, and was promoted in 2012.

Prior to PepsiCo, she held a number of management and leadership roles at Mars, Dreyer’s Grand Ice Cream and Kraft Foods.