Strategy

HOFFMAN ESTATES, Ill. — Sears announced that it has completed a number of initiatives designed to reinforce itself as a fitness leader. 

NEW YORK — While the Liz Claiborne brand will be kept alive thanks to a recent deal with JCPenney, the company behind the name is headed in a new direction. Liz Claiborne Inc. announced it is changing its name to "Fifth & Pacific Companies" to better communicate its strategic focus on growing its three global lifestyle brands (Juicy Couture, Kate Spade and Lucky Brand). The change is expected to be effective on or about May 15, 2012 at which time the company will begin trading as Fifth & Pacific Companies Inc. (NYSE: FNP).

FRAMINGHAM, Mass — TJX announced that it has moved some of its executives to new roles to better position the company for future growth. Michael MacMillan will assume leadership of the company’s European division as SVP TJX Europe, moving from his current post as head of The Marmaxx Group (the company’s largest division comprised of T.J. Maxx and Marshalls). Richard Sherr will return to The Marmaxx Group as Senior EVP, having most recently held the post of president HomeGoods.

ROCHESTER, N.Y. — In what might become an additional indicator as to the power consumers can wield across retail through social media outlets, Wegmans on Wednesday reinstated Alec Baldwin as the company's spokesman.

Wegmans had pulled its Baldwin holiday advertising campaign in response to consumer complaints about Baldwin's behavior on an American Airlines flight Dec. 6, a flight from which he was removed for refusing to turn his cell phone off.

DALLAS — The first CEO of Sam's Club, Ronald Loveless, has been named vice chairman of U.S. Preventive Medicine. Loveless will serve alongside vice chairman Ron Loeppke, who joined the company in 2008 to direct product innovation, research and clinical standards at the company.

Loveless will play a key role in guiding the growth of U.S. Preventive Medicine in the United States, as well as international markets, the company stated.

GREEN BAY, Wis. — Shopko Stores Operating Co. said Wednesday that Shopko and Pamida will merge to create one of the largest U.S. retailers focused on serving smaller and rural communities. The combined entity will have nearly 350 locations in 22 states and plans to accelerate new store growth in the second half of 2012 and beyond.

Financial details of the merger, expected to close in mid-February, were not disclosed. Both companies are owned by affilates of the private equity firm Sun Capital Partners.

New York City -- Macy’s Inc. announced a strategic plan on Wednesday to open new stores in select markets as well as to close a series of underperforming units. As part of the plan, five Macy’s department stores will be shuttered in spring 2012 – in Topeka, Kan.; Laurel, Md.; Parma, Ohio; Antioch, Tenn.; and Texas City, Texas. Five new Macy’s stores will open in 2012 and 2013.

New York City -- Subway Restaurants plans to add 2,500 restaurants in 2012, according to a report on QSRweb.com.

In 2011, Subway opened more than 2,100 locations, including 1,000 new units in the United States and Canada.  A big part of the chain's growth came from nontraditional spaces such as convenience stores, department stores, train stations, museums, hotel lobbies and movie theaters, the report said.
 

New York City -- The owners of the Panda Express fast-food chain, Andrew and Peggy Cherng, have partnered with Procter & Gamble, whose products include Tide laundry detergent, to open a dry cleaning chain, Panda Dry Cleaning, according to the Los Angeles Times.

The new concept made its debut under the Tide Dry Cleaners banner in Henderson, Nev., and as many as 200 franchised locations nationwide are planned for the next five years.

New York City -- A Wednesday report in the Wall Street Journal said that Barnes & Noble Inc. has put its Sterling Publishing business up for sale.

Barnes & Noble acquired Sterling in 2003 for about $115 million.