Strategy

New York -- Sears Canada is letting go of 700 workers as part of a plan to "right-size" the operation.

The lay-offs will include 360 department store associates and about 300 distribution center workers, as well as some head office personnel.

Sears Canada, majority-owned by Sears Holdings Corp., has falling sales. It is also facing major competition by Wal-Mart Stores and Target, which is set to make its Canadian debut this spring.

St. Louis -- Retail veteran Maxine Clark announced she is stepping down as CEO of Build-A-Bear Workshop, the chain she founded in 1997. Clark, 63, said she will remain as CEO until a successor is found. She will also remain on the company's board of directors.
 

On Thursday the unthinkable happened, customers who wanted to do a bit of shopping on Amazon.com were met with an error message as the e-commerce site was down for nearly an hour. 

NEW YORK — Shopping online for high fashion at low prices is a popular activity for fashionistas, and now one of the more iconic brands has jumped on the trend. Style seekers who can't make it to New York City to shop Barneys New York's famous warehouse sale will soon have a new way to get their fashion fix.

TORONTO — The Home Depot Canada has joined other Canadian retailers in complying with the government's planned phase out of the penny.

However, the retailer noted that many Canadians were unaware of the phase-out, and wanted to ensure its customers that it is doing its best to inform them of the change. As of Feb. 4, the penny will no longer be in circulation. 

LOS ANGELES — A new line of nutrition bars for dogs is on its way to Walmart.

Though the manufacturer, The All American Pet Co., did not mention the retailer by name, it did say that its three SKUs of NutraBars were on their way to "the world's largest retailer" for its first purchase order.

"We can get the retailer, but we can't write the retailer's purchase order," AAPT CEO Barry Schwartz said. "We created the bar and have the capabilities to meet the demand."

Matthews, N.C. -- Harris Teeter Supermarkets Inc. reported that its fiscal first-quarter net income rose nearly 67%. The company earned $22.8 million for the quarter that ended Jan. 1, up from $13.7 million in the same quarter last year. The prior year's results included an $18 million cost to settle some pension liabilities and employee benefits in connection with the sale of its industrial thread manufacturing company.
    

Deerfield, Ill. -- Walgreens announced the promotion of Joseph Magnacca from SVP to EVP, effective Feb. 1. Magnacca also retains his title as president of daily living products and solutions.

Magnacca oversees Walgreens merchandising and inventory strategy, private brands, insights and analytics, and the New York-based Duane Reade drugstore chain, which Walgreens acquired in 2010.