Strategy

New York City -- Jill Granoff, chief executive of Kenneth Cole Productions, announced her resignation on Monday, effective immediately. She had company for three years.

In a statement, the company described the decision to find a new CEO as "mutual."

Kenneth Cole, who founded the firm in 1982, will take on Granoff’s duties temporarily as the search for a new CEO begins.

NEW YORK -- The Knot,  a media company devoted to weddings, nesting and babies, announced that it had repurchased all shares in the company owned by Macy’s Inc.

MIDDLEBURY, Conn. -- Timex Group announced that it has named Gary Cohen president and CEO of the company. Cohen will also join the company’s board of directors.

“I feel honored to lead one of the world’s largest and most iconic watch companies,” Cohen said. “I look forward to developing new business opportunities across our extensive portfolio of brands in both developed and emerging markets worldwide.”

Wayne, N.J. -- A New York Post report on Saturday said that Toys “R” Us is considering an initial public offering in April to raise around $800 million, although a final decision has not been reached.

The retailer shelved IPO plans in 2010; it has not commented on the latest report that IPO talks have resurfaced.

Hoffman Estates, Ill. -- Sears Holdings Corp. in a regulatory filing on Friday reported that its newly named CEO Louis J. D'Ambrosio will be compensated $7.2 million and a charter airplane for his commute from Pennsylvania to Illinois, as calculated and reported by the Associated Press.

D’Ambrosio will also be eligible for a bonus of up to $2 million, according to the report.

The solid fourth-quarter financial results Target reported last week were quickly overshadowed by long-term growth objectives that gave stakeholders a clear idea of where the company is headed in terms of sales and profits. Target expects its annual sales, currently about $66 billion, to reach the $100 billion mark within six to seven years, and current earnings per share of $4 will at least double over that same time frame.

San Jose, Calif. -- VeriFone Systems announced it has won a contract to supply its PAYware Merchant card payment and settlement hosted service to Arcos Dorados, the largest restaurant operator in Latin America and the largest McDonald's franchisee in the world.

Beginning with 220 McDonald’s restaurants in Argentina and Uruguay, PAYware Merchant will be integrated with a proprietary POS system to accommodate card payment processing at the point of sale.

Target’s credit card portfolio is looking a whole lot more attractive to potential acquirers following improvements in the delinquency rates, risk profile and strong profit growth.

Fourth-quarter operating profit in the credit card segment increased 287% to $151 million compared with $39 million in the fourth quarter the prior year. For the full year, credit card segment profits advanced 169% to $541 million compared with $201 million the prior year.