Corporate Governance

New York – During World War II, Gen. Douglas MacArthur famously said, “I shall return.” Two board members of Aeropostale Inc. are taking the opposite approach.

Robert B. Chavez has advised Aeropostale that he will not seek re-election to its board of directors in 2015 due to his responsibilities and time commitments as president and CEO of Hermes of Paris Inc. Chavez will continue to serve until the 2015 annual meeting.

The Top 100 is Retailing Today’s look at the best retailers in America. We comb through annual reports and regulatory filings to arrive at our annual ranking of the best retailers in America based on annual sales, number of stores, e-commerce capabilities, profitability and operational efficiency. In addition to the annual rankings based on financial and operational metrics, The Top 100 also features: 

Target and Sports Authority are getting into the folding bike business, one of the fastest-growing segments in the $6 billion U.S. bike market.

The retail giants are adding Durban Bikes to their sporting goods assortment. “The demand for folding bikes is growing rapidly, and we’ve received immediate and enthusiastic interest in our product lineup,” said David White, managing director of Durban Bikes.

With the NHL Stanley Cup playoffs underway, what better way for Sears Canada to spark interest in its product assortment than the addition of a brand inspired by a player who on-ice exploits earned him the best nickname ever.

Beginning this fall, Sears Canada said it will introduce “#99 The Wayne Gretzy Collection” of casual menswear. Gretzy, for those who don’t know is a hockey legend and the all-time leading scorer by a wide margin.

As retailers feel the pressure to raise wages for employees, GameStop is focusing on education by giving staffers an incentive to enter the classroom.

GameStop is launching a new scholarship for its employees that would allow them or their children to go to college. The program is called “Power to the Scholars,” a reference to the “Power to the Players” slogan the company has popularized over the years.

The old expression, “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime,” was taken to heart at Whole Foods where a recent fundraising campaign will provide loans to help people improve their lot in life.

Whole Food held concerts and craft fairs and thousands of small events that raised $4.6 million with the goal of alleviating global poverty. To achieve such a lofty mission, the retailer isn’t donating money to food banks to provide hand outs, but rather using the dollars to fund a microlending campaign.

New York -- A major new credit agreement has been secured by the 262 store Hancock Fabric chain with Wells Fargo Capital and the newly formed Great American Capital Partners subsidiary of B. Riley Financial.

The new financing deal, executed a year and a half before an existing credit facility was due to expire, provides the struggling Hancock Fabric chain with a new five year, $100 million asset-backed credit facility from Wells Fargo and a $17.5 million term loan from Great American.

Chicago -- Sears Holdings Corp. has tapped former Rouse Properties COO Benjamin Schall to lead new Sears REIT Seritage Growth Properties. The real estate investment trust was formed by Sears to buy some of its stores and generate $2.5 billion in cash.

Schall’s appointment is effective May 4. He spent three years as COO of publicly traded REIT Rouse, overseeing operations of 35 malls in 21 states.  

Columbus, Ohio -- Footwear big-box retailer DSW will open stores in Michigan, California, and Washington State this month.

A 20,000-sq.-ft. store will open April 30 at Pirate’s Plaza in Flint, Michigan, representing the 10th DSW store in the Detroit market.

In Bakersfield, California, DSW will open an 18,000-sq.-ft. store at Shops at River Walk, also on April 30. The Shops at River Walk store marks the company’s first in Bakersfield.

New York -- Following its January 2015 spinoff from private-equity firm Sycamore Partners, Jones New York has been acquired by Authentic Brands Group, LLC, owner of a global portfolio of fashion, sports, media and entertainment brands.

Sycamore previously announced it would close all Jones New York retail locations and seek strategic alternatives for the beleaguered brand.