Corporate Governance

Sears selling more real estate than products
Sears Holdings will eventually need to sell more stuff to shoppers to remain viable as a retailer, but in the meantime the company has shown itself to be more adept at generating cash through complex real estate deals that unlock the value of an increasingly less productive store base.
Why retailers need to measure customer happiness
When retailers' customers aren’t happy, how do they really know? Many key metrics, such as Net Promoter Score (NPS) and Customer Satisfaction Score (CSAT), are born from accumulated survey results and don’t capture true happiness. Surveys focus on whether a customer is satisfied, which is very different from happieness. These are two very different things. So, the question becomes: Are companies really primed to measure customer happiness, or are they settling for a rationalized alternative created by linguistic gymnastics in a survey?

Cramer’s 18 retail stocks to buy now

CNBC host and investment advisor Jim Cramer breaks down the impact of cheap oil and the labor outlook with a view toward which retailers are best positioned to win.

A recent feature on the Thestreet.com featured 18 of Cramer’s top picks in the retail world, including many familiar names which have already enjoyed a nice run and are trading at or near their 52 week high.
Lowe's outlines 2015 sustainability initiatives

Lowe's outlined its progress in meeting its sustainability objectives in its 2014 Social Responsibility Report.
Target names new head food merchant

Former Safeway and Supervalu executive Anne Dament has been named senior vice president of merchandising at Target to lead what the company is calling the strategic repositioning of its food business.
Joly named chairman at Best Buy

Best Buy President and Chief Executive Officer Hubert Joly has added the title of Chairman to his responsibilities at the retailer after long time board member Hatim Tyabji and several others decided to step down.
Amazon gets new approval from FAA to test drones

New York -- Amazon’s drone testing program has received a new approval from federal regulators.

In March, the Federal Aviation Administration gave the online giant the oaky to fly drones in research for potential deliveries. But the approval came six months after Amazon had filed the request, and, during that time, the model in question had gone out of date. Amazon submitted a new request for an updated model, and the request was approved in less than a month, Reuters reported.
GE takes ax to GE Capital; sells real estate assets for $26.5 billion

New York -- General Electric Company on Friday announced it will sell or spin off the majority of its $500 billion GE Capital finance business over the next two years as it looks to simplify and concentrate on its industrial roots. The company said it will keep its aircraft leasing operation and smaller lending lines.

GE said it has sold its real-estate assets, which include commercial loans and office buildings, for $26.5 billion, with Wells Fargo & Co. and private equity firm Blackstone Group buying the bulk of it.
Petco taps former GNC, Abercrombie exec as CFO; also names digital head

San Diego -- Petco announced it has named Michael M. Nuzzo as executive VP and CFO. Before joining Petco, Nuzzo served as chief administrative officer of the baby gear brand, 4moms. Previously, he served as CFO and executive VP at GNC Holdings, and in various leadership roles at Abercrombie & Fitch.
Saks’ Off 5th to open in Beverly Hills

New York -- Saks Fifth Avenue Off 5th will open its first store in Los Angeles County, in the Beverly Connection shopping center in Beverly Hills California.

The new two-level, 27,000-sq.ft. store will be fashioned in an open, modular layout.

“Saks Fifth Avenue Off 5th’s move to Beverly Hills is an exciting venture for us,” stated Jonathan Greller, president of outlets, HBC (Saks’ parent company).
Sprint RadioShack launches in 1,435 stores

Overland Park, Kan. -- A new chapter in the ongoing saga of RadioShack started on Friday with Sprint launching retail operations in 1,435 RadioShack stores.
EBay, PayPal seek to maintain synergy, independence

San Jose, Calif. – EBay and PayPal are clarifying how they will operate the first five years after their planed split into two public companies in the second half of 2015. PayPal Holdings filed an updated Form 10 with the Securities and Exchange Commission (SEC) laying out an operating agreement that maintains ties between the two companies while also ensuring they remain independent.