Corporate Governance

Recent executive leadership changes at Spanx have set the stage for change and a new phase of growth.

The company has promoted Jill MacRae to EVP, global commerce. MacRae began her career at Spanx in sales, and most recently lead all aspects of product and consumer marketing development as the VP of marketing.

Appliance, electronics and furniture retailer Hhgregg is looking to drive traffic to its stores via a partnership with the Chicago Bears that will award seven fans with a VIP game-day experience.

In addition, as a partner of the team, the inaugural Chicago Bears’ street team will be named the Chicago Bears Monster Squad powered by Hhgregg.

New York – Chinese e-commerce giant Alibaba Group Holding Ltd. on Friday closed its first day of trading on the New York Stock Exchange with its shares up 38% from its I.P.O., closing at $93.89.

The stock opened for trade on Friday at $92.70 shortly, a 36% jump above its initial public offering price of $68 a share. More than 100 million shares changed hands in composite trading in the first 10 minutes of trading.

New York -- Brown Shoe Company’s Sam Edelman brand has opened a 3,500-sq.-ft. store in Beverly Hills, California.

The space has a sexy, stylish and whimsical vibe that’s meant to reflect the essence of the brand. The design, by Dagnell Folger of Architecture + Information, embraces the juxtaposition between raw and refined, mixing materials such as reclaimed wood and raw concrete with rose colored brass and black leather.

With the recent unveiling of a new corporate name and a network of retail pharmacies that are now officially tobacco-free, CVS Health continues to forge ahead on its mission to help shape the future of health care. To further communicate its purpose to both consumers and press and to discuss how the company’s unique, integrated model is making a difference in healthcare, Larry Merlo, president and CEO of CVS Health, spoke on Friday before the National Press Club in Washington, D.C.

Hoffman Estates, Ill. – A $400 million loan Eddie Lampert, the CEO and largest shareholder of Sears Holdings Corp., is making to Sears this month reportedly is only enough to last the struggling retailer for three months. According to Bloomberg, global ratings agency Fitch Ratings is projecting that Sears will need $4 billion in capital to avoid running out of cash altogether in 2016.

Boise, Idaho - Albertsons and Safeway Inc. announced the new senior leadership team and division leaders  for the combined company that will take effect upon the closing of their proposed merger. The deal is expected to close in a few months.

Safeway president and CEO Robert Edwards will serve as CEO of the combined company and current Albertsons CEO Bob Miller will become executive chairman.

Seattle -- Nordstrom on Friday opened its first store in Canada, at Chinook Centre in Calgary, Alberta. The two-level, 140,000-sq.-ft. store is also the department store retailer’s first location outside the United States.
 
"Being in business for 113 years, this is really a historic time for us as we open our first store in Canada - our first international store," said Sheila Wooldridge, Nordstrom Chinook Centre store manager.

St. Louis -- Brown Shoe Company has invested $9 million in Jack Erwin, an online men’s shoe brand that launched last year. It’s Brown’s first investment in a startup.

Founded by Ariel Nelson and Lane Gerson, Jack Erwin creates high-quality men’s shoes, selling them directly to consumers for under $200 a pair.