Corporate Governance

New York -- Sears Canada announced that it has reached a definitive agreement to sell its 50% joint venture interest in eight properties it owns to Montez Income Properties Corp. for approximately $300 million (C$315 million). Sears’ joint venture partner in the properties is The Westcliff Group of Companies.

The company said it will sell its interests in four regional shopping centers, two strip centers and two open-air retail centers.

New York -- Target Corp. has joined the growing ranks of retailers who will open earlier on Thanksgiving this year. The company said it is making the change in response to competitive pressure and demand from shoppers.

Target stores will open on 8 p.m. on the holiday, an hour earlier than last year. Stores will remain open throughout the night and close at 11 p.m. on the day after Thanksgiving, Nov. 29.

Menomonee Falls, Wis. -- Kohl’s on Monday announced an array of Black Friday sales events, kicking off at 8 p.m. on Thanksgiving Day.

Information technology outsourcing (ITO) enables organizations to cut labor and infrastructure costs, improve operating efficiencies and increase flexibility in the IT department. Although certain aspects of retailing are ideally suited to out-of-house automation via ITO, the retail industry as a whole has not embraced ITO as much as some other industries.

Washington, D.C. -- Women account for 18.4% of directors serving on the boards of the world's largest retail and consumer products companies globally, according to the latest Corporate Women Directors International (CWDI) report on Women Board Directors of Top Retail and Consumer Products Companies Globally.

By Brian Smith, BizBrag

Sears Canada announced that it has reached a definitive agreement with Montez Income Properties Corp. to sell its 50% joint venture interest in eight properties it owns with The Westcliff Group of Companies for approximately $315 million.  

Target will open stores at 8 p.m. on Thanksgiving Day, an hour earlier than last year, and will keep them open until 11 p.m. Black Friday.

The company said it is making the change in response to competitive pressure and demand from shoppers.

Kathee Tesija, executive VP of merchandising at Target, told The Associated Press that she felt the 8 p.m. time was just right, based on the competitive landscape, and the sentiment among shoppers and its own store staff.

Ascena Retail Group has appointed Judith Langley as EVP and chief merchandising officer of Dressbarn.

“Judi is an outstanding merchant with deep specialty and large retail format experience. She will play a key role in the evolution of the Dressbarn brand and we are delighted to have her joining the team,” said David Jaffe, president and CEO of Ascena Retail Group.

Procter & Gamble Canada has announced that Emmy-nominated actress Christina Hendricks will host the fifth annual P&G Beauty & Grooming Awards Dec. 2.

Best known for her portrayal of “Joan Holloway” on AMC’s series “Mad Men,” the former model will grace the stage as P&G celebrates the best Canadian editorial and creative talent in beauty, fashion and grooming. Hendricks joins Nia Vardalos, Queen Latifah, Kim Cattrall and Rob Lowe who have served as previous hosts.