Corporate Governance

HOFFMAN ESTATES, Ill.— Sears quietly added all nine of its Great Indoors stores to the list of store closings on Feb. 23.

Store managers were informed last week, a Sears spokeswoman confirmed, but no exact date has been given for the closings.

The upscale remodeling and home décor stores began opening in 1998, long before the Sears and Kmart merger. At one point, Sears operated 20 of the units, but they were never a big moneymaker for the company.

NEW YORK — After more than a year since it first filed Chapter 11, A&P has won approval to exit bankruptcy. The company announced that the U.S. Bankruptcy Court in White Plains, N.Y., has approved its reorganization plan, which includes $490 million in debt and equity financing from Ron Burkle's Yucaipa Cos. 

FAIRFIELD, N.J. — Consumers trust retailers will provide them with safe, effective products — no easy task when one considers the numerous items any given company can sell. This is especially true for such retailers as Wal-Mart Stores, which has approved a partnership with SGS for safety and compliance testing for all wireless and automotive products sold through Walmart and Sam's Club, both in store and online, for the U.S. market.

CARLSBAD, Calif. — Callaway Golf Company has appointed Chip Brewer as president and CEO, effective March 5. Tony Thornley, who has served as interim president and CEO since June 2011, will resign from his interim positions on March 5, but will continue to serve on the Board of Directors. It is expected that Brewer will be appointed to the board of directors once he officially joins the company.    

Shelly Ibach, a former merchant at Target back when the company had a department store division, will replace Bill McLaughlin as president and CEO at Minneapolis-based mattress manufacturer and retailer Select Comfort.

Target will forever be associated with the weirdest Daytona 500 ever after the car it sponsors was mysteriously involved in a single car accident that caused a huge on-track fire and a two-hour delay that caused the already rained-delayed race to finish after midnight on Monday.

Target for the first time this year was named to the annual listing of America’s Top Corporations for Women’s Business Enterprises compiled by the organization Women’s Business Enterprise National Council (WBENC).

New York City -- Consumer confidence in February shot up from last month to the highest level since a year ago, according to The Conference Board. The group’s Consumer Confidence Index now stands at 70.8, up from a revised 61.5 in January, buoyed by consumers' more positive assessment of the job market.

Brentwood, Tenn. -- Tractor Supply Co. has increased its estimated domestic store growth potential to 2,100 locations from a previously estimated 1,800 stores.

Salisbury, N.C. -- Bottom Dollar Food announced plans to open eight additional stores in New Jersey. The expansion will more than double the number of Bottom Dollar Food stores in the Garden State, with the first two stores opening March 2.

"We have been pleased with customer reaction to our current five stores in New Jersey and we are very excited to continue serving customers at our additional locations in the market," said Bottom Dollar Food president Meg Ham.