C-SUITE

As Sears Holdings Corp. continues to struggle to turn its business around, the chain announced it is exploring ways to expand distribution of its key brands outside its own stores. The troubled retailer also announced its CFO is leaving.

Sears lost $471 million in its first quarter, ended April 30, compared with $303 million in the year-ago period. Loss per share came to $4.41, or $1.86 adjusted for certain items. Analysts estimated a loss of $3.20 per share.

The National Retail Federation (NRF) has named Gary Cammack, owner of Cammack Ranch Supply in Union Center, South Dakota, as the 2016 America’s Retail Champion of the Year.

The award was presented Tuesday, May 24, at NRF’s annual Retail Advocates Summit as small retailers from across the country were honored for their advocacy on behalf of the industry while in Washington, D.C., to meet with members of Congress on a variety of public policy issues.

Chico’s FAS is nominating two new independent board members as two current members prepare to retire and an investor says it will nominate its own two candidates.
 

Members of the International Council of Shopping Centers (ICSC) elected Elizabeth Holland as chairman, marking only the fourth time in the past 59 years a woman has chaired the organization.

Holland brings a unique skill set to the role given ICSC’s top legislative priority and the upcoming presidential election. The period following the inauguration of a new president is always a critical time in Washington, heralding what is traditionally the most active time in the legislative cycle, according to ICSC.

Best Buy Co. Inc. surpassed Wall Street expectations with rising profits and declining revenues for the first quarter of fiscal 2017, and CFO/CAO Sharon McCollam announced she will retire June 14.
 

ModCloth, a San Francisco-based e-commerce retailer focused on vintage and independent apparel styles, has named Nicholas Genest as CTO.
 
Genest joins ModCloth with more than 15 years' experience across consumer, tech and online retail industries. He most recently served as the CTO for the online luxury consignment retailer The RealReal, where he strategically led the development of their mobile, web and data technologies since 2013.

The National Retail Federation (NRF) is saying thanks to representatives in Congress who back retailers on important issues.

L Brands subsidiary Victoria’s Secret has named a veteran of the specialty and intimate apparel verticals as its new CEO.

Jan Singer, who served as CEO of Spanx from June 2014 – March 2016, is now CEO of Victoria’s Secret. Previously, she held corporate VP positions at Nike from February 2004 – June 2014.