Sears, Roebuck & Co.

Lands' End will be back on its own as a publicly traded company following a formal announcement by parent company Sears Holdings to spin off the well-known apparel brand.

The move follows years of speculation that Sears would divest the brand, which it acquired in May 2002 for $62 a share. At the time, Lands' End was a publicly traded company with revenues of nearly $1.6 billion, profits of $67 million and earnings per share of $2.23. The $62 a share Sears paid 12 years ago represented a 21.5% premium over the closing pricing of $51.02 prior to the announcement of the deal.

Tractor Supply Company has named former Ulta Beauty executive Robert D. Mills as SVP and chief information officer, succeeding James Callison. Mills will also serve on the company’s executive committee.

Callison, who informed the company last year about his plans to retire, will remain on-board for an undisclosed amount of time while the transition is completed.

Sears Holdings late Friday issued a statement confirming that the company is investigating whether it was the victim of a security breach.

"There have been rumors and reports throughout the retail industry of security incidents at various retailers and we are actively reviewing our systems to determine if we have been a victim of a breach," read the statement. "We have found no information based on our review of our systems to date indicating a breach."

As far as sales go, Sears Holdings didn’t have a very happy holiday. But the company was still able to narrow its loss for the fourth quarter, as it lowered expenses and reduced inventory.

The company said the costs of transforming into a member-centric retailer using an integrated online platform and the omnichannel Shop Your Way membership program fueled its net losses. It attributed declining revenues to lower same-store sales and having fewer stores in operation.

Sears has launched a new service powered by the chain’s Shop Your Way mobile app that enables customers to pick up their online purchases at any Sears store within five minutes of arrival.

Mark Panzer, president and CEO Pharmaca Integrative Pharmacy, will be leaving the company to pursue an opportunity at Sears Holding.

Panzer will be in charge of pharmacy operations at Sears Holding and will direct the health and wellness initiatives across K-Mart pharmacy as SVP and president pharmacy.

Dave Maher, a longtime Pharmaca board member and fellow chain drug veteran, will be serving as interim CEO as Pharmaca searches for a new candidate. Maher's experience includes time as president of American Stores Company and CEO Osco Drug.  

Sears Holdings has named Norman Miller as SVP and president, automotive. Miller most recently served as president and COO of Dollar Financial Corp. In his new role with Sears Holdings, he will be responsible for the company's automotive business, including Sears Auto Centers.

Dollar General chairman and CEO Rick Dreiling was elected chairman of the Retail Industry Leaders Association (RILA) to fill a position held the past two years by Target chairman, president and CEO Gregg Steinhafel.

Dreiling’s appointment was announced at RILA’s semi-annual board of directors meeting held Sunday in Naples, Fla. Steinhafel will continue to serve as a member of organization’s executive committee.