Sears, Roebuck & Co.

Hoffman Estates, Ill. -- According to a report by Bloomberg, CIT Group has decided to stop financing loans to suppliers waiting to be paid by Sears.

CIT Group has not commented on the matter.

Sears Holdings Corp. told Bloomberg that it disagrees with CIT's decision but said it won't have a big impact on its operations. It said that CIT's payables represented less than 5% of its inventories, and noted that other lenders are still financing the loans.
 

Hoffman Estates, Ill. -- Sears Holdings Corp. confirmed Thursday that John Goodman, its chief of apparel and home division, has resigned the company, effective immediately.

Goodman was hired two years ago as executive VP of apparel and home, charged with turning around the retailer’s clothing business. His departure, which Sears says happened last week, coincides with the Jan. 3 arrival of Ron Boire, the former Brookstone president and CEO, as executive VP and chief merchandising officer for Sears and Kmart brands.

HOFFMAN ESTATES, Ill. — Sears announced that it has completed a number of initiatives designed to reinforce itself as a fitness leader. 

HOFFMAN ESTATES, Ill. — Sears Holdings last week announced that it will close between 100 and 120 underperforming Sears and Kmart stores, following dismal holiday sales results for the brands.

The company said it has not yet identified which stores will be shuttered, but said that the closures are part of an overall plan to shift its focus from shoring up underperformers to concentrating its efforts on stronger stores.

HOFFMAN ESTATES, Ill. — Sears Holdings hired Ron Boire as EVP and chief merchandising officer. Boire, who previously was president and CEO of Brookstone, will lead merchandising and retail stores for both the Sears and Kmart brands.  

He will work with our leadership team to better serve our customers and Shop Your Way Rewards Members by integrating their experiences across our stores, online, services, and mobile capabilities, the company said.

Merrimack, N.H. -- Brookstone announced that Jackson Tai, chairman of the board, will also serve as interim president  in the wake of the resignation of Ron Boire, the chain’s president and CEO. The company will undertake a search for a permanent successor for Boire, who resigned from Brookstone, effective Jan. 3, to join Sears Holdings Corp. as its new executive VP, chief merchandising officer and president, Sears and Kmart Formats.

New York City -- Sears has given store associates more than 5,000 Apple iPads and 11,000 iPod touches to track inventory and customer orders, Lou D’Ambrosio, CEO, Sears Holdings Corp., said in a Bloomberg report.

In the article, D’Ambrosio also took on critics who have complained that Sears has not invested enough in its stores. The chain is spending less than a quarter of the $8 a square foot that retailers typically invest to maintain stores, according to International Strategy & Investment Group, according to the report.

New York City -- Sears Holdings Corp. hired Ron Boire, the former president and chief executive of Brookstone Inc. to lead its merchandising and retail stores for both the Sears and Kmart brands. Prior to Brookstone, Boire served as president, U.S. Toys, North America for Toys “R” Us from 2006 to 2009, where he was in charge of merchandising, marketing and operations

"We are in the midst of a transformation of our business, from top to bottom...," Sears CEO Lou D'Ambrosio said in a statement on Tuesday.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. announced that its spin-off from Sears Holdings Corporation was completed at 11:59 p.m. EST on December 30, 2011. Trading of Orchard’s Class A Common Stock will begin Tuesday on the Nasdaq Capital Market under the symbol “OSH”.

New York City -- Sears Holdings Corp. has identified 79 of the 100 to 120 Sears and Kmart stores it said last week it would close, with the preliminary list split almost evenly between the two chains.

Florida will be hit the hardest, with 11 stores to be shuttered, the Associated Press reported. Ohio, Michigan and Georgia are not far behind with six store closures planned in their states. Tennessee, North Carolina and Minnesota are set to lose four stores each.