Transform SR Brands LLC

New York -- Eddie Lampert, chairman of Sears Holding Corp., has signed a contract to remain as CEO of the retail company at a salary of $1 per year, the Associated Press reported. Sears announced in January that Lampert would take over as CEO after Louis J. D'Ambrosio stepped down due to family health issues.
    
Lampert’s new contract is effective Feb. 1, according to a regulatory filing yesterday. Lampert also has the opportunity for a bonus of up to $2 million in cash or stock and up to $4.5 million in stock per year.

HOFFMAN ESTATES, Ill. — The U.S. Environmental Protection Agency has recognized Sears Holdings with a 2013 Energy Star Partner of the Year - Sustained Excellence Award for its continued leadership in protecting the environment through superior energy efficiency. This year, Sears Holdings is being awarded for both its role as a retailer of Energy Star certified products and for energy management in its stores. Sears Holdings' accomplishments will be recognized at an awards ceremony in Washington, D.C., on March 26.

Is it just me, or does it seem like the past two months or so have seen an unusually high level of turnover at the top? It's gotten so that you need a scorecard to keep up with all the comings and goings, as chief executives are forced out, jump ship, retire or move on.

This year's changing of the guard is bittersweet because it includes the retirement of two veteran retailers, Steve Burd of Safeway and Maxine Clark of Build-A-Bear Workshop.

February 2013 marked a declining trend in number of inserts per market for the some retailers, but due to big increases at Macy’s (+48%) and Staples (+100%), the overall count of inserts per market across all retailers was actually up 4.3%. Home Depot (-50.0%) was the only retailer witnessing a major fall, whereas the other retailers showed only minor declines. Of the remaining retailers that did not see a decrease, five had no change in the number of inserts per market, while three (including Macy’s and Staples) increased.

Virginia Beach, Va. -- Divaris Real Estate announced Wednesday that six new stores totaling 57,434 sq. ft. will open at the company’s Pembroke Mall property, located in Virginia Beach, Va.

Following a year of rapid expansion, specialty apparel retailer Body Central said it will pare new store growth to 25 units in 2013 from 39 openings last year.

Body Central opened 13 stores during the fourth quarter to end the year with 276 units operating under the Body Central and Body Shop banners which, according to the company, target women in their late teens and twenties from diverse cultural backgrounds who seek the latest fashions and a flattering fit.

Fourth quarter operating profits at Sear’s Holdings on an adjusted basis improved. 22% and same store sales at Sears flagship stores turned modestly positive.

Hoffman Estates, Ill. -- Sears Holding Corp. reported a higher-than-expected quarterly profit for the fourth quarter before special items, boosted by lower costs.

The company said its net loss for the quarter ended on Feb. 2 narrowed to $489 million from $2.4 billion a year earlier. Total costs dropped 2.2% to $12.88 billion in the fourth quarter.

Sales declined about 1.8% to $12.26 billion, but beat analysts' average estimate of $11.77 billion.