Transform SR Brands LLC

Toronto - Sears Canada Inc. has closed a transaction to sell and leaseback three properties to Concord Pacific Group of Companies. The transaction, originally announced on March 11, 2015, has closed for total proceeds of $140 million.

Oak Brook, Ill. -- Retail Properties of America Inc. announced that Macy’s new off-price format, Macy’s Backstage, has signed a 35,200-sq.-ft. lease at Fordham Place in the Bronx, New York, as RPAI continues to execute on its remerchandising strategy of upgrading its tenancy and enhancing the dominance of its shopping centers.

The retail industry is accustomed to weak same store sales at Sears and Kmart, but the magnitude of the decline the company experienced in the first quarter was large even by its standards.

Hoffman Estates, Ill. – A reduction in selling, general and administrative expenses helped Sears Holdings Corp. reduce its first quarter net loss even as its sales continued to slide. The results came in as the chain prepares for the launch of its real-estate investment trust this week to raise cash. Sears said it expects the REIT transaction to raise $2.6 billion.

CHATTANOOGA, Tenn. -- CBL & Associates Properties announced the opening of the redevelopment at CoolSprings Galleria in Nashville (Franklin), Tenn. Designed to significantly enhance the offerings at the shopping center, the redevelopment of the former Sears location includes adding a mix of new fashion stores and fine dining options as well as a new mall entrance to improve mall circulation.

City of Commerce, Calif. - 99 Cents Only Stores has named Andrew Giancamilli, chairman of the company’s board of directors, as interim president and CEO, replacing Stéphane Gonthier, who has resigned.

The chairman of the board at 99 Cents Only Stores has assumed the role of CEO and president effective immediately.

Andrew Giancamilli will become the new interim president and CEO, replacing Stéphane Gonthier.

Waban, Mass. - Chick-fil-A took the second spot in the annual Temkin Customer Service Ratings, tops among all retailers and food service chains. Other retailers and food service companies in the top 12 include Aldi, Trader Joe's, Publix, Panera Bread, H-E-B, Amazon.com, and Bed Bath & Beyond.

Supermarkets, retailers, and banks, as an industry, earned average ratings of "strong.” Retailers RadioShack and Sears were ranked at least 15 points below retail industry average.