Retail

New York -- Sears Holdings Corp. said in regulatory filing that it would borrow $400 million from the hedge fund of its CEO, Edward Lampert, who is also the company’s largest shareholder.  

Sears received the first $200 million of the loan from Lampert's ESL Investments on Monday, and expects to receive the remaining amount on Sept. 30.

The company said it would use the money for “general corporate purposes.

New York – Department stores are increasingly using an omnichannel approach to meet the needs of consumers. According to the Digital IQ Index from digital intelligence provider L2, half of department stores offer shoppers a “click and collect” option, 68% allow in-store returns of online purchases, and 25% provide real-time store inventory.

Other notable findings include:

• Seventy-seven percent of department store brands offer a mobile app;

The Men's Wearhouse board of directors has promoted Mary Beth Blake to the position of president and chief merchandising officer. She was previously EVP and chief merchandising officer, and will continue reporting to CEO Doug Ewert.

"Mary Beth has been an integral part of our management team since 2008 and has spent her entire career developing creative initiatives to drive sales, expand gross margins and build successful teams," said Ewert.

Milford, Conn. -- Subway announced that it will launch NFC-based mobile payments nationwide on Oct. 1 with Softcard, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA, Inc. and Verizon Wireless. It is one of the largest deployments of mobile payment capability in the country, Subway said.

By Graeme Grant, president & COO, CQuotient

Technology and the proliferation of communications channels have significantly altered the way brands and retailers approach customer engagement. What was a “nice-to-have” strategy of coordinating messages across shopping channels only three years ago is now a “sink-or-swim” requirement for merchants. Consumers engage across every touch-point and demand that retailers have an omnichannel communication approach to complement their always-connected behaviors.

Just as retailers like Walmart and Target unveil their top toy lists ahead of the holiday shopping season, Toys“R”Us has revealed its 2014 Holiday Hot Toy List. The annual list of 36 items is determined by Toys“R”Us play experts and packed with a wide range of brand new toys and games.

Columbus, Ohio -- Washington Prime Group announced Tuesday it will acquire shopping center REIT Glimcher Realty Trust in a deal worth $4.3 billion.

Washington Prime Group, a Bethesda, Maryland-based REIT, and Glimcher will combine under a new name WP Glimcher, with headquarters remaining in the current Glimcher offices in Columbus, Ohio.

The newly combined company will remain publicly traded.

Northbrook, lll. -- StreetMac LLC and an affiliate of Five Mile Capital Partners LLC announced redevelopment plans for the 1.3 million-sq.-ft. Stratford Square Mall, located in Bloomingdale, Illinois. The center’s anchor tenants include Macy’s, Carson Pirie Scott, Sears, Kohl’s, Burlington Coat Factory and the 16- screen Century Theatre movie complex.