Department Store

SEATTLE — Nordstrom plans to open another new Rack store this spring in Maine as the number of off price locations now exceeds the company’s full price stores.

The approximately 30,000-sq.-ft. store at Maine Crossing Shopping Center will be its first location in the state, and is scheduled to open this spring.

Michael Francis is among 10 top executives Advertising Age has singled out on a list of movers and shakers for 2013.

New York -- Two directors of Best Buy Co.  have resigned from the board of the retailer, the company disclosed in a regulatory filing Monday, the Wall Street Journal reported.

G. "Mike" Mikan, who served as Best Buy's interim CEO in the wake of CEO Brian Dunn’s resignation last April, has left the board to become president of ESL Investments Inc., the hedge fund run by Sears’ Edward Lampert. Mikan, whose appointment is effective Jan. 1, will report to Lampert, the firm said today in a statement.

WATSONVILLE, Calif. — EVP and president of Nordstrom Direct Jamie Nordstrom has joined West Marine's board of directors. Nordstrom also was appointed as the fourth member of West Marine's governance and compensation committee.

His board and committee service is expected to begin on the first meeting scheduled in 2013, most likely in March, and Nordstrom, like all the other directors, will stand for re-election to the board at West Marine's 2013 annual meeting of stockholders.

NEW YORK — ESL Investments has appointed G. Mike Mikan as its new president. Mikan will report to Edward S. Lampert, founder, chairman and CEO of ESL Investments.

Mikan held various executive positions throughout a 14-year period at UnitedHealth Group, including serving as EVP and CFO, as well as CEO of its Optum subsidiary. Mikan has served on the board of directors of Best Buy Co. since 2008. He was appointed Best Buy’s interim chief executive in April 2012, and served until September 2012.

Seattle -- Nordstrom announced plans to open a Nordstrom Rack in South Portland, Maine.

The approximately 30,000-sq.-ft. store is scheduled to open this spring at Maine Crossing Shopping Center and will be the retailer's first location in the state. It will occupy the former Old Navy space. 

New York City -- Holiday-related sales rose 0.7% from October 28 through December 24, compared with a 2% rise last year, according to a preliminary report from MasterCard Advisors Spending Pulse.

"It has been a very uneven industry performance, probably at least for the last year, and that certainly continued into the holiday season," said Michael Niemira, chief economist at the International Council of Shopping Centers, in a Reuters report.

London -- A report released Thursday by the International Council of Shopping Centers and Path Intelligence showed that U.K. consumers stepped up their pace of holiday shopping over the week ended Dec. 23.

The Path Index—which melds shopping-center footfall and the time spent per visitor into a shopper-hours index—rose by 7.9% from the prior week to its highest reading of 2012 at 151.3 (January 8, 2012 = 100) for the period ending Sunday, Dec. 23.