Department Store

Hoffman Estates, Ill. -- Multiple reports on Thursday said that Sears Holdings Corp. is considering a sale of its Lands’ End mail-order catalog business, as part of its move to raise up to $2 billion.

The New York Post reported that Sears is in talks with several private-equity firms about the potential sale.

Sears chief Eddie Lampert is said to be likely to hire Goldman Sachs to find a buyer for Lands’ End.
 

Plano, Texas -- Former Apple executive Ron Johnson, who became CEO of J.C. Penney in November, received $53.3 million in total compensation from the department store retailer last year.

Johnson received a base salary of $375,000 and $52.7 million in stock awards, according to a regulatory filing. His performance-based bonus was $236,000, which the company said was pro-rated based on his period of service during the fiscal year. He also received compensation valued at $13,000 for personal use of the company's aircraft.

Stockholm, Sweden -- Swedish fashion retailer Hennes & Mauritz AB confirmed Thursday that it will open a new chain in 2013 that will build on the 2007 launch of its upscale Collection of Style (COS). No name for the new concept has been revealed yet.

New York -- Fashion retailer Cache reported Thursday that net income for the fourth quarter ended Dec. 31 was $1.9 million, compared with a loss of $14.2 million the year-ago period.

Sales surged 12.5% to $62.9 million, from $55.9 million in the fourth quarter of fiscal 2010. Same-store sales increased 12.4%.

Year to date the company has closed 12 underperforming stores and said it expects to close five more stores and open two in fiscal 2012.

HOUSTON — Stage Stores announced Michael Glazer has been appointed to the position of president and CEO on an interim basis. Glazer replaces the company’s former president and CEO, Andy Hall, who the company announced has resigned from both the company and its board of directors to pursue other interests.

Chestnut Hill, Mass. -- A 120,000-sq.-ft. former Macy’s building was demolished on Wednesday, as developer WS Development prepares the site for a second redevelopment phase of its Chestnut Hill (Mass.) Shopping Center.

The region’s oldest suburban mall will become home to a new generation of retailers, services and entertainment offerings, including a new 31,000-sq.-ft. Sports Club/LA health and fitness complex and a National Amusements’ theatre and restaurant facility.

The United States isn’t the only country where workers’ rights are called into question by pro labor groups. North of the border, Target, which is expanding there for the first time, is facing criticism for its "anti-worker" policies from unions in both the United States and Canada. 

Phoenix -- Indianapolis-based Simon Property Group said Wednesday that its Premium Outlets division has launched construction of Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas.

Phoenix Premium Outlets will be located in Chandler, Ariz. Phase I of the project will be comprised of 360,000 sq. ft. housing approximately 90 outlet stores featuring high-quality designer and name brands. A spring 2013 opening is planned.