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W. Bruce Johnson was appointed in 2008. (Sears handout)
Sears Holdings Corp. interim Chief Executive W. Bruce Johnson saw his compensation package rise 250 percent to $5.3 million last year, according to a proxy the Hoffman Estates-based company filed with the Securities and Exchange Commission.
Johnson, who held the spot until February, received a base salary of $980,000, up 15 percent from the prior year. His stock awards were $4.3 million, up from $663,000. Get the full story »
Sears, Roebuck and Co. announced plans Monday to sell cosmetic brands normally found at the corner drugstore in 100 of its stores and on its web site. Get the full story »
Wal-Mart plans to bring back some of the products it has dropped. (Reuters)
Wal-Mart Stores Inc. will launch a promotional campaign next month called “It’s Back,” to tell core customers the discounter is restoring merchandise it removed from store shelves in a flubbed renovation effort.
Starting in May, Wal-Mart shoppers in the U.S. will see signs in stores heralding the return of fishing tackle, bolts of fabric and other “heritage” merchandise that Wal-Mart reduced or cut out altogether as it attempted to spruce up its stores to appeal to more well-heeled shoppers. Get the full story »
Sears Holdings Corp. said Friday that it increased the borrowing amount on its domestic revolving credit facility to $3.275 billion from $2.441 billion. Get the full story »
A Rockton, Ill., Internet retailer is moving its headquarters across the border to downtown Beloit, Wis., Friday to escape Illinois’ recently enacted Internet sales tax. Get the full story »
From Crain’s Chicago Business | Hoffman Estates-based Sears Holdings Corp. is closing a St. Charles store and laying off workers, making the retailer one of six Illinois companies planning a total of 505 job cuts in coming months. Meanwhile, J.C. Penney Co. said it will close its store at Springhill Mall in West Dundee in June, leaving 139 employees without jobs.
A nurse practitioner checks a patient at the Minute Clinic on N. Southport in Chicago. (Nuccio DiNuzzo /Chicago Tribune)
Advocate Health Care, the state’s largest provider of medical care, has signed with CVS Caremark Corp. to provide medical directors and related clinical expertise to the pharmacy giant’s nearly two dozen retail clinics in Illinois.
The agreement calls for CVS’ 23 MinuteClinic brand clinics in the Chicago area and Bloomington, and Advocate, which operates 10 hospitals in Illinois, to work together on a variety of protocols in a more robust relationship between the traditional provider of inpatient and outpatient medical care and a retail clinic. Financial terms were not disclosed. Get the full story »
American Apparel denied a report by a private equity and deals news website that the clothing chain was looking for a buyer. Get the full story »
From The Chicago Sun-Times | A federal appeals court has ruled that retail giant Wal-Mart was within its rights to fire a Joliet store employee who told a lesbian co-worker that she would go to hell because God does not accept gays, and that the dismissal was not religious discrimination.
Teen clothing giant American Eagle Outfitters Inc. is suing a South Side Chicago furniture company for trademark infringement. Get the full story »
Walgreen Co. said today its March sales rose 7.6 percent in March, helped in part by its acquisition last year of New York pharmacy chain Duane Reade. Get the full story »
Most major automakers raced past expectations for U.S. sales in March as buyers flocked to smaller, more fuel-efficient cars in response to rising gasoline prices at the pump. Get the full story »
Von Maur Inc. plans to expand Dry Goods, its fledgling fast-fashion format, with a store at Woodfield Mall in Schaumburg this summer.
The family-run department store from Davenport, Iowa, opened its first Dry Goods store last fall at Fox Valley Mall in Aurora. Get the full story »
Los Angeles-based retailer American Apparel Inc. warned that it could seek Chapter 11 bankruptcy protection, or even be forced to liquidate under Chapter 7, as its financial woes deepen. Get the full story »
