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Sears Taking Another Loan From CEO Edward Lampert

lampert

Sears Holdings CEO Edward Lampert recently increased his loans to the struggling company, which now total over $1.6 billion from the past two years, according to Business Insider. “Lampert, through his hedge fund ESL Investments, has agreed to give the company a $200 million ... Read More »

Sears to Sell Smart Appliances on Amazon

appliances

Sears announced Thursday that it will begin selling Kenmore appliances on Amazon that feature Amazon’s smart home assistant Alexa, reports the Chicago Tribune. According to the article, Sears will sell Kenmore appliances that can be operated using Alexa’s voice-activation capabilities. ... Read More »

Generation Z Consumers Want Unique, High-Quality Products

Generation Z is steadily entering the economy and retailers need to be prepared. The National Retail Federation (NRF) recently partnered with IBM to learn more about this emerging consumer demographic. The resulting study, Uniquely Generation Z, charts the traits and ... Read More »

Sears Canada Looks to Sell, Lays off Thousands

Sears Canada

In June, Sears Canada filed for bankruptcy protection and announced plans to close 59 locations and cut 2,900 jobs, according to Global News. Now, the company will begin reaching out to potential buyers while it’s under creditor protection, CBC News reports. The company plans to ... Read More »

Exec: Ace Creates ‘Potent Combination’ With Big-Box Hires

Ace Hardware

Ace Hardware’s latest high-level hires came from three of the large public companies that compete with Ace stores—and that’s an advantage, according to the co-op. Many of Ace’s corporate positions are filled with people whom Ace has promoted internally. But ... Read More »

Shuttered Retail Spaces Can Lead to Increased Crime

crime

A June 2017 Harvard Business Review study finds that shuttered retail spaces can lead to an increase in crime and theft in their immediate vicinity. However, an operational store can provide communities roughly $30,000 annually in social benefits by reducing crime and ... Read More »

J.C. Penney Financial Exec Steps Down

J.C. Penney

J.C. Penney announced Monday that its executive vice president and chief financial officer, Edward Record, would vacate his position effective July 11 “to pursue other interests,” according to the company. Record joined the apparel and home goods retailer in March ... Read More »

Fred Whyte, Former President of STIHL Inc., Dies at 70

Fred Whyte

Fred Whyte, power tool icon and former president of STIHL Inc., died on July 7 surrounded by family and friends at his Virginia Beach, Virginia, home. The “Man of STIHL” was 70 years old. Originally from Vancouver, British Columbia, Whyte began ... Read More »