Ceo, Retail | featured news

Sears CEO Louis D'Ambrosio received a compensation package valued at $9.9 million last year, most of it in stock awards.

Wal-Mart Stores Inc is finally seeing sustained improvement at its U.S. discount chain, with sales at Walmart stores open at least a year rising for three months straight, Walmart U.S. Chief Executive Bill Simon said on Wednesday.

J.C. Penney Co. says Ron Johnson, who pioneered Apple Inc.'s retail stores, will become the department store's next CEO.

The CEO of Wal-Mart Stores Inc. received a pay package in 2010 worth $18.7 million, a 4 percent dip from the year before, according to an Associated Press calculation, as the world's largest retailer struggled to reverse a decline in a key revenue figure.Mike Duke, 61, received a base salary of about $1.2 million and a performance-based bonus of nearly $3.9 million for the fiscal year that ended Jan. 31.

Buried in a story on Best Buy's retail strategy, CEO Brian Dunn mentioned a startling fact: Internal estimates showed that the iPad had cannibalized sales from laptop PCs by as much as 50%.

This morning Bloomberg reported that Abercrombie & Fitch CEO Michael Jefferies, who has led the retailer for nearly two decades, has announced that he intends to sell as much as 1.79 million of his shares. At current market value, a sale of that magnitude would net him nearly $63 million pretax.