Sears Holdings hired Ron Boire as executive VP and chief merchandising officer. Boire, who previously was president and CEO of Brookstone, will lead merchandising and retail stores for both the Sears and Kmart brands.  

He will work with the company's leadership team to better serve its customers and Shop Your Way Rewards Members by integrating their experiences across stores, online, services and mobile capabilities, the company said.

Hoffman Estates, Ill.-based Sears Holdings plans to close 100 to 120 Kmart and Sears full-line stores after reporting a disappointing recent performance. The Tuesday morning announcement -- contained in a press release titled "Sears Holdings Provides Update" --  reported a 5.2% comp-store sales decline for the quarter-to-date period, and a 2.6% decline in the year-to-date period, ended Dec. 25. 

Losses at Hoffman Estates, Ill.-based Sears Holdings Corp. widened in the second quarter ended July 30. The company's net loss was $146 million, compared with a loss of $39 million in the same quarter last year.

Total revenues decreased to $10.3 billion for the quarter, down slightly from $10.5 billion for the quarter ended July 31, 2010. Kmart's comparable-store sales were flat, and Sears Domestic comparable store sales declined 1.2%.

The Chicago Tribune reported Sears Holdings Corp. CEO Louis D'Ambrosio supplied a strong dose of optimism at the Hoffman Estates, Ill.-based retailer's annual meeting, the day after the company warned of falling sales.

Canada has emerged as a hot destination for home channel expansion. The latest company to enter the massive northern market is Scranton, Pa.-based AZEK Building Products.

The manufacturer of trim, molding, decking and railings will partner with PrimeSource Building Products Canada for complete national two-step distribution across Canada.

In its first-ever expansion outside of the United States, Target Corp. on Thursday said it would acquire up to 220 Zellers discount department stores in Canada from the Hudson’s Bay Co. for $1.8 billion. The deal will allow Target to open 100 to 150 Target stores throughout Canada in 2013 and 2014.

Ace Hardware and Sears Holdings announced jointly on Feb. 19 that Craftsman products, until now the exclusive brand of Sears and Kmart stores, will soon become available through Ace Hardware stores.

Under the initial phase of the agreement, 100 Ace stores will offer an assortment of Craftsman hand tools, portable power tools, compressors, wet/dry vacs and tool storage this May. The following month, Ace will promote a number of Craftsman products, giving all 4,500 Ace stores the opportunity to offer the Craftsman brand to customers.