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Christopher & Banks has named Joel N. Waller as president for a one-year term, effective immediately. Waller is charged with revitalizing the business and putting the company back on track to profitability. He will report to Larry Barenbaum, CEO.

ThinkGeek has announced the newest addition to its interactive apparel line: the electronic drum machine shirt. Following in the footsteps of the widely popular electronic rock guitar shirt and electronic music synthesizer shirt, the electronic drum machine shirt features several advancements in interactive musical apparel, including the option to record and play back loops.

Katherine Field Boccaccio Rite Aid Corp. reported Thursday that it lost $54.5 million in the fiscal quarter, narrowed from a loss of $81.5 million a year earlier. The chain has trimmed its projected loss for fiscal 2012 based on the results.

Hoffman Estates, Ill.-based Sears Holdings Corp.'s board of directors has approved the spinoff of its Orchard Supply Hardware Stores Corp., allowing the retailer to push forward on plans unveiled earlier this year, according to www.wsj.com. In June 2011, Sears revealed plans to spin off the hardware store operator, reportedly commenting that both companies could better focus on their goals as separate firms. As a result of the spinoff, Sears' shareholders will receive one share of Orchard Class A common stock and one share of preferred stock for every 22.14 shares they hold of Sears. After the separation, Orchard expects

Online art buyers have long lacked a way to accurately visualize art on their walls, forcing shoppers to purchase without the certainty of seeing how the piece will look in their own living space. To solve this problem, Zazzle, an online product customization and visualization platform, launched Realview, an easy-to-use tool that enables anyone to instantly and accurately visualize posters on their own walls.

NEW YORK — A new survey by Angus Reid Public Opinion revealed a number of similarities and differences between the holiday shopping habits of people in North America and the United Kingdom. The survey found that 40% of Americans, 41% of Canadians and 49% of Britons said they plan to spend less during the 2011 holiday season than they did last year, though 16% of Americans and 21% of Canadians said they're now in better financial situations. By contrast, 39% of Americans and 28% of Canadians said they're in worse shape, compared with 55% of Britons. Meanwhile, gift cards

Import cargo volume at the nation’s major retail container ports should be up 0.3 percent in December compared with the same month last year as retailers head to the finish line of the holiday shopping season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.

Fashionistas and investors all want a piece of Michael Kors, with the designer's company raising $944 million after selling 47.2 million shares in its initial public stock offering. The offering was expected to price between $17 and $19 a piece, but strong demand pushed the price to $20 per share. Kors, an American designer who became a household name in recent years as a judge on "Project Runway," has been one of the top names in fashion for years. His Hong Kong-based company makes high-end handbags, shoes and clothing. The stock is set to begin trading on the New

eBay’s PayPal business is aiming to challenge Groupon and LivingSocial in the market for online daily deals. It plans to start offering coupons tailored to users’ buying habits and mobile phone locations.