Management

Talbots is seeking a new CEO as it works to turn around its struggling business. The retailer said that President and CEO Trudy Sullivan plans to retire as soon as a successor is named.

According to the Department of Labor, the retail industry added nearly 50,000 jobs in November, the second highest increase since September 2007. However, the Retail Industry Leaders Association warned that new regulations could impede the continued pace of job growth.

Talbots is slashing another 100 jobs at its Hingham, Mass. headquarters, abruptly suspending its national advertising campaign, and reportedly looking for new leadership after years of a failed turnaround.

With expendable income being scarce in today’s economy, consumers have become highly skilled at comparison shopping. While shopping for the best deal once required serious effort — driving from store to store and/or comparing catalogs — it’s an easy process now.

Frederik Meijer, who built the regional retail powerhouse Meijer while nurturing his lifelong love of the arts, died late Nov. 25 at a hospital in western Michigan. He was 91. The billionaire passed away at the Spectrum Health System in Grand Rapids after suffering a stroke in his home early that morning, according to a statement issued by the company.

Target has promoted Casey Carl to president of multichannel and senior vice president of merchandising, a move that will now have him oversee the recently relaunched Target.com. The discount store chain said that Carl, who most recently served as senior vice president of hardlines and as a co-lead on Target's multichannel steering committee, takes over the posts effective immediately.

Online luxury clothing retailer Gilt Groupe plans to launch an initial public offering late next year or possibly in 2013, the company's chief executive told the Financial Times. "I think it's entirely possible that in 2013, depending on the markets and depending on how things are going, that we would look to go public," Chief Executive Kevin Ryan was quoted as saying.

Tom Casey, who joined American Apparel in October 2010 to help the ailing company recover its financial standing, has resigned from his role as acting president just two months shy of his 15-month contract. He's the third major name to jump ship in the past two months.

Whether it’s an unbeatable return policy, a helpful sales associate or 24-hour shopping convenience, holiday shoppers define customer service in a variety of ways. The National Retail Federation Foundation has announced the top 10 retailers for excellent customer service selected by shoppers in the seventh annual NRF Foundation/American Express Customers’ Choice survey.

2011 was the kind of year that tests leaders. So when Fortune set out to pick a Businessperson of the Year (and 49 runners-up), great stories were easy to find.