RETAILING

Sears Hires New Boss to Run Stores: The giant retailer reached into the world of high fashion to pick a new boss for its struggling stores. Arthur C. Martinez, vice chairman of Saks Fifth Avenue, was named chairman and chief executive of the Sears Merchandise group. The assignment ends Sears Chairman Edward A. Brennan’s direct oversight of the retailing business, a duty he took over two years ago from ousted retailing chief Michael Bozic. “It’s a sign that Brennan realizes he’s not Samson, and it gets him off the firing line in retailing,” said Alan Millstein, editor and publisher of Fashion Network Report in New York. Despite eliminating 48,000 jobs and overhauling its retailing approach, the merchandise group has continued to perform worse than other major retailers.