Sears shops at Target, picks up Padilla

HOFFMAN ESTATES, Ill. — Sears, Roebuck and Co. has hired merchant prince Luis Padilla as president of merchandising, a newly created position.

In his new role with Sears, Padilla will lead and integrate all merchandising and marketing across the company's broad product and brand portfolio. He will report to Alan Lacy, Sears chairman and CEO.

Padilla joins Sears from Target Corporation, where he served in leadership roles with the company. Most recently, Padilla was executive vice president, merchandising for Target's Marshall Field's division. Before that he was senior vice president, softlines merchandising, for Target Stores from 1994 to 2001.

"In Luis Padilla, we have one of the industry's most highly regarded retail executives who is credited with outstanding achievement in combining excellent merchant skills with a passion for brand leadership," said Lacy. "His background and experience in bringing great merchandise to both a department store and discount retail environment, to both on- and off-mall formats, is ideally suited for this key leadership position at Sears as we move to grow our business aggressively on all fronts."

"Sears is a great name in retailing with great brands. As a broadline retailer, Sears has a solid opportunity to reconnect with the American consumer in a big way," said Padilla. "I have every reason to be optimistic about our prospects to grow the business."

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