The CEO of Sears Hometown and Outlet Stores saw his compensation rise by 40 percent, to $1.5 million, last year as the company spun off from Sears Holdings.
W. Bruce Johnson, who also is president, took home a base salary of $1.02 million, up slightly from 2011. He didn’t receive any stock awards in either year, and his perks rose just slightly. The value of his extras was $37,167 last year compared with $31,575 the year before and included company-paid transportation to and from Johnson’s Chicago home and Sears’ headquarters in Hoffman Estates.
But the biggest jump in his pay package came from a performance-based cash bonus, which was valued at $530,420 last year compared with $94,545 in 2011. The bonus is based on company earnings performance.
Sears Hometown and Outlet became a standalone company in October. The stock is up about 30 percent since. Its fourth-quarter net income rose 22 percent on a 7 increase in sales. Its yearly net income almost doubled.
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