Finance & Capital Management

INDIANAPOLIS — The Finish Line's current president and COO Steve Schneider has announced his plans to retire after 24 years with the company.

Workforce management tools can help with compliance, control costs

As an industry with one of the largest populations of part-time workers, retail stands to be hit the hardest by the changes required by the Affordable Care Act. Yet as retailers start planning, many of them simply don't know how to comply, and what the long-term effects will be. Unfortunately, there is no "one-size-fits-all" solution, and employers will have to carefully select a strategy that is right for them.

Englewood, Colo. – Michael Foss has been named CEO of The Sports Authority Inc. He replaced outgoing CEO Darrell Webb, who is retiring both as the company’s chief executive and chairman of the board.

Foss, a member of the board of directors of The Sports Authority since 2009, most recently served as executive VP and CFO at Petco Animal Supplies and as CFO of Circuit City Stores before that. He has 30 years of executive experience across a variety of verticals including retail.

Washington, D.C. – Shop.org, the digital retail division of the National Retail Federation (NRF), named six new members to its board of directors and also reappointed three existing members. All nine members will serve two-year terms.

Somerset, England – British fashion retailer Mulberry operates vertically, selling its own products through a chain of 110 stores. Needing to support this endeavor through improved customer service levels, higher operational efficiency and a more responsive supply chain, in first quarter 2013 Mulberry selected JDA demand and fulfillment solutions, which the retailer will deploy though the JDA cloud services offering.

Boucherville, Quebec - Canadian home improvement retailer Rona Inc. is closing 11 non-profitable stores as part of a broader restructuring plan. Rona will also reduce administrative, marketing, merchandising and distribution expenses and eliminate 125 administrative jobs. In February 2013, Rona cut 200 jobs.

Rona rejected an unsolicited $1.72 billion USD buyout offer from Lowe’s in August 2012.

Fremont, Calif. – George Zimmer, the founder and executive chairman of Men’s Wearhouse who was stripped of his executive chairman title last week and has been engaging in a war of words with the retailer ever since, continued his verbal battle in an open letter released on June 26.

Union, N.J. – Bed, Bath & Beyond Inc. reported positive financial results for the first quarter of fiscal 2013. Although net earnings fell from $206.8 million to $202.5 million, net earnings per diluted share increased roughly 4.5% from $0.89 to $0.93.

New York – Macy’s will pay $175,000 in civil penalties to the U.S. government in an agreement with the Department of Justice (DOJ) settling claims of mistreatment of immigrant workers. In addition to paying the $175,000 fine, Macy’s will also revise its employment eligibility reverification policies and procedures and to provide training to its human resources personnel across the country on the anti-discrimination provision of the Immigration and Naturalization Act (INA).