Finance & Capital Management

Sheetz is moving forward as planned to implement the changes outlined in the new overtime rule.        

The Wendy’s Company has extended its commitment to reducing energy.   The restaurant chain has joined the Environmental Protection Agency's Energy Star Program and will work to improve energy efficiency through a strategic, corporate energy management program that will enhance the company's energy strategy.  

It’s a rough time for many teen apparel retailers and the holiday season may not bring much relief.   American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a “tough” retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.    

Boohoo, a fast-fashion online retailer based in Manchester, England, is reportedly bidding for bankrupt U.S. retailer Nasty Gal.    Boohoo has filed a petition to incorporate Nasty Gal as part of its business in the United Kingdom, registering the business Nasty Gal Ltd with Companies House, fashionunited.com reported.  

JGA has named Joanne Healy to the newly created position of executive VP, chief strategy officer.   Her responsibilities will span across strategy, creative and business development, bringing her unique perspective to the rapidly evolving world of retail, service and brand experience.    

The ICSC New York Conference is one of the larger gatherings of retail real estate professional’s on the calendar – and is an important touch point for professionals in the NYC market. Ahead of the show, Bob Gibson, retail vice chairman of JLL, based in New York, shared his take on this expansive and important retail market.  

A new billion dollar merger is reported about to rock the supermarket industry.   Albertsons Companies Inc. is in advanced talks to acquire Price Chopper, a privately held, New York-based regional grocery store operator, for around $1 billion, Reuters reported. Price Chopper operates some 130 stores in the Northeast, including New York, Connecticut and Massachusetts.   

A new solar project will make Ikea the largest non-utility solar owner in the state of Ohio.   The home furnishings giant plans to install solar panels atop its future store in Columbus, Ohio, due to open in summer 2017.  It will be the second Ikea solar array in Ohio. The chain installed a 1.026-MW rooftop array at its Cincinnati-area store in 2012.   REC Solar will develop, design and install the solar power system at the Columbus store, which is being built by Pepper Construction. 

More than half (56%) of retailers plan to comply with the planned Fair Standards Labor Act (FLSA) overtime rule for exempt employees on Dec. 1, the date it was to go into effect, despite a Nov. 22 injunction that puts the plan on hold.   That is among the findings of a spot survey of U.S. retailers by the Hay Group division of Korn Ferry.    

Ikea is hoping to build its fifth store in the state of Texas.   The retailer is submitting plans to the City of Live Oak, Texas, for a San Antonio-area store. Pending approvals, construction could begin in spring 2018, with an opening in summer 2019.     Located approximately 15 miles northeast of downtown San Antonio, the 289,000-sq.-ft. proposed Ikea would be built on 31 acres.