Finance & Capital Management

Walmart is upping some managers’ salaries in anticipation of the Department of Labor’s new overtime rule, scheduled to take effect Dec. 1, 2016.     The retailer, the nation’s private employer, raised salaries for entry-level managers from $45,000 to $48,500 annually, Reuters reported, with the increase going into effect in September. Under the new rule, employers are required to pay overtime to salaried workers earning less than $47,500 a year. The current threshold is $23,660 a year.    

SPECS 2017, the “Retail Event for Store Innovation,” announced that three of the nation’s top financial experts will open the program at the 53rd annual SPECS conference, which will be held March 12-14 at the Gaylord Palms in Kissimmee (Orlando), Florida.  

The nation’s largest specialty toy retailer finds itself in a sweet spot as its most critical selling season approaches.   After years of just cutting costs, Toys “R” Us is starting to put money back into operations, as it looks to grow sales and traffic, Bloomberg reported. And for the first time in a while, the company is building inventory.  

Inland Private Capital Corp.’s Keith Lampi received the Distinguished Service Award from the Alternative and Direct Investment Securities Association during its recent annual conference in Las Vegas.   "Keith has exhibited an honorable commitment to excellence and service to the industry while adhering to the highest ethical standards and quality performance," said ADISA executive director and CEO John Harrison in presenting the award.   

It’s shaping up as a busy fall for Ross Stores.   The retailer is opening 25 Ross Dress for Less ("Ross") stores and nine dd's Discounts stores across 16 different states in September and October.   The new locations round out the company's expansion plans to add approximately 90 locations in 2016.  

Experienced investment industry executive David R. O’Reilly has been named chief financial officer of The Howard Hughes Corporation and will assume the office on Oct. 17. He fills the vacancy left by retired CFO Andrew Richardson.   O’Reilly joins the company from Parkway Properties, a Florida-based real estate investment trust whose portfolio is focused on office properties.  Previously, he served in senior executive positions at Banyan Street Capital, Barclays Capital, and Lehman Brothers.  

Driving innovation across Ralph Lauren’s channels has become a family affair.   David Lauren, the son of designer Ralph Lauren, was appointed vice chairman and chief innovation officer for the fashion brand.   Lauren’s new role coincides with the company’s “Way Forward” business plan designed to revive sales and reinstate the company’s “hip” reputation, Bloomberg reported.  

MOM’s Organic Market started as a produce delivery company based out of the founder’s mother’s garage and has grown into a 16-store grocery chain.     “We carry much more than Trader Joe’s and less than Whole Foods,” founder Scott Nash told The Washington Post.