Finance & Capital Management

Arlington, Va. -- The Retail Industry Leaders Association issued a strenuous objection to what it called the Department of Labor’s “flawed” overtime proposal.

Long Island City, N.Y. -- Steve Madden has made two key executive promotions.

The company announced that Amelia Newton Varela has been named to the newly created position of president, and Karla Frieders has been appointed to the newly created position of chief merchandising officer.

Varela has more than 17 years of experience with Steve Madden in various roles, most recently as executive VP of wholesale.

Indianapolis – With retailers like Amazon.com entering the online services market, online services network Angie’s List is tapping a veteran retail e-commerce executive to run the company.

Scott Durchslag, who served as president of e-commerce and global marketing at Best Buy from 2012-2014, has joined Angie’s List as president and CEO.

Philadelphia – Five Below is opening its largest location to date, in its home city of Philadelphia.
 
The extreme-value retailer, which targets tweens and teens with goods priced at $5 or less, will open a two-story, 13,000-sq.-ft. store next to its headquarters on Thursday, Sept. 10.

Hoffman Estates, Ill. – Sears Holding Corp. is protecting the assets of its pension fund following the creation of its Seritage Growth Properties real estate investment trust (REIT).

The company has entered into a five-year agreement with Pension Benefit Guarantee Corp. (PBGC) to guarantee that it will continue to make required contributions to the fund.

Now that retailers such as Amazon.com are entering the online services market, Angie’s List is looking to fortify its executive ranks by tapping a veteran retail e-commerce executive to run the company.<br style="box-sizing: border-box; margin: 0px; padding: 0px; max-height: 100000px; color: rgb(54, 54, 54); font-family: open_sansregular, Arial, Helvetica, sans-serif; font-size: 14px; background-color: rgb(2

New Jersey-based women's shoe company Aerosoles has named a retail and footwear industry veteran as its next CEO.

In the name of optimizing its omnichannel approach, Macy's said it plans to close between 35 and 40 department stores at undisclosed locations in early 2016 while moving ahead with expansion of its off price format.

Freeport, Maine -- The man who turned a folksy Maine mail-order outlet into a global billion dollar-plus multichannel business has died.

Hoffman Estates, Ill. – Sears Hometown & Outlet Stores Inc. posted declining profits and revenues in a generally difficult second quarter of fiscal 2015.

The retailer plans to close 40-50 underperforming stores by the end of the year, on top of 63 underperforming locations closed in the first half of 2015.