Finance & Capital Management

New York - Nine West Holdings Inc. is taking ownership of its Canadian brand assets, including 45 store leases.

The company has acquired the business operations of Sherson Group Inc., which previously held the exclusive rights to the Nine West, Anne Klein and Easy Spirit brands in Canada.

Nine West intends to continue providing these brands to customers across Canada at Nine West mall-based locations and Shoe Studio outlet stores, as well as at department stores.

Proposed changes to overtime exemptions could make store managers eligible

The Department of Labor’s long-awaited proposed revisions to the “white collar” overtime exemptions are finally here — at least, in part. On June 30, 2015, the DOL unveiled its proposed revisions to the required salary levels for many of the “white collar” exemptions to the FLSA’s overtime requirements.

Charming Charlie has been on an upward trajectory for the past 10 years, and it shows no signs of stopping anytime soon. With 350 U.S. stores (plus four in Canada), the Houston-based, privately held jewelry and accessories retailer is busy expanding at home and, more recently, abroad. In June, it opened its first-ever location in New York City, a three-level, 16,000-sq.-ft.

Green Bay, Wis. -- The Green Bay Packers announced details for the master plan of the Titletown District, a destination area to be created immediately west of Lambeau Field Stadium in Green Bay, Wisconsin. The Packers will invest approximately $65 million in Titletown, with a cumulative initial investment by all parties to be between $120 million-130 million.

Aliso Viejo, Calif. – Johnny Rockets is now focusing its global expansion efforts on developments in Southeast Asia. The casual dining chain is seeking area developers for expansion into Thailand and Vietnam.

Johnny Rockets currently operates Southeast Asian franchise stores in Indonesia, the Philippines and Malaysia through its 14 open restaurants and eight others in development.

Vancouver, Wash. – Papa Murphy’s Holdings Inc. is setting its sights on Jacksonville, Florida. The pizza chain is opening four new franchised stores in Jacksonville on Aug. 27.

These stores will join five other Papa Murphy’s units already located in the greater Jacksonville area.
 

Charlotte, N.C. -- Private equity firm Sycamore Partners is adding a department store to its growing portfolio.

Belk, the nation's largest family owned and operated department store company, on Monday announced that it has entered into a definitive agreement to be 100% acquired by Sycamore Partners in a transaction with an estimated value of approximately $3 billion.

As the 10th anniversary of Hurrican Katrina approaches, Walmart and the Walmart Foundation are making a commitment to disaster relief efforts.

Private equity firm Sycamore Partners is adding a department store to its growing portfolio, which includes such brands as Aeropostale, Jones New York and Nine West.

Sears Holdings Co. has made an interesting choice to lead its hardlines division.

The company announced that Lynn Pendergrass has joined the company in the new role of president, hardlines. In this position, she will be responsible for working across the Kenmore, Craftsman & DieHard business unit and its hardlines partners — including Home Appliances, Lawn & Garden, Tools, and Sears Auto Centers — to develop compelling offers and build relationships with members who shop the hardline categories.