Labor & Employment

Raley’s has given COO Keith Knopf the additional title of president.   Raleys owner & CEO, Michael Teel announced the promotion of Knopf, who joined the company nearly two years ago, around the time Teel took majority ownership of the company. Teel will continue to direct the development of Raley’s overall strategic plan.  

J.C. Penney on Friday announced plans to close stores and reduce its workforce even as it reported its first profit since 2010.    In one of its deepest cuts to date, the retailer said it will close 130 to 140 stores, which represent about 13% to 14% of its total, 1,014 store base. The locations to be shuttered are unprofitable, Penney said, and generated less than 5% of total annual sales.     

Weaker results in its European, Saks Off 5th and Gilt operations contributed to lower fourth quarter sales for Hudson’s Bay Company   For the fourth quarter ended January 28, 2017, the company’s consolidated comparable sales decreased 1.2%. Specifically, DSG (Hudson’s Bay, Lord & Taylor and Home Outfitters) same-store sales increased 0.6%, and Saks Fifth Avenue comparable sales increased 0.1%.   

On the heels of announcing a comprehensive restructuring plan, Sears eliminated 130 jobs at its corporate office on Thursday, Feb. 23.   The layoffs, which are part of a $1 billion cost-cutting plan, were relayed in an email sent to corporate employees Thursday afternoon, according to Business Insider.   

Ron Rubin resigned his post as chairman of the board of PREIT and will be succeeded in that role by CEO Joseph Coradino. His departure was expected, having been announced last month.  

Apple is preparing to unveil its latest development: Apple Park.   The name of Apple’s new spaceship-looking home office, Apple Park is a 175-acre campus located in California’s Santa Clara Valley. The new building, slated to open in April, will welcome more than 12,000 people over a six-month period. Construction of the campus and parklands is scheduled to continue through the summer, Apple said.  

Lowe’s is the latest retailer making job cuts.   The home improvement retailer has laid off more than 500 full-time corporate employees company-wide — its latest effort to streamline the company and boost profitability, the Charlotte Observer reported.    

Staying true to its recently announced growth plan, Dollar General is preparing to break ground on a new distribution center.   

Toys “R” Us is the latest company to downsize its workforce.   The toy retailer laid off between 10% and 15% of the employees at its Wayne, New Jersey headquarters — approximately 250 jobs — on Friday, Feb. 17, Forbes said.   

Restaurants are the current darlings of the shopping center developers. It was reported last year that Americans spent more money at bars and restaurants (a total of nearly $55 billion) than they did on groceries. In case you were wondering how big a deal that is, consider this: It was the first time in recorded history that that was the case. But that’s not the only reason that shopping center owners are mad for restaurants. They are also hubs of social activity that contribute to that all-important and often elusive experiential energy.