Labor & Employment

Ken Martindale has stepped down as chief executive of Rite Aid Stores to take the reins of the struggling GNC Holdings.   The specialty retailer of vitamins and supplements on Wednesday announced that Ken Martindale would succeed GNC interim CEO Bob Moran, effective Sept. 11. As part of the transition, Moran will become chairman, replacing Michael F. Hines, who will remain on the board.   

It's a homecoming for Abercrombie & Fitch Co.'s next finance head.   The teen apparel retailer appointed Scott D. Lipesky as senior VP and CFO, effective October 2, 2017. Lipesky most recently served as CFO of American Signature Inc., a privately-held home furnishings company. Prior to that, he spent nine years with Abercrombie in a variety of finance roles, most recently as CFO of Hollister Co.  

It's going to be a busy September for Dick's Sporting Goods.   The retailer will open eight namesake stores and two new Field & Stream stores in the first half of September, including three locations in California. The openings will give the company 711 Dick's locations and 34 Field & Stream locations across the country.   

Target is losing another key executive.   Jackie Rice, Target's chief risk and compliance officer, announced she will be leaving the company at the end of the month. Rice announced that leaving is a personal decision, and she wants to be closer to her family who lives outside of Minneapolis, according to the Minneapolis-St. Paul Business Journal.  

Wages

Overtime: A federal district court judge officially struck down the Obama-era overtime rule which would have raised the overtime threshold to $47,476/yr. The same judge issued a stay of the rule last December. The final decision was based on the argument that job responsibilities, and not just salary levels alone, should have been considered in setting the threshold.   

Genesco Inc. announced that Mario Gallione has been named president of the company's Journeys retail division. He most recently served as chief merchandising officer of The Journeys Group.   Gallione will report to James C. Estepa, who will continue to serve as CEO of The Journeys Group. Estepa also remains a senior VP of Genesco. Gallione's appointment is intended as the first step in a succession plan to prepare for Estepa's eventual retirement.  

Dollar General turned in mixed results for its second quarter, with gains in sales but a dip in profits and a decline in gross margins.    Net sales rose 8.1% to $5.83 billion in the quarter ended Aug. 4, compared to $5.39 billion in the year-ago quarter, better than analysts were expecting. Same-store sales increased 2.6%, also better than expected, driven by increases in average transaction amounts and customer traffic.   

The chief executive of the nation's largest specialty retailer of swimming pool and spa supplies and related products is stepping down.    Leslie's announced that chairman and CEO Lawrence Hayward will be retiring and transitioning from his role as CEO, effective September 30, 2017.  He will continue to serve as chairman.