Labor & Employment

Francesca’s Holdings is looking for a new CEO after the abrupt departure of former Chairman, President and CEO Michael Barnes and weaker than expected first quarter guidance caused the company’s shares to plummet.

The long-awaited changes to federal overtime rule will be unveiled later today at an event in Columbus, Ohio, headlined by Vice President Joe Biden, Labor Secretary Thomas Perez and Ohio Senator Sherrod Brown (D). The most notable change is a nearly doubling of the current salary threshold from its current $23,360 to $47,476 under which virtually all workers will be eligible for time and a half pay. The dramatic change would make nearly five million currently exempt employees nationwide eligible and will go into effect Dec. 1.

The retail supply chain is one of the most male-dominated areas of the historically male-dominated retail industry, but a growing number of female executives are shifting the paradigm. During the Women in Supply Chain & Technology luncheon held at the recent Manhattan Associates Momentum 2016 conference in Orlando, Florida, three veteran female retail supply chain practitioners discussed the challenges and rewards of their pioneering careers.

Veteran Bon-Ton Stores executive Michael Ricart has joined value-priced department store chain Gordman’s Stores as senior vice president of stores.

Lowe’s takeover of Canadian home improvement chain gets regulatory OK With regulatory hurdles out of the way, Lowe's Cos. is one step closer to completing its acquisition of Canadian home improvement retailer Rona Inc. Lowe's has officially been granted approval under the Investment Canada Act and clearance from the Competition Bureau. Rone operates nearly 500 stores in Canada.

The chief financial officer of Tiffany & Co. is stepping down. The high-end jeweler disclosed in a regulatary filing that CFO Ralph Nicolette is resigning, effective May 20, 2016. Nicolette, who was appointed to the position In April 2014, is leaving to become CFO of consumer products company Newell Brands Inc. (Newell was formerly known as Newell Rubbermaid.) Prior to Tiffany, Nicolette was CFO of Cigna Corp., and Alberto Culver.

Presumptive Republican presidential nominee Donald Trump is no fan of Amazon, its founder and CEO Jeff Bezos, and The Washington Post, which Bezos also owns. Trump told Fox News personality Sean Hannity that "Amazon is getting away with murder, tax-wise. He's using The Washington Post for power so that the politicians in Washington don't tax Amazon like they should be taxed.”

The Department of Labor's (DOL) proposed overtime regulations are one step closer to becoming a reality for the American workforce. On March 14, 2016, the DOL submitted their final version of the regulations to the White House's Office of Management and Budget (OMB) for review, signifying the last step in the regulation becoming law.

There will not be a tattoo parlor in the new 365 by Whole Foods Market chain. But there will be less products, less employees and more bright color accents compared to a traditional Whole Foods—and there will also be a robot, according to a report in The New York Times.

Mark Horgan has been named executive vice president and chief investment officer at Brixmor Property Group and been give a wide range of responsibilities as the newest member of a revamped senior leadership team.