Labor & Employment

Macy’s CEO and other top executives are feeling the pain of the chain’s disappointment financial performance in 2015.
   
The board decided to award no bonuses after the chain fell short of its sales, cash flow and earnings goals, Macy’s said in a regulatory filing, according to Bloomberg.

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Minneapolis -- Mid-America Real Estate – Minnesota named Alan Young as principal of the company.

When it comes to what keeps retail CEOs up at night, put exchange rate volatility and over-regulation at the top of the list.

That’s according to PwC’s 19th Annual Global CEO Survey, which explores top business concerns of retail and consumer product CEOs.

Of the many different political, social and economic risks businesses face, those that concern retail sector CEOs the most are over- regulation (37% are extremely concerned), exchange rate volatility (36%), an increasing tax burden (33%), and social instability (29%).

To sophisticated landlords and property managers, co-tenancy provisions contained in commercial leases are routine and (relatively) unexciting. Unfortunately — and perhaps as a result — such clauses are often overlooked. But a co-tenancy default can have a significant impact on a landlord’s bottom line, so landlords and their agents who manage their properties should understand how these provisions operate and the remedies to which a tenant is entitled in the event of a default.

A few days after announcing a new fulfillment center in Edgerton, Kansas, Amazon.com is unveiling plans for another new center that will serve customers a little further west.

Amazon plans to open a seventh California fulfillment center in San Bernardino, where the company launched its fulfillment center in the state in 2012. The retailer currently employs more than 12,000 full-time hourly associates at its six existing California locations and says it will hire more than 1,000 full-time employees in the new San Bernardino facility.

Macy’s CEO and other top executives are feeling the pain of the chain’s disappointment financial performance in 2015. The board decided to award no bonuses after the chain fell short of its sales, cash flow and earnings goals, Macy’s said in a regulatory filing, according to Bloomberg. [Bloomberg]

Former Walgreens and Tyson Foods executive Wade Miquelon was named CFO at Jo-Ann Fabric and Craft Stores.

Jo-Ann said as CFO Miquelon would oversee the retailer’s finance organization, real estate, information technology and general counsel.

A few days after announcing a new fulfillment center in Edgerton, Kansas, Amazon.com is unveiling plans for another new center that will serve customers a little further west.

Amazon plans to open a seventh California fulfillment center in San Bernardino, where the company launched its first Golden State fulfillment center in the state in 2012. The retailer currently employs more than 12,000 full-time hourly associates at its six existing California locations and says it will hire more than 1,000 full-time employees in the new San Bernardino facility.

As it moves to distance itself from the turbulence that marked its past two years, American Apparel Inc. has named three apparel industry executives to its revamped board of directors.

The retailer, which emerged from bankruptcy protection in February, appointed Paul R. Charron, former CEO of Liz Claiborne, as chairman, the Los Angeles Times reported.

Conn’s is planning to make investments in technology, credit and personnel in 2016 as the retailer looks to expand its footprint and improve profitability. 

For the fourth quarter ended Jan. 31 the retailer said revenues increased 7% to $456.8 million. Same store sales decreased 1.7%. Conn's said its credit segment operating loss increased from $11.3 million to $19.3 million, driven primarily by bad debts.