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Labor & Employment

  • Teen apparel retailer hires financial advisors

    Pacific Sunwear of California has hired financial advisors to help deal with its maturing debt, according to The Wall Street Journal.

    In 2011, PacSun received a $100 million credit line from Wells Fargo and a $60 million loan from an affiliate of Golden Gate Capital. Both loans will be due in December, the report said.

    Similar to other teen retailers, PacSun has been dealing with increased online competition and a shift in teen spending. The company has had three consecutive quarters of declining sales and negative same-store sales.

  • Retail employment up

    A strong report on Friday from the Labor Department shows that retail employment was up 51,100 jobs in February on the heels of a gain of 52,100 in January.

    Compared with February 2015, retail jobs were up by 247,300. The numbers exclude gasoline stations, automobiles and restaurants.

  • Report: Nordstrom trims IT staff

    As part of a leveling of its technology spending, Nordstrom Inc. has made a reduction in its technology personnel.

    According to Geekwire, Nordstrom recently laid off 10 employees in its technology department.

  • Costco doing something it hasn’t done in nine years

    Costco Wholesale Corp. is raising entry-level wages for its hourly workers for the first time since 2007.

    The move comes as other major retailers have been upping the minimum wages for their entry-level workers amid a tightening job market.

    Starting this month, Costco will pay workers $1.50 more per hour in the U.S. and Canada. Workers will now earn at least $13 or $13.50 per hour, up from a minimum of $11.50 or $12 per hour.

  • CST Brands puts itself up for sale

    Convenience store chain CST Brands has addedtwo new independent directors to its board and announced it plans to pursue “strategic alternatives” that could include selling the company.

    The company says the strategic review process will be comprehensive and will include a fresh look at several of CST's previously announced strategic initiatives and plans.

  • Staples offers FTC justification for Office Depot acquisition

    Another set of weak quarterly results from Staples and another round of store closures could give the Federal Trade Commission more evidence to support Staples long-running effort to acquire Office Depot.

  • Kohl’s serves its communities through philanthropy

    Kohl’s announced it donated more than $51 million in 2015 through various charitable efforts and programs.

    The donations include nearly $16 million in corporate grants through Kohl’s premier associate volunteer program and approximately $19 million donated through Kohl’s Cares® cause merchandise, in addition to other philanthropic giving.

  • Here's the secret to Publix's success

    For the 19th consecutive year, Publix has been honored as one of Fortune magazine’s “100 Best Companies to Work For.” The magazine sent a journalist to work at a Publix grocery store for several days, and he discovered what makes Publix so successful.

    Read more by clicking here.

  • Halstead Property names new president

    New York -- Halstead Property announced the promotion of Richard J. Grossman to president. In his new role, Grossman will work closely with Halstead CEO Diane M. Ramirez and will also continue to oversee the Village and SoHo offices together with Sara Rotter, executive director of sales for Downtown.

  • Stage Stores to close 30 units after weak Q4

    Warm weather was a problem for most retailers in the fourth quarter, but Houston-based Stage Stores also got hit by weakness in the energy sector and the Mexican Peso.

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