Labor & Employment

The chief technology officer of Nordstrom is leaving the company after less than a year on the job.      Kumar Srinivasan is leaving the upscale department store company effective Friday, Jan. 7, to return to India, GeekWire reported.    Srinivasan, who joined Nordstrom in March, after serving as the co-founder and CEO of software company Evocalize. Prior to that, he was the former general manager at Amazon Payments Merchant Solutions unit   

The Sunshine State will gain another Amazon fulfillment center.   On the heels of its recent announcement to open a new warehouse in Jacksonville, Fla., the retail giant is planning to open a second facility in the same city, and employ an additional 1,000 workers. Jacksonville’s first fulfillment center was announced six months ago.   

RILA looks ahead to what retailers can expect in the coming year

With the historic 2016 election behind us, there has been much speculation about what to expect from Washington in the coming year.

With consideration of a Republican-controlled Congress and President-elect Trump’s proposed policies, the Retail Industry Leaders Association has outlined below the key legislative and regulatory issues retailers should be aware of in 2017:

In the days and weeks since Election Day, much has been written about the impact results will have on store and restaurant operators. Other than some unease regarding trade and consumer confidence, entry-level employers generally feel optimistic about what might lie ahead with policy changes to taxes, wages and healthcare.

Most employers feel like they had a big “win” election night and in many cases, they may be right. But I think it’s a little early for employers to lace up their shoes for a collective victory lap around the boardroom.

Coach announced the appointment of Kevin G. Wills as CFO, effective no later than March 2017.   Wills joins the upscale specialty retailer from AlixPartners LLP, a global business advisory firm, where he has served as managing director and CFO since March 2014.    

For the second time in a week, Sears Holdings Corp. is borrowing money from the hedge fund of its CEO.   The embattled retailer has entered into a $500 million secured loan facility (maturing in July 2020) with ESL Investments, the hedge fund controlled by Sears chairman and CEO Edward Lampert. Of the total, $321 million was funded immediately, and an additional $179 million may be drawn in the future.  

Preparedness is key for mall owners, retailers

“Just wanting to make sure, No. 1, it is a safe environment; and No. 2, everyone knows it is a safe environment.”

That was the comment Mark Peterson made to a local news station in Rockford, Ill., regarding his top priorities after undergoing what could easily qualify as every mall manager’s biggest nightmare.

Macy’s gave more information about its previously announced store closing plans as it unveiled a series of actions to streamline its store portfolio, intensify cost efficiency efforts and execute its real estate strategy.