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Labor & Employment

  • Market Profile: Detroit’s new model is revved and ready to roll

    To understand the current state of the Detroit real estate market, and to appreciate how and why Detroit is such a hot market today, we have to look to the past. Historical context is crucial here because, more than most cities, the story of Detroit is the story of a city shaped by its past. In many cases, the building blocks of today’s development boom are being literally and figuratively laid across foundations that were laid years ago.  

  • Macy’s in big store closing move

    Macy’s Inc. announced that it will close 100 full-line namesake stores as part of a wider effort to improve its business and succeed in an omnichannel environment. The move comes after six straight quarters of declining same-store sales.      The department store giant said it plans to concentrate its resources on the best-performing locations, and to invest in those stores by adding new vendor shops, increasing the size and quality of staff and new technology.  

  • Experts Weigh In: Macy’s to close 100 stores

    “I'm sad to see this news. Macy's is an iconic retailer with a long history of success, and one of many victims of Amazon success. In the same week that Jeff Bezos pockets roughly $800 million personal dollars, Macy's is forced to suffer a tremendous physical retail loss.  

  • Amazon vet joins Target

    Target Corp. has tapped another veteran of Amazon to join its supply chain team.   The retailer announced that it has appointed Preston Mosier as senior VP, fulfillment operations, effective Aug. 14.  

  • Ralph Lauren turnaround effort impacts Q1

    Ralph Lauren Corp. swung to a loss in its first quarter as costs related to efforts to turn around its business cut into first quarter earnings. But it still managed to beat Wall Street expectations.   The company lost $22 million, or 27 cents per share, versus net income of $64 million, or 73 cents per share, in the year-ago period.     Revenue in the quarter was down 4% to a better-than-expected $1.55 billion.     

  • Exec appointment at Timberland

    VF Corporation announced the promotion of Jim Pisani to the position of global brand president, Timberland, effective immediately.   Pisani most recently served as president of VF’s licensed sports group.  

  • South African-based retail giant enters U.S. with $3.8 billion acquisition

    A company relatively unknown outside its home base has entered the U.S. retail market in a deal to acquire Mattress Firm Holding Corp., the largest mattress retailer in the United States.   

  • Report: Bankrupt teen apparel chain in negotiations with Versa Capital

    Aeropostale is negotiating a potential sale to private equity firm Versa Capital Management LLC, Reuters reported. Versa specializes in distressed investments.      In court papers filed at the end of last week,the retailer said it has been in discussions with Versa regarding a possible stalking horse bid at the chain’s bankruptcy auction later this month. The bid by Versa could include a cash payment for Aéropostale’s inventory, and the assumption of more than 500  
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