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Labor & Employment

  • Top Best Buy exec cuts stake in company

    Hubert Joly, CEO of Best Buy Inc., is doing a little diversification of his personal stock portfolio.

    Bloomberg reports that as of June 2, Joly has sold 398,000 shares of Best Buy stock, or 44% of his roughly 910,000 company shares, for $12.8 million.

    The retailer said Joly is not exploring other opportunities and has no plans to leave his current position.

  • Walmart shareholders decide on directors, compensation

    Senior management of Walmart Stores Inc. should be happy with the results of its 46th annual shareholders meeting held June 3.
     

  • Following poor Q1, DSW finance chief resigns

    Mary Meixelsperger, senior VP and CFO DSW Inc., is shifting professional gears

    Meixelsperger has resigned from the company effective June 10, to pursue another unspecified opportunity. Coincidentally or otherwise, DSW recently missed expectations for both profits and sales in a difficult first quarter of fiscal 2016. Net income fell 37% and same-store sales also declined, although revenues grew below Wall Street forecasts.

  • Dollar General adds to fulfillment network

    Photo: Dollar General executives and local leaders cut the ribbon to celebrate the grand opening celebration of the company's new San Antonio Distribution Center. (L to R, Steve Sunderland; Wayne Peacock, Chairman, San Antonio Economic Development Foundation; Bexar County Judge, Nelson Wolff; Mike Kindy; Mario Tort; Todd Vasos, Dollar General CEO; Jeff Owen; Alan Warrick, San Antonio City Council; Jeff Owen; Bob Ravener; Jim Thorpe)

  • New Amazon fulfillment centers will ship items of all sizes

    Amazon.com shoppers in the Midwest may be able to get a variety of goods a little quicker in the near future.

    The e-tail giant plans to open two fulfillment centers in Edwardsville, Illinois, and create more than 1,000 full-time jobs between the facilities when they open. Amazon has an existing Illinois fulfillment center in Joliet where it currently employs 1,500 full-time employees, and also recently announced it will open a second Joliet facility that will create another 2,000 full-time jobs.

  • Kroger divisional exec to exit company

    Russ Dispense, president of the King Soopers division of The Kroger Co., plans to retire on July 1 after 51 years with the company.

    Dispense began his career with Kroger in 1965, when he joined King Soopers as a courtesy clerk. He served in various leadership positions in stores and district management through the years, as well as at warehouses, manufacturing plants and administrative offices. Dispense was promoted to VP of retail operations and merchandising for the King Soopers division in 1983. He also served as VP of real estate.

  • Conn’s names new CFO as Q1 disappoints; will open 10-12 stores

    Specialty electronics and furniture chain Conn’s Inc. is shuffling its executive ranks as it swings to a net loss in the first quarter of fiscal 2017.

    Lee Wright, formerly CEO for oil field service firm Professional Directional Enterprises Inc., will succeed Tom Moran as CFO, starting on June 22, 2016. Wright also has experience in the private equity industry. Moran, who joined the retailer in July 2015, is expected to remain at the company for a period of 120 days to support a seamless transition.

  • Lululemon founder slams company management, board

    Chip Wilson, the founder of Lululemon Athletica Inc., is not one to mince words.

    Wilson, the company’s largest shareholder with a 14.2% stake, on Wednesday issued an open letter to investors in which he sharply criticized the apparel retailer’s management, calling its competence “uninspiring at best.” He called for annual election of the board to hold members accountable for Lululemon’s performance.

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