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Labor & Employment

  • SuperValu beats Q4 profit; sales fall at Save-A-Lot

    SuperValu Inc. on Tuesday reported fiscal fourth-quarter profit that beat expectations. But in a setback to plans to spin-off its deep-discount banner, same-store sales fell 2.2% at Save-A-Lot.

    SuperValu earnings in the quarter increased to $52 million, or 20 cents a share, up from $39 million, or 14 cents a share, a year earlier. Excluding debt refinancing, store closures and expenses related to the potential Save-A-Lot spinoff, adjusted per-share earnings rose to 23 cents.

  • Coach Q3 profit tops estimates; COO out in job reduction

    Coach on Tuesday reported its first growth in quarterly profit in three years. The retailer also announced a series of management changes and corporate job reductions resulting in a pre-tax charge of about $65 million to $80 million in the fourth quarter.

    Coach said it would cut an unspecified number of corporate jobs, and announced that president and COO Gebhard Rainer and global marketing president David Duplantis would leave the company.

  • Chico's reduces costs with marketing shake-up

    Chico's FAS is getting rid of its chief marketing officer.

    The apparel retailer on Monday announced a realignment of its marketing and digital commerce functions that the company expects will reduce its 2016 marketing expenses by $11 million and generate annualized cost savings of approximately $14 million.

  • Staples adds interesting new board members

    Regardless of the final outcome of its acquisition of Office Depot, Staples just nominated three individuals to its board of directors with unique perspectives on growth.

    Curtis Feeny, managing director of Voyager Capital, Deb Henretta, former group president of global e-commerce at Procter & Gamble and John Lundgren, chairman and CEO of Stanley Black & Decker, have been nominated by the Staples board of directors for election at the company’s 2016 annual meeting.

  • Sears Holdings closing 78 more stores

    Sears Holdings announced its latest round of store closings as it continues to look for ways to cut expenses and return to profitability after five years of losses.

    The embattled retailer, which has been steadily shrinking its physical portfolio over the last few years, will close 68 Kmart and 10 Sears stores this summer. (See list of locations at end of story.) In February, Sears warned it would speed up the closing of unprofitable stores.

  • Big conservative group calls for Target boycott

    American Family Association has called on its members to boycott Target Corp. over the chain’s decision to allow transgender employees and customers to use bathrooms that correspond with their gender identity.

    The group said it had gathered 172,494 signatures on a boycott petition by mid-morning on Friday.

  • Nordstrom vet to join The Finish Line

    The Finish Line said that John Hall will join the company in mid-May as executive VP, divisional president and chief merchandising officer.

    Hall, a 30-year Nordstrom executive, most recently served as VP, corporate merchandiser of Rack Menswear.

    At Finish Line, Hall’s focus will span across consumer engagement touchpoints including stores and digital operations, merchandising and strategies involving the company’s product vision. He will drive the retailer’s brand growth strategies.

  • Amazon to open new Dallas fulfillment center

    They say everything is bigger in Texas, and that also applies to Amazon.com’s distribution network.

    The digital retailing giant plans to open a sixth Texas fulfillment center in Haslet, making it the fourth Amazon fulfillment center in the Dallas-Fort Worth metroplex. Amazon currently employs more than 8,000 full-time hourly associates at its Texas fulfillment centers and plans to create 1,000 more full-time positions in the new Haslet facility when it opens.

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