Labor & Employment

The founder and chairman of U.K.-based online luxury retailer Net-a-Porter has unexpectedly resigned from the company ahead of a merger with another e-commerce group.

Washington, D.C. -- The National Retail Federation continues to turn up the heat on the Labor Department’s proposal to expand overtime pay.   

The CEO of Genesco Inc. says the company had strong sales despite the later start to the back-to-school season and some pressures to right-size inventories.

London – Natalie Massenet, founder and chairman of U.K.-based online luxury retailer Net-a-Porter, unexpectedly resigned from the company just as it looks to become a global powerhouse.

The former fashion journalist is leaving as Net-a-Porter, which she launched in 2000, prepares to be purchased from Swiss parent company Richemont by Italian e-commerce retailer Yoox. The merger will create the world’s largest luxury e-commerce group.

Los Angeles -- The nation’s largest privately held specialty premium coffee and tea retailer has a new chief.

The Coffee Bean & Tea Leaf named John Fuller as its new president and CEO. For the past five years, he served as president and CEO of The Johnny Rockets Group, where he directed operations for the multi-million dollar global restaurant chain, which spans 28 countries with 338 locations. Fuller left Johnny Rockets earlier this year.
 

Philadelphia -- Teen and tween fave Five Below Inc. may not be meeting sales projections, but it remains on track for store expansion, with plans to open a total of 70 net new stores during fiscal 2015, including 16 net new stores in the third quarter.

The company, where every item costs no more than $5, is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.

A rapidly expanding retailer led by a former top Walmart executive is supposed to produce strong same store sales growth, leverage expenses and increase profits. So why isn’t Five Below?

Joel Anderson’s tenure as CEO of value priced retailer Five Below (where everything cost less than $5) is off to an uneven start. The company is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.

Bloomington, Minn. -- A three-year old specialty grocer that plans 60 stores by 2019 is entering a new state.

Fresh Thyme Farmers Market will open its first Minnesota store, in Bloomington, on Sept. 30.

"Fresh Thyme is excited to open its first Minnesota store in Bloomington," said Fresh Thyme's CEO Chris Sherrell. "We love meeting new people in the communities we join, and we look forward to offering a shopping experience that encourages healthy and nutritious buying habits."