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Labor & Employment

  • Lumber Liquidators hit by profit drop, possible DOJ charges

    Despite weak sales and possible criminal charges from the Department of Justice, Lumber Liquidators Inc. plans to keep its aggressive expansion plans in 2015

  • Long John Silver’s names Sonic brand exec CEO

    Louisville, Ky. - Long John Silver's has named James O'Reilly as CEO. O'Reilly brings to the role more than 20 years of food service executive experience, including his most recent stint as chief brand officer for Sonic Drive-In.

    In addition, O'Reilly has served in a variety of domestic and international leadership positions for food service and CPG companies including Einstein Noah Restaurant Group, Yum Brands, and Procter and Gamble.
     

  • TJX profits rise, so will employee wages

    It’s no wonder Macy’s is looking to allocate part of its $1 billion capital expenditure budget into opening off-price stores when you look at the financial results TJX Co. reported for the fourth quarter.

    The company reported an 11% increase in profit for the quarter ended Jan. 31. Net sales for the fourth quarter were $8.3 billion, a 6% increase over last year. Same store sales increased 4% over last year’s 3% increase. Net income was $648 million and diluted earnings per share were $.93, a 15% increase over last year’s $.81 per share.

  • The Coffee Bean and Tea Leaf appoints Starbucks vet as Asia VP

    Los Angeles - The Coffee Bean & Tea Leaf has added Andrew Nathan as senior VP of Asia Pacific and member of the executive team. In this newly created role, Nathan will be the primary driver of the company's growth opportunities in Asia, including responsibility for operations in Singapore and Malaysia.

    Nathan assumes responsibilities previously held by Victor Sassoon, CEO of Asia Pacific, who continues as a board member of the company. Nathan will be based in Singapore and report to John Dawson, president and CEO.

  • TJX Q4 profit surges 11%; announces employee wage hike

    Framingham, Mass. -- The TJX Cos. on Wednesday reported an 11% rise in fourth quarter profit and said it would raise employee pay above the minimum wage.  It also announced plans to expand into two more global markets.

    On a more downbeat note, the off-price giant said it expected a strong dollar to reduce its profit by 5% and the new wage hikes to lower earnings by 4% the year ending Jan. 30, 2016.

  • Canada proves costly, but Target’s U.S. comps solid

    Target’s better than expected 3.8% fourth quarter same store sales increase softened the sting of a massive $5.1 billion charge the company said it would take related to its retreat from Canada.

  • Wendy’s adds former Microsoft marketing head to board

    Dublin, Ohio - The Wendy's Co. has increased the size of its board of directors from 10 to 11 members and elected Michelle "Mich" Mathews-Spradlin to serve as a director of the company, effective immediately.

    Prior to her retirement in 2011, Mathews-Spradlin worked at Microsoft Corp. for 18 years, where she served, among other roles, as chief marketing officer and senior VP. In this position, she oversaw the company's global marketing function.
     

  • Sears Canada swings to loss in Q4

    Toronto – Sears Canada Inc. swung from profit to loss in a dismal fourth quarter of fiscal 2014. The retailer reported a net loss of $123.6 million in the fourth quarter of fiscal 2014, compared to net income of $373.7 million in the same period a year earlier.

    The net loss included a pre-tax asset impairment charge of $99.3 million related to leasehold improvements in full-line and Hometown stores, and intangible assets. In addition, the net income a year earlier included several one-time tax gains, real estate sales and legal settlements.

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