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Labor & Employment

  • Report: Bribe probe cost Wal-Mart $439 million

    New York -- Wal-Mart Stores spent $439 million during the past two years to investigate the possible payment of foreign bribes, Bloomberg reported, making it ranks as one of the most expensive probes in U.S. history.

    Wal-Mart spent $282 million in the fiscal year ended Jan. 31 and $157 million the previous year, and expenses will continue to rise, according to an annual report filed March 21. On Feb. 20, Wal-Mart projected FCPA probe and compliance costs would be $200 million to $240 million for fiscal 2015.

  • Johnny Rockets opens new restaurant in Kuwait

    Aliso Viejo, Calif. -- Continuing its opening march through Kuwait, Johnny Rockets has opened a new restaurant at the Divonne Restaurant Complex in Kuwait City.

    Franchisee Haidar Al-Naqeeb is expanding the American chain in the Arabian Gulf; his first unit opened in December 1995 at Salem Al-Mabarak in Salmiyah, Kuwait.  Since that time, he's grown his portfolio to now include over a dozen franchises in Kuwait, as well as Saudi Arabia, Qatar and Bahrain with additional openings planned.

  • Walgreens sees top-line growth in second quarter

    Despite expected headwinds from slower generic drug introductions, comparisons with last year's flu season and severe weather, Walgreens saw solid top-line growth in the second quarter ended Feb. 28, driven by record quarterly sales and record second-quarter prescriptions filled.

    The company also continued to gain prescription market share while maintaining a firm hold on its costs.

    Walgreens posted a sales increase of 5.1% to $19.6 billion for the quarter. First half sales were up 5.5% to $37.9 billion.

  • Kohl’s chief merchandising officer resigns

    New York -- Kohl’s Corp.’s chief merchandising officer, Donald A. Brennan, resigned his position, effective as of April 1, 2014. Kohl's disclosed Brennan's departure in a filing this week with securities regulators.

    Under a separation agreement with the department-store operator, Brennan will receive a one-time severance payment equal to 2.9 times his annual salary plus the average of the three most-recent annual incentive compensation plan payments paid to him, according to a regulatory filing.

  • Coty appoints EVP, supply chain

    Coty has appointed Mario Reis as EVP, supply chain, effective May 1. Based in Geneva, Reis will join the executive committee and report to CEO Michele Scannavini.  

    Reis will replace Darryl McCall who will work on the transition and other projects to ensure continuity in supply chain performance before his retirement Dec. 31.

  • Jeff Gordman steps down as CEO of Gordmans Stores

    Omaha, Neb. -- Gordmans Stores announced that its president and CEO, Jeff Gordman, has given his resignation to the board. The retailer said that Gorman is retiring to spend more time with his family and pursue outside interests.

    T. Scott King, the current chairman of Gordmans’ board, will serve as interim CEO while a search is conducted for a permanent successor to Gordman. King will take an unpaid leave of absence from his position as senior managing director at Sun Capital Partners while he serves in the interim position.

  • New CEO at Crossmark

    Crossmark, a leading sales and marketing services company, has elevated president and COO Ben Fischer to the CEO spot, effective April 7. He will succeed Joe Crafton, who is retiring after 26 years of service with the company.

  • Rite Aid names chief human resources officer

    Camp Hill, Pa. -- Rite Aid Corp. announced that Dedra N. Castle is joining Rite Aid as executive VP and chief human resources officer.

    In this position, Castle will be responsible for all aspects of human resources, including training, recruitment, talent management, compensation and benefits, labor relations, leadership development and diversity. She will report to Rite Aid’s Chairman and CEO John Standley.

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