Labor & Employment

Washington, D.C. -- The National Retail Federation welcomed a proposal to reform the nation’s tax structure announced Wednesday by House Ways and Means Committee Chairman Dave Camp, R-Mich., saying it would strengthen the economy and jobs.

Severe winter weather was no match for Lowe’s in the fourth quarter. The company reported sales of $11.7 billion, up 5.6% from the same quarter last year, as comps increased 3.9%.

The company also posted fourth-quarter net earnings of $306 million, up 6.3%.

New York – Aeropostale Inc. is reportedly working with investment bank Barclays plc to investigate options including selling the company to a private equity firm or a regular equity sale. According to Bloomberg, Aeropostale CEO Tom Johnson is already trying to reverse four consecutive quarters of losses through new products and the closure of up to 40 stores.

In November 2013, major investor Crescendo Partners sent Aeropostale a letter demanding the company sell itself. Aeropostale and Barclays did not comment in the article.

Bed Bath & Beyond has promoted Eugene A. Castagna, previously CFO and treasurer, to the role of chief operating officer. Susan E. Lattmann, formerly VP of finance, will fill the CFO and treasurer spot.

New York -- Bed Bath & Beyond has appointed Eugene A. Castagna, previously CFO and treasurer, to the role of COO. Susan E. Lattmann, formerly VP of finance, will fill the CFO and treasurer spot.
 
Castagna has been with the company since  1994 and has served as CFO and Treasurer since 2006. Previously, he served as assistant treasurer from 2002 to 2006 and as VP of finance from 2000 to 2006.

Jacksonville, Fla. -- Stein Mart plans to open 10 new stores this year as part of the company's largest store expansion since 2007.

The expansions begin with new locations in the Miami, Washington, D.C., and Las Vegas areas set to open this spring. This year's new store openings will bring the company's total nationwide store count to more than 270.

The announcement of this expansion follows the company's fiscal 2013 same-store sales growth of 3.7%.

Stein Mart plans to open 10 new stores this year as part of its largest store expansion since 2007.

Locations in the Miami, Washington, D.C., and Las Vegas areas are set to open this spring, bringing the company's total nationwide store count to more than 270.

Since Office Depot completed its merger transaction with OfficeMax Nov. 5, 2013, the company has been aggressively executing its integration plan. The company’s fourth quarter results for the period ended Dec. 28, 2013 include OfficeMax’s operations, which generated $939 million of sales.