Labor & Employment

New York -- The National Retail Federation on Wednesday said it looked forward to continuing to work with President Obama and the new Congress toward the goal of putting Americans back to work and ensuring that the nation’s economy remains the strongest in the world.

By Jason Hamilton, [email protected]

Washington -- The National Retail Federation released the following statement from President and CEO Matthew Shay on the re-election of President Obama:



New York -- Cache reported Tuesday a loss of $6.4 million for the quarter ended Sept. 29, widened from a loss of $1.8 million in the year-ago period.

Sales dropped 5.9% to $45.8 million, and same-store sales declined 2.9%.

The retailer is currently on a hunt for a new president.

Boca Raton, Fla. -- Office Depot Inc. reported Tuesday a loss of $61.9 million for the third quarter, compared with net income of $100.9 million in the same period last year. Results still edged analysts’ expectations.

Revenue dropped 5.1% to $2.69 billion, missing Wall Street’s expected $2.89 billion revenue mark.

Revenue for the office supply chain has fallen for the past three quarters.

West Bridgewater, Mass. -- Supervalu said Monday it has cut about 700 store-level positions at the company’s Shaw's and Star Market stores in New England.

MINNEAPOLIS — Lori Walker, SVP and CFO of Valspar, will retire from the company. The announcement was made by Gary Hendrickson, chairman of the board and CEO of Valspar.

FAIRFIELD, Conn. — In response to Hurricane Sandy, GE today gave $1.1 million to support relief and recovery efforts throughout the Northeast of the United States. One million dollars was given to the American Red Cross Disaster Relief Fund. The additional $100,000 dollars was given to the United Way of America for them to direct to local communities where they determine the need is greatest.

New York -- The Jones Group Inc.  announced the promotion of Cynthia DiPietrantonio to COO, effective immediately.

In this expanded role, DiPietrantonio will oversee production in The Jones Group's overseas facilities, including its production offices in China and Hong Kong, in addition to her current responsibilities overseeing the day-to-day operations of the company. DiPietrantonio, the senior-most operations executive, has been with The Jones Group in several capacities over the past 30 years.

LOS ANGELES — Guess? Inc. announced tht its COO, J. Michael Prince; and SVP and CFO, Dennis Secor.  Both are leaving to pursue other interests. Prince will remain with the company until Nov. 26 and Secor will remain with the company until Dec. 7.

Paul Marciano, CEO, stated, "We wish Michael and Dennis well in their future endeavors and thank them for their contributions to our company. Given the depth of our management team, we expect a very smooth and orderly transition."