Strategy

BAKERSFIELD, Calif. — Ikea helped out young people transition out of foster care by donating 110 bags filled with Ikea products.

The Ikea "starter kits" included sheets, a comforter, pots and pans, towels and other in-home necessities.

CLEVELAND — Greeting card maker American Greetings announced last week that its board has formed a committee of independent directors to consider an offer to privatize the company, reported the Associated Press.

According to AP, CEO Zev Weiss and his brother, president and COO Jeffrey Weiss, along with other investors and executives, submitted a proposal to the board on Sept. 25. The group wants to buy all of the company's common stock that it doesn't already own for $17.18 per share, valuing American Greetings at approximately $581 million.

New York -- Ricky's has named Catherine Moellering, former executive VP at retail consultancy the Tobe Report, as president and CEO, Crain’s New York reported.

Todd Kenig, the former CEO who founded the beauty store chain with his brother Ricky, left the company early this year. He was replaced in the spring by Richard Krantz, who is no longer with the company.

Washington, D.C. -- A revised antitrust settlement on the issue of credit card swipe fees doesn't go far enough, The National Retail Federation said Friday.

Seattle -- Outdoor gear and apparel retailer REI said Monday it has promoted Brian Unmacht to COO, expanding his role to oversee retail, e-commerce, merchandising, private brands, information technology and supply chain.

Unmacht started at REI as a store supervisor in 1986 and has risen through the ranks, most recently serving as executive VP over sales, service, store development and logistics.

Richmond, Va. -- Poll results released Monday by hourly employment network Snagajob found that most hourly employers are not waiting until after Election Day to make business decisions. The survey found that more than half of hourly employers (55%) cited potential healthcare requirements as the key presidential election issue most likely to affect their business. Possible economic stimulus plans (25%) and tax code changes (14%) were among other concerns weighing on hourly employers.

Tokyo -- Analytic data solution-provider Teradata said Monday that Takashimaya Co. has completed deployment of a Teradata data warehousing environment to serve as the primary data analytics system for centrally housing and managing its product and customer information.

Takashimaya is one of the world's largest chains of department stores, and is the nucleus of the Takashimaya Group worldwide.

Dallas -- Tuesday Morning Corp. on Monday reported a loss of $7 million for the quarter ended Sept. 30, widened from a loss of $5.7 million in the year-ago quarter.

The clearance retailer’s new CEO Brady Churches also announced the departure of executive VP and COO Michael Marchetti, a 12-year veteran of Tuesday Morning.

In the first quarter, the company saw revenue edge up 1.3% to $172.8 million and same-store sales increased 1.7%.

By Bruce M. Cross, [email protected]

In the holiday rush, it's easy to overlook wage-hour issues. This article discusses common ones to which retailers should be alerted, including: temporary workers and independent contractors; unpaid interns and trainees; “off-the-clock” work, meal and rest breaks; seating requirements; cost of uniforms; workplace safety; and overtime exemptions.

Temporary workers

Dallas -- Dave & Buster's Inc. said Monday it has named Kevin Bachus as its senior VP entertainment and game strategy, effective immediately.

Bachus is co-creator of the Xbox videogame console system. He joins Dave & Buster's from social network Bebo, where he was chief product officer.
 
In the newly created Dave & Buster’s role, Bachus will be responsible for driving the evolution from on-premise-based entertainment to multi-platform gaming, including mobile and online.