Corporate Governance

In a move that is likely to help it attract new talent — and hold on to existing employees — Ikea U.S. has announced one of the most generous and inclusive parental leave programs in the U.S. retail industry.    Effective Jan. 1, Ikea will provide all its 13,000 U.S. salaried and hourly employees who are expanding their families — including mothers, fathers and adoptive and foster parents — with up to four months of paid parental leave.  

Gordmans Stores named Ramin Mozafari as senior VP of planning and allocation.   Mozafari joins Gordmans from Kohl's Department Stores, where he most recently was senior VP, divisional merchandise manager for accessories. Prior to Kohl's, from 2008 to 2012, he served DSW, where he held various merchandising roles including VP, general merchandise manager.  

Beleaguered Sears has lost two of its top executives.   Jeffrey Balagna, Sears' executive VP, and Joelle Maher, Sears president and chief member officer both left the company within the past week, reported Business Insider.    Sears, which will report its third quarter earnings on Thursday, did not announce or explain the departures,  

Michaels came up short in the third quarter, posting earnings and revenue that missed analysts’ forecasts.   The art and craft retailer reported third-quarter adjusted earnings of 40 cents per diluted share, missing analysts' estimates of 43 cents per share.   Net sales increased 5.0% to $1.227 billion, primarily a result of the acquisition of Lamrite West in February 2016 and sales from 19 additional stores.  

Fort Worth-based Trademark Property Co. is making a move to more data-driven marketing efforts with the hiring of Jency Keeton as director of corporate marketing.   As digital brand manager for global marketing at Fossil, Keeton doubled the retailer’s social media audience and directed its website, email, blogging, and influencer programs. Her digital promotions, contests, and user-generated content programs were deployed in stores and all other customer touch-points.  

It’s official. Supervalu has finalized the sale of its discount supermarket business, Save-A-Lot, to an affiliate of Onex Corporation for $1.365 billion in cash.   In connection with the closing of the sale, Supervalu and Save-A-Lot have entered into a five-year professional services agreement whereby Supervalu will continue providing certain back office services to Save-A-Lot.  

There is one trend from the past couple of years shows no signs of stopping anytime soon: the movement of online-only retailers to the physical space. If anything, it’s gaining more momentum.      According to JLL’s Screens to Stores report, even more online retailers will experiment with physical locations in the next five years.    

Luxury jewelry brand John Hardy evokes its Balinese roots at its new, multi-sensory flagship in Manhattan’s SoHo.   

Walmart has agreement to a settlement in a lawsuit that accused the retailer of discrimination against gay employees who were unable to get healthcare coverage for their same-sex spouses.      Under the terms of the proposed agreement, the discounter will set aside $7.5 million to compensate the employees affected by the denial of spousal benefits from 2011 to 2014.  (Walmart changed its policy to include same-sex spouses on Jan. 1, 2014, shortly after the Supreme Court legalized same-sex marriage.)   

Domino’s is rewarding loyalty members with a “piece of the pie” — literally.    Starting Dec. 5 through Nov. 2017, all Domino’s Piece of the Pie Rewards members are eligible for a chance to win 10 free shares of Domino's stock, just for being enrolled in the program. Each month, 25 loyalty members will be randomly selected to win 10 shares of stock. They can keep the shares for their own stock portfolio or sell them at market price, the company said.