Corporate Governance

President-elect impacting Tiffany flagship
Tiffany & Co.’s sterling jewel — its flagship on Manhattan’s Fifth Avenue — is feeling the impact of beefed up security and protests at Trump Tower, which is located next door to the store. Since the election, Tiffany said its flagship, the retailer’s largest location and a tourist magnet, has seen an “adverse effect” and sales softness” compared with the year before and relative to the company’s other U.S. stores. And it sees no quick fix of the problem.
The retailer with the best customer satisfaction survey is …
When it comes to customer satisfaction surveys, a convenience store is at the top of the class. That’s according to a study by Interaction Metrics which finds that retailers are wasting customers’ time — and their own — by conducting critically flawed satisfaction surveys.

Off-price retailer to expand overtime pay despite judge’s block

The TJX Companies isn’t letting a federal judge’s decision to block the Obama administration rule expanding overtime pay get in the way of its plans to comply with the rule.
QVC makes executive appointment

QVC has appointed Bob Spieth as executive VP of QVC's customer and business services. He will oversee supply chain, customer service and experience, operations strategy, and corporate real estate and workplace services for both QVC and zulily businesses, with the exception of zulily's corporate facilities. Spieth joined zulily in 2013 as COO. Prior to zulily, he held several leadership roles with OHL, one of the world's largest third-party logistics companies
Walmart loses pay fight with truck drivers

A lawsuit dating back to 2008 has ended in a federal jury handing down a $55 million verdict against Walmart, and opening up the retailer to penalties. The jury found that Walmart failed to pay about 850 of its truck drivers in California all of the compensation to which they were entitled, Reuters reported.
Fast-food giant on tech hiring binge

Subway continues to expand its online capabilities. The chain is hiring 150 people to fill technology, marketing and operations roles for its digital division, according to a report by CIO.com.
HSN, Inc. taps Elizabeth Arden exec as finance chief

HSN, Inc. has appointed Rod Little as CFO, effective January 3, 2017. Most recently, Little served as executive VP and CFO of Elizabeth Arden, where he led the company’s global finance and IT organizations and was instrumental in a turnaround that restored revenue growth and profitability, ultimately resulting in the company’s sale to Revlon. Prior to that, Little was CFO for Procter & Gamble’s multi-billion dollar global salon professional division.
Target CIO talks Cyber Monday deals

In a new post on Target's A Bullseye View blog, Target CIO Mike McNamara explains the reasoning behind the retailer's decision to offer an extensive Cyber Monday promotion: 15% off site-wide and store-wide from Nov. 27 to Nov. 28. McNamara says the retailer's move to combine stores and online for a more seamless holiday shopping experience marks a new chapter in Cyber Monday history.
Holiday Inventory: Intuition just isn’t enough anymore

When it comes to holiday inventory, most retailers use their intuition and industry knowledge to make their sales projections, plan their promotional calendar, and schedule product reorders. This was fine when the season’s promotions were merely percentages off and customers purchased products in stores. But as the retail world becomes more complex, so too must retailers’ holiday plans. With an estimated 40% of retailers’ yearly profits on the line, intuition this holiday season just isn’t enough.
Bed Bath & Beyond looks to boost personalization category with new acquisition

Bed Bath & Beyond hopes its newest acquisition will help it “get personal” with its shoppers.
The rise of fresh-casual

Restaurant retail is in the midst of a revolution. According to the Urban Land Institute, one of the key factors driving traffic at retail is the rise of new food concepts, which account for nearly 50% of shopping center growth nationally. The first volleys of this revolution were fired by a spate of new fast-casual concepts, but as the movement gains momentum, it is evolving from fast-casual to fresh-casual.
Commentary: Federal judge blocks overtime rule

Retailers finally have their reprieve. Late yesterday afternoon, a federal court in the Eastern District of Texas granted a nationwide injunction blocking the enforcement of the FLSA overtime rule. Employers are no longer required to meet the Dec. 1 deadline.