Corporate Governance

A sizzling Ulta Beauty wowed the Street on Thursday, announcing aggressive store expansion at a time when many brick-and-mortar retailers are cutting back. It also upped its outlook.  

Ikea is expanding its presence in the Sunshine State.   The home furnishings giant is set to begin construction next month on a store in Jacksonville, its fifth location in Florida, with a planned opening in fall 2017, increasing the Swedish retailer’s presence in the Sunshine State.    Ikea has chosen Marcobay Construction, Lakeland, Fla., to serve as construction manager for the Jacksonville site work and store development project.  

With its recent acquisition of Jet.com, a commitment to growing its online grocery business with a convenient grocery pick-up option and an extensive investment against delivering a seamless digital shopping experience, Walmart is once again flipping the script on what it means to compete for America's shopping dollar.   The company's investment in grocery pick-up services represents the cover of that new script - and Walmart is expanding that service to 600 stores this year and 500 stores next year.  

Weis Markets has appointed R. Gregory Zeh, Jr. as VP/CIO of the company.    Zeh will oversee Weis’ day-to-day information technology functions, working in support of marketing and merchandising, supply chain and in-store management retail applications.   

Two senators have introduced legislation to change the Americans with Disabilities Act.      On Sept. 28, Senators Jeff Flake (R-AZ) and Roger Wicker (R-MS) introduced a bill that contains a “notice and cure” provision that would create a temporary halt in ADA litigation for up to 120 days to allow property owners to correct identified barriers to access. (A similar bill was introduced in the House.)  

Jo-Ann Fabric and Craft Stores’ is making more executive changes.   The chain appointed Michael Goulder to senior VP, inventory management and supply chain. Chosen for his ability to drive significant performance improvements, Goulder has a track record for linking innovative strategies to operating tactics and leading organizational change, according to a company statement. He will report to the company’s president and CEO, Jill Soltau.  

Two non-traditional retailers are on the hunt for space to set up shop in the Big Apple.   QVC and Cornerstone, a division of HSN, are looking for real estate to open stores in the Herald Square area of Manhattan, the New York Post reported.  

Walmart is upping some managers’ salaries in anticipation of the Department of Labor’s new overtime rule, scheduled to take effect Dec. 1, 2016.     The retailer, the nation’s private employer, raised salaries for entry-level managers from $45,000 to $48,500 annually, Reuters reported, with the increase going into effect in September. Under the new rule, employers are required to pay overtime to salaried workers earning less than $47,500 a year. The current threshold is $23,660 a year.