Corporate Governance

Omnichannel success depends on the ability to scale operations to keep up with consumer demand.  

The National Retail Federation filed suit in U.S. District Court on Wednesday on behalf of the millions of employers and employees who it said will be drastically affected if the Labor Department’s changes to the federal overtime rules go into effect on Dec. 1.   Retailers have argued that the new rule will force employers to reduce hours and base pay in order to make up for increased payroll costs.  

Eleven retail tech startups took the stage at Minneapolis’ Orchestra Hall on Tuesday in front of nearly 1,000 people. The goal? Deliver the pitch of a lifetime.  

Francesca's Holdings Corp. has found a chief executive.   The retailer appointed Steven P. Lawrence, who currently serves as chief merchandising officer for Stage Stores, as president and CEO. Lawrence, who was also appointed to the company’s board, will officially join Francesca’s in October 2016.   Lawrence replaces Richard Kunes, who has been serving as Francesca’s interim chairman, president and CEO since May 2016. Kunes will become the company’s chairman of the board.

Target Corp. on Wednesday announced its board has authorized a $5 billion share buyback plan.   The retailer will begin repurchasing shares under the new plan upon completion of its current $10 billion program, which is expected before the end of fiscal 2016 in January. Under that program, the company has purchased $8.8 billion worth of shares.   Target also declared a dividend of 60 cents per common share for the fourth quarter, unchanged from the third quarter.  

Magnolia Bakery, the Greenwich Village shop that ignited the cupcake craze with its appearance on "Sex in the City," opens this week at Woodbury Common Premium Outlets in Central Valley, New York.   This is the first storefront for Magnolia on the East Coast, aside from its original location. It maintains shops in Los Angeles, Chicago, Honolulu, Japan, Korea, Mexico, and the United Arab Emirates.  

The CEO of Jordan’s Furniture wants folks to watch the upcoming presidential debate, which is scheduled for Sept. 26 from 9 p.m. to 10:30 p.m. EST.  

While most of the industry is focused on the upcoming holiday season, Party City has bigger fish to fry — hiring for Halloween.   To prepare for the retailer’s make-or-break season, the chain will hire an additional 35,000 employees nationwide over the next four weeks.