Corporate Governance

The Minneapolis Star-Tribune is reporting that Target laid off 140 staffers and eliminated 50 open positions at its headquarters on Wednesday.

According to the newspaper, the eliminated positions were in places “we identified redundancies or opportunities for greater efficiencies,” Molly Snyder, a Target spokeswoman, wrote in an e-mail. 

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Usually it’s California causing regulatory headaches for retailers and suppliers, but now tiny Vermont is getting in on the action with onerous labeling requirements and hefty fines that are expected to be a compliance nightmare.

No great surprise that Walmart sits atop the Fortune 500 list of the world’s largest companies with its annual revenues of $485.6 billion.

Naturally, that raises familiar questions about future growth which were addressed by president and CEO Doug McMillon.

According to Fortune, Walmart is a crossroads as it transitions from the big-box era that propelled it to the world's largest company, to one in which customers are fussier about what they eat and can easily comparison shop thanks to the internet.

Walmart is moving its greeters back to the front of the store three years after the retailer moved them to the back.

The Wall Street Journal is reporting that the retailer is experimenting with moving the greeters back to the front of the store in part to deter theft. Walmart is testing the approach in several hundred of its 4,500 or so U.S. stores, the newspaper says.

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Fort Worth, Texas -- There was good news in Pier 1 Imports’ first quarter performance, including a 2% increase in same-store sales.

The retailer reported net income of $6.9 million for the quarter, ended May 30, down from $15.1 million in the year-ago period. Its results were in line with expectations.  

Garden City, N.Y. -- Jared The Galleria of Jewelry has devoted an entire store to one of its product brands.

The new store, Le Vian by Jared, is located at the Roosevelt Field Mall, Garden City, New York, and features the full Le Vian product line, from jewelry and timepieces to handbags and scarves. The space features curated in-store boutiques devoted to the individual product categories.

Montvale, N.J. -- The Great Atlantic & Pacific Tea Co. is actively shopping 137 of its stores, including 10 Food Emporium locations in New York City, according to the New York Post.  

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New York -- Federal regulations governing unmanned aircraft systems, or drones, will be in place by this time next year.

Most retailers won’t be ready, but Amazon says it will be as soon as the feds are. Testifying at a congressional hearing on June 17, Paul Misener, Amazon.com’s VP of global public policy told lawmakers it would be ready to deliver packages via its service branded as Prime Air as soon as federal rules are in place.

Farmingdale, N.Y. -- Ferrandino & Son, Inc. has been named one of the largest landscape companies in North America by Lawn & Landscape magazine.
 
Ferrandino & Son, Inc. ranked within the top 10 on the 2015 Lawn & Landscape Top 100 list, which was published in May.
 
“Ranking in the top 10% of the largest landscaping companies in North America is a major accomplishment for us,” said Kevin Smith, COO, Ferrandino & Son,
 

Madrid – Spain-based European department store chain El Corte Inglés will launch a mobile shopping platform for its Portuguese market powered by Grability technology. Since launching Grability in December 2014 for the Spanish retail market, El Cortes Inglés says it has experienced a surge in mobile grocery sales, as well as customer enthusiasm for the new platform.

According to El Corte Inglés executives, Grability has also helped position the company as the most innovative online grocer in the countries it operates.