Corporate Governance

San Bruno, Calif. -- Walmart announced it is opening two new warehouses dedicated to filling online orders, one in Fort Worth, Texas, and one in Bethlehem, Pa., which will be its largest center to date. The new facilities are part of a next-generation fulfillment network that the retailer said will deliver U.S. customer orders faster and at a lower cost.

Rochester, N.Y. - Teamsters Local 118 members on Monday overwhelmingly rejected a contract offer from Wegmans Food Markets, Inc. that would eliminate the pensions of more than 900 Rochester employees and not provide health care for their spouses. Local 118 will immediately request the participation of the Federal Mediation and Conciliation Service to settle the outstanding contract.

Dallas – Neiman Marcus Group is offering free standard shipping and returns for all domestic purchases made online through Neimanmarcus.com and Bergdorfgoodman.com as well as Neiman Marcus and Bergdorf Goodman stores.

"The customer has always been at the center of the Neiman Marcus business model. Permanent free shipping and returns have been a top request and we are happy to be able to make this change just in time for the holiday shopping season." said Wanda Gierhart, chief marketing officer, Neiman Marcus Group.

New York – At least four law firms have launched investigations of Lumber Liquidators Holdings, Inc. following a raid by federal agencies on Lumber Liquidators’ Virginia offices in connection with the importation of certain wood-flooring products. The law firms of Pomerantz Grossman Hufford Dahlstrom & Gross LLP, Bronstein, Gewirtz & Grossman, LLC, The Shuman Law Firm, and Wohl & Fruchter LLP are all investigating whether Lumber Liquidators has committed federal securities violations.

New York -- Steven Newman, CEO of Loehmann’s, will appear on CBS's popular television show, "Undercover Boss," on Friday, Oct. 4 (8 p.m.-9 p.m., ET/PT).

The executive of the original off-price retail chain, with 39 stores in 11 states, went undercover in a few stores around the country in a variety of roles, including order processing at the Loehmann's distribution center, visual merchandising, personal shopper, and sales associate.
 

After more than 50 years in business, JC's 5 Star Outlet/J.C. Penney Outlet will be closing all 15 outlet stores in 14 states. 

"Going Out of Business" or "Total Inventory Blowout" sales will start Wednesday in each outlet store, offering consumers $70 million worth of name brand and private label products at significant discounts from the already low outlet prices of 25-75% off comparative retail.

New York -- American Realty Capital – Retail Centers of America, Inc. ("ARC Retail") closed its acquisition of the Tiffany Springs MarketCenter, located in Kansas City, Mo., on Sept. 26, for a contract price of $53.5 million, exclusive of closing costs. The purchase of the Tiffany Springs MarketCenter represents ARC Retail's third acquisition of a retail power center with multiple credit tenants.

Amazon is getting ready for the holiday shopping rush and creating more than 70,000 full-time seasonal jobs across its U.S. fulfillment centers to meet an increase in customer demand — a 40% increase over last year’s seasonal hires. 

In 2012, Amazon converted thousands of seasonal employees into regular, full-time roles after the holidays, and expects to do the same this year. On average, seasonal employees earn 94% of Amazon fulfillment center employee starting wages and are eligible for health care benefits.