Legislative, Regulatory & Legal

TexturePlus calls on Congress to pass retail and restaurant remodeling legislation
Texture Plus, the largest U.S. manufacturer of high-impact textured faux wall panels, urged the United States Senate and House of Representatives to quickly pass the “Restaurant and Retail Jobs and Growth Act.”

“Retailers and restaurants depend on remodeling their locations every five years to stay competitive,” said Brian Kampe, CEO. “The standard 39 year depreciation for building remodeling makes those improvements a difficult tax burden.”
Lawsuit highlights importance of ADA compliance
Earlier this month, Reebok was hit with a proposed class action alleging that the company’s website violates the Americans with Disabilities Act because it is not accessible to the blind. The plaintiffs argue that Reebok.com contains “thousands of access barriers” that make it difficult — if not impossible — for blind customers to use the site.

WBA to divest as many as 1,000 stores to secure Rite Aid deal approval

The merger agreement between Walgreens Boots Alliance and Rite Aid must be consummated by Oct. 27, 2016, or the deal is off, according to documents filed to the Securities and Exchange Commission on Thursday. That deadline could be extended to Jan. 27, 2017 under some circumstances, according to the document.
Report: Walgreens-Rite Aid deal likely to avoid antitrust issues

Despite concern from smaller pharmacies, Walgreens’ plan to acquire Rite Aid is likely to be approved by the FTC, according to a report by International Business Times. “The location strategies of these two companies have been historically quite different,” said Howard Davidowitz, a New York-based retail consultant.
Commentary: Urban Outfitters Sparks Employment Controversy

There has been a bit of controversy lately regarding Urban Outfitters' recent request that some of their salaried employees “volunteer” to fill normally hourly roles in fulfillment centers and retail outlets. The labor community and their activist friends have been crying foul over what they perceive is the manipulation of salaried junior managers by forcing them to work “hourly” jobs and getting no additional pay or benefits.
Lumber Liquidators pleads guilty, pays fine

A federal investigation related to Lumber Liquidator’s illegal timber trafficking has ended with a guilty plea and some damning statements by prosecutors.
Proposed legislation would limit ADA-related ‘drive-by’ lawsuits

The International Council of Shopping Centers is among the groups endorsing proposed legislation that seeks to limit what it called an “unintended consequence” of the Americans with Disabilities Act.
Abercrombie taps seasoned HR exec to head up diversity efforts

Abercrombie & Fitch continues its efforts to polish its brand image.

The retailer announced that Jeanetta Darno has joined the company as VP of diversity and inclusion in a role that will include “enhancing the existing global diversity and inclusion best practices throughout the organization.”
RCS Real Estate raises close to $2,000,000 for bankrupt Anna's Linens at auction

RCS Real Estate Advisors announced today that it secured almost $2,000,000 at auction for home goods chain Anna's Linens, which filed for Chapter 11 on June 14.
Report: Walmart bribery probe finds no major misconduct in Mexico

The three-year investigation into allegations of misconduct and corruption at Wal-Mart’s operations in Mexico has found few major offenses, Reuters reported.

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Report: American Apparel says it will turn profitable in three years

Bankrupt American Apparel predicts in its reorganization plan that it will turn profitable in 2016, the Los Angeles Times reported. The company also warned that founder and ousted CEO Dov Charney remains a risk to its future. (Los Angeles Times)
Staples board limits senior exec severance packages

Staples is limiting the severance pay of top executives as the resolution of a deal with Office Depot draws near.

Staples announced that its board of directors has adopted a new policy stipulating that the company will not pay any severance benefits that exceed three times the sum of an executive’s base salary plus target annual cash incentive award, without seeking shareholder approval.

In addition, CEO Ron Sargent has elected to amend his severance agreement to align with the terms of the new policy.

Legislative, Regulatory & Legal

TexturePlus calls on Congress to pass retail and restaurant remodeling legislation

Lawsuit highlights importance of ADA compliance

WBA to divest as many as 1,000 stores to secure Rite Aid deal approval

Report: Walgreens-Rite Aid deal likely to avoid antitrust issues

Commentary: Urban Outfitters Sparks Employment Controversy

Lumber Liquidators pleads guilty, pays fine

Proposed legislation would limit ADA-related ‘drive-by’ lawsuits

Abercrombie taps seasoned HR exec to head up diversity efforts

RCS Real Estate raises close to $2,000,000 for bankrupt Anna's Linens at auction

Report: Walmart bribery probe finds no major misconduct in Mexico

Report: American Apparel says it will turn profitable in three years

Staples board limits senior exec severance packages