Mass Merchant

The nation’s two leading retail associations issued critical statements in response the release of the overtime rule by the U.S. Department of Labor. Under the new regulation, issued by the Labor Department on Wednesday, most salaried workers earning up to $47,476 a year must receive time-and-a-half overtime pay when they work more than 40 hours during a week. The previous cutoff for overtime pay, set back in 2004, was $23,660.

While other retailers make news by posting grim first quarter results and closing stores., the nation’s leading off-price retailer is making headlines by doing just the opposite. Amid strong first quarter results that included a 7% rise in same-store sales, TJX Cos. said it plans to open about 150 more stores during the rest of this year, on top of the 47 stores it opened in its first quarter.

Speaking at his company’s annual shareholders meeting, Amazon CEO Jeff Bezos said the online giant will open more stores—but he didn’t specify when, according to the Seattle Times.

The Manhattan Village Shopping Center in Los Angeles County serves some of the nation’s wealthiest zip codes which explains why JLL is leading a $150 million investment in a redesign and expansion of the mixed use center. The planned multi-phased renovation will bring new life to the 573,000-sq.-ft. shopping and dining destination that occupies 44 acres and serves the South Bay cities and Silicon Beach areas of Los Angeles County, according to JLL.

Target on Tuesday announced the hire of Mark Tritton as EVP and chief merchandising officer. In this role, Tritton will oversee enterprise buying, product design and development, sourcing, visual merchandising strategy and merchandising transformation and operations for the retailer.

Tanger Factory Outlet Centers operates, owns or has an ownership interest in 42 shopping centers nationwide that encompass 14.3 million square feet. The company’s centers are home to more than 3,000 stores operated by 470 different retailers, which affords Tanger President and CEO Steve Tanger a unique vantage point on the retail industry. He spoke recently with Chain Store Age about the outlet shopping industry his father pioneered 35 years ago.

Veteran Bon-Ton Stores executive Michael Ricart has joined value-priced department store chain Gordman’s Stores as senior vice president of stores.

McKesson and Walmart on Monday announced a new generics sourcing agreement Monday alongside and extended distribution contract between the two companies. In a move aimed at improving value and scale for both parties, the agreement will see Walmart and McKesson jointly sourcing generics for their U.S. operations.