News

Retail association calls new overtime laws a “career killer”
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.
L.A.'s Manhattan Village gets major makeover
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.

Women take charge in the retail supply chain

The retail supply chain is one of the most male-dominated areas of the historically male-dominated retail industry, but a growing number of female executives are shifting the paradigm. During the Women in Supply Chain & Technology luncheon held at the recent Manhattan Associates Momentum 2016 conference in Orlando, Florida, three veteran female retail supply chain practitioners discussed the challenges and rewards of their pioneering careers.
Home Depot constructs solid first quarter

Atlanta-based The Home Depot reported first-quarter sales of $22.8 billion during what CEO Craig Menear described as a "stronger than expected start to the year." Comp-store sales for the quarter were up 6.5% - with comps for the U.S. stores up 7.4%. Net earnings for the three months ended May 1 were $1.8 billion, up 14.2% compared with net earnings of $1.6 billion in the same quarter last year.
Help wanted: Francescas seeks CEO

Francesca’s Holdings is looking for a new CEO after the abrupt departure of former Chairman, President and CEO Michael Barnes and weaker than expected first quarter guidance caused the company’s shares to plummet.
Momentum 2016: The supply chain goes digital

The Momentum 2016 conference held by Manhattan Associates May 15-17 in Orlando, Florida offered attendees plenty of insightful sessions and interesting information about how omnichannel commerce is affecting the supply chain. First, let’s review some data points shared by Brendan Witcher, principal analyst, e-business and channel strategy, Forrester Research:
Starbucks goes to the bond market—to raise money for sustainability

Starbucks Corp. has turned to the bond market to fund its sustainable-coffee efforts. The chain issued a $500 million U.S. corporate sustainability bond to fund projtects that will support ethical coffee sourcing. The 10-year, 2.45 percent senior notes, due 2026, will fund programs that ensure coffee is grown and distributed in a way that can be maintained over the long run, such as providing fair pay for workers and protection for wildlife.
Target sales stall in Q1

Target Corp.’s ongoing recovery stalled a bit in the first quarter as the chain joined the list of retailers posting disappointing Q1 sales amid cool, unspring like weather and sluggish retail spending. But it was not all gloom and doom for the discounter, whose online sales continued their upward course and whose profit topped estimates.
Barnes & Noble brings beauty to more colleges

The newest concept in beauty retail is called The Glossary and it is arriving on more college campuses courtesy of Barnes & Noble College.

The Glossary concept was piloted at the Barnes & Noble Emory University and Southern Methodist University bookstores and more recently expanded to the campuses of Tulane University and the College of William & Mary. The newest location set to open in August will be on the campus of the University of California at Riverside.
Smart & Final gets ‘Extra!’ dose of growth

The demise of regional grocer Haggen has been a boon to Smart & Final which grew its store count by more than 10% after acquiring former Haggen locations.

Last December, Smart & Final acquired 33 Haggen lease locations and the company recently announced that it had opened all those locations under its Smart & Final Extra! banner.