News

Investors in Target Corp. decided on several important issues at the retailer’s 2016 annual meeting.

Shareholders elected 14 members of the board of directors, ratified the appointment of Target’s independent registered public accounting firm, approved proposal on compensation for executives and rejected one shareholder proposal.

The National Retail Federation (NRF) is pleased so far with how many members of the House and Senate have reacted to the proposed new Labor Department rule that would expand overtime eligibility for employees.

David French, senior VP for government relations, NRF, released the following statement on the hearing by the House Education and Workforce Committee on the proposed rule:

Bob Dylan sang “The Times They Are A Changin’” more than 50 years ago, but the sentiment is very current in the world of digital commerce.

Another day, another finance chief at a well-known retailer is leaving.

Jane Hamilton Nielsen, CFO at Coach Inc., will be departing the company to pursue another opportunity. In order to facilitate a smooth transition, Nielsen is expected to stay into August 2016. The company is commencing a search for her permanent successor with Crist Kolder Associates. Andrea Shaw Resnick, global head of investor relations and corporate communications, will be appointed interim CFO until a permanent appointment is made.

When it comes to customer experience, not all grocery chains are created equal.
 
According to the new Customer Quotient (CQ) survey from global customer intelligence agency C Space, Trader Joe’s is the most customer-centric grocer. Conversely, Shaw’s scored the lowest of 27 options.
 

The SouthBay Pavilion Center in Carson, California, is getting a little bigger.
 
KTGY Architecture + Planning has unveiled the design for Vintage Real Estate’s retailer expansion at SouthBay Pavilion, a 1.2 million-sq.-ft. enclosed shopping center.  KTGY adapted Forever 21’s F21 RED brand for the new SouthBay Pavilion store, which includes large floor-to-ceiling display window boxes, textured wall treatments and red metal panels.
 

Target is reportedly requesting that many of its suppliers assume up to 3% to 5% more of the cost of promotions and price reductions on some items.

According to Reuters, at least 12 Target suppliers have confirmed they were asked to pay for more of the promotional cost for a variety of slow-moving products. Target reported declining sales in its most recent fiscal quarter and publicly said it would likely enter an extended promotional period.

Fairway Group Holdings Corp., the parent company of Fairway Market, has received a verdict on its May 2016 bankruptcy filing.

The iconic New York food retailer had its Chapter 11 bankruptcy reorganization plan unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles. Fairway is expected to emerge from bankruptcy during the week of June 20, 2016 with approximately $50 million in cash, a $140 million reduction of its debt and a reduction of annual debt service obligations by up to $8 million.

Bob Dylan sang “The Times They Are A Changin’” more than 50 years ago, but the sentiment is very current in the world of digital commerce.

Shoe shoppers know how individual fit can be, and footwear chain DSW Inc. is trying to be as accommodating as possible.
 
DSW is partnering with 3D footwear printing specialist Feetz to create custom fit, sustainably made shoes. Feetz uses a combination of 3D printer technology and human craftspeople to make new pairs of shoes in hours and designed software to custom fit shoe designs to consumers’ feet.