Wal-Mart has rolled out a policy to ensure that employees who are members of the military won't lose pay while on active duty, whether the assignment is voluntary or involuntary, the company said Tuesday. The retailer will make up the difference in pay between the employee's salary and military pay during military assignments.
Amazon's strong growth and leading role in many areas of retail doesn't mean the 20-year-old company can afford to slow down its innovation efforts, founder and CEO Jeff Bezos said Tuesday. Bezos also addressed issues including efforts to increase diversity at the company and the reasons Amazon took a stand against the Trump administration's proposed travel ban.
IKEA Group has promoted Jesper Brodin, a 22-year veteran of the Sweden-based furniture retailer, to CEO, effective Sept. 1. Brodin succeeds Peter Agnefjall and will continue the company's focus on growing its online efforts, said IKEA Chairman Lars-Johan Jarnheimer.
Marks & Spencer Group has adopted a new strategy with its fall/winter fashion line. The UK retailer has shifted from its tradition of highlighting a single standout piece in favor of a collection of basics the retailer hopes will fit into shoppers' existing wardrobes.
Dubai remains the top global market for luxury shopping, according to American Express data, but several trends have led to a softening. Luxury sales in the Middle East dipped last year, as wealthy consumers shifted some spending to experiences and grew more savvy about seeking lower prices in other global markets.
Nordstrom has named TaskRabbit CEO Stacy Brown-Philpot to its board of directors. Brown-Philpot brings experience from the tech world as the upscale department store focuses on its growing online and omnichannel efforts.
Macy's has expanded a self-serve model in its shoe department to three Chicago stores and it expects to roll out the change to all stores by July. Associates will still be on hand to help shoe shoppers, but the new setup gives customers the option of bypassing help, and early tests in select markets led to higher shoe sales, Chief Financial Officer Karen Hoguet said.
A new crop of French designers is creating accessible versions of the couture that has long appealed to American fashionistas. Brands including Rouje, Sezane, and Miaou are rapidly winning fans in the US with frilled blouses, nautical jeans and other styles.
Westroads Mall in Omaha, Neb., is boasting record sales and occupancy rates after investing in remodels and other changes to keep up with changing consumer tastes, said Jim Sadler, senior general manager. Other malls are also faring well -- first-quarter vacancy rates at centers in big US cities stayed steady at 4.9%, according to JLL and CoStar Group.
A proposed border adjustment tax on imports would increase Target's tax rate to 75% and increase consumer prices on essential products by 20%, Target CEO Brian Cornell said in front of the House Ways and Means Committee Tuesday. Former Wal-Mart CEO William Simon argued in favor of the tax to boost US manufacturing, but suggested an extended phase-in period as a safety net for retailers.
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