Management
July 1, 2015 at 2:45 pm
Donna Karan is stepping down from her post as chief designer of Donna Karan International (DKI). The company announced on Tuesday that Karan made "a personal decision to step down from her day-to-day responsibilities" at her namesake brand. She'll shift her focus to Urban Zen, a standalone project she founded in 2007 that sells apparel, accessories,…
July 1, 2015 at 2:20 pm
Nike co-founder Phil Knight said on Tuesday that he's stepping down as the sports gear giant’s chairman next year. Knight, 77, wants to stay involved with Nike after he steps down as chairman. The iconic businessman will transfer ownership of his shares in the company to a limited liability entity, Nike said in a statement.…
June 30, 2015 at 2:17 pm
President Obama announced Monday night a rule change that would make millions more Americans eligible for overtime pay. The rule would raise the salary threshold below which workers automatically qualify for time-and-a-half overtime wages to $50,440 a year from $23,660, according to an op-ed article by the president in The Huffington Post. The administration has…
June 30, 2015 at 2:03 pm
Nearly 700,000 people have signed a petition calling on Macy's to fire Donald Trump. NBC cut ties with Trump for calling Mexican immigrants rapists and drug runners. Those comments stemmed from a speech in which he announced his intention to run for president. Now, some consumers argue Macy's should follow suit and dump the businessman.…
June 29, 2015 at 1:56 pm
bebe stores is in the midst of a turnaround plan to get the women's apparel retailer back on track with a laser-like focus on who its customer is and the kind of clothing she's looking to buy. "There have been paradigm shits within the company and they didn’t work," said CEO Jim Wiggett. "So what…
June 26, 2015 at 3:08 pm
Kathee Tesija, who rose from an entry-level analyst job to become the chief shaper of Target Corp.’s style and decider of all the things it sells, is leaving in the highest-level executive change since a new leader arrived 10 months ago. Tesija is ending a 29-year career with the Minneapolis-based retailer, the past seven as…
June 26, 2015 at 3:00 pm
Abercrombie & Fitch agreed to pay more than $158,000 and be monitored for two years as part of a settlement agreement with the U.S. Department of Justice over allegations that it discriminated against a non-U.S. citizen when it required her to present a green card. The Columbus, Ohio-based company agreed to pay the woman $3,661…
June 26, 2015 at 2:52 pm
The Retail Industry Leaders Association (RILA) is calling on Congress to make “much needed” changes to the Affordable Care Act (ACA). The move comes in response to the Supreme Court of the United States’ ruling Thursday upholding subsidies provided through ACA.
June 25, 2015 at 2:53 pm
Ikea will boost its minimum wage to $10 per hour next year, the company said Wednesday. The company's new $10 minimum will be a 15 percent hike from existing pay, while some workers will make more than $14 an hour. Ikea's wages vary from store to store depending on the local cost of living, thanks…
June 24, 2015 at 1:27 pm
Cosmetics and fragrance maker Coty said its interim CEO will continue in that role, and Elio Leoni Sceti, who was slated to become its CEO in about a week, won't be joining the company. The company says it will pay Leoni Sceti $1.8 million in severance and buy back preferred stock he had bought. Chairman…
