14 Macy’s stores begin 24-hour open period before Christmas
New York City – Macy’s Inc. said Monday that 14 of its stores, including Herald Square and Queens Center in New York, will remain open 24-hours-a-day until Christmas.
The extended hours begin on Tuesday, Dec. 21.
The stores, which are located in New York, New Jersey, Illinois, Virginia, Michigan and Minnesota, will be joined by another slate of nine stores that will stay open until 2 a.m., located in New York, New Jersey, California and Massachusetts.
“Our stores are destinations in cities and malls across the country, and by reworking our schedule to fit shoppers’ needs, we feel we are making the holidays less hectic and more enjoyable for both our customers and associates,” said Ron Klein, chief stores officer, Macy’s Inc.
In 2006, Macy’s Queens Center store was the first Macy’s store to be open for 24 hours. Macy’s added additional store locations the following years. For the 2010 holiday season, Macy’s added two new 24-hour stores in Chicago at its Oakbrook and Orland Square locations, as well as five new locations with extended store hours including Palisades Center in New York, South Shore Plaza in Massachusetts and Downey, Glendale and Northridge in California.
Sidney Kimmel to become non-executive chairman of Jones Group
New York City — The Jones Group said Thursday that its founder and chairman Sidney Kimmel will serve as non-executive chairman, effective Jan. 1.
The transition from executive chairman will mark the end of the 40th year since Kimmel founded the company, according to Jones Group.
Judge blocks former Wal-Mart exec from CVS job
Woonsocket, R.I. — A Delaware judge on Wednesday barred a former top executive for Wal-Mart Stores from taking a job as president of CVS Caremark Corp. until a trial is held on Wal-Mart’s claim that the executive signed a noncompete agreement that prevents him from working for CVS. The trial is scheduled for early March.
Vice-chancellor J. Travis Laster granted Wal-Mart’s request for a preliminary injunction following a hearing, which the nation’s largest retailer argued that Hank Mullany possessed confidential Wal-Mart information that CVS, a competitor, could use to its advantage.
CVS announced earlier this month that it had hired Mullany, who until last month was president of Wal-Mart’s Northern U.S. business.
Wal-Mart then sued CVS and Mullany, saying Mullany had signed a contract with Wal-Mart that forbids him from working for a competing company for at least two years.
According to Laster, CVS and Mullany took a calculated risk when entering into their employment agreement that Wal-Mart would not seek to enforce the noncompete agreement Mullany signed when he was promoted last January to president of Wal-Mart North.
The judge ruled that the scope and duration of the noncompete agreement appeared reasonable, and that Mullany, an experienced executive who consulted an attorney before signing the employment contract with Wal-Mart, should have know what he was doing.
Laster rejected CVS’s argument that it should not be considered a competitor of Wal-Mart, and that the noncompete agreement should not be enforced because Mullany did not work directly for Wal-Mart’s pharmacy business.
He said it was simply a "common-sense notion" that Wal-Mart and CVS, compete in the pharmacy sector, particularly when both are trying to expand and Wal-Mart is planning "small format" stores.
Lawrence Portnoy, an attorney for CVS, said that Mullany did not have any knowledge that would prove useful in the chain’s battling Wal-Mart’s small-format initiative.
"Whatever Mr. Mullany knew about small format, it’s old and cold already," Portnoy said, adding that CVS hired Mullany not for his knowledge about the pharmacy business, but for his general management experience.
But Laster noted that CVS and Wal-Mart were on "a collision course," and that Mullany was the executive sponsor of Wal-Mart’s small-format initiative.