Ivanka Trump opening store in her father’s namesake building
The Ivanka Trump brand is making its second foray into freestanding retail.
The company will open a location in Trump Tower on Manhattan’s Fifth Avenue this fall, giving the tourists who visit the site a chance to buy Ivanka Trump-branded merchandise, Bloomberg reported.
The brand previously had a jewelry shop in Manhattan, which closed in 2015. It also shuttered its only other location, a luxury shop in Beijing.
A sign in the lobby of the Trump Tower announces the coming store with a floral design fashioned in Ivanka Trump’s signature pink.
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Strong online growth helps Nordstrom top Q2 estimates
Nordstrom on Thursday reported positive results for its second quarter amid ongoing discussions of a possible buyout.
The upscale department store retailer reported that total net sales increased 3.5% to $3.79 billion in the quarter ended July 29, compared to a forecast for $3.75 billion. Total company same-store sales rose 1.7%, also better than expected.
In the Nordstrom brand, including U.S. and Canada full-line stores and Nordstrom.com, net sales when combined with Trunk Club, increased 2.4% and comparable sales increased 1.4%.
The top-performing merchandise categories were women's apparel and beauty, and the East was the top-ranking U.S. geographic region. The company noted that its Anniversary Sale, historically its largest event of the year, performed better than recent trends.
In the Nordstrom Rack brand, which consists of Nordstrom Rack stores and Nordstromrack.com/HauteLook, net sales increased 9.8% and comparable sales increased 3.1%.
Online sales grew 20% at Nordstrom.com, and 27% at Nordstromrack.com/HauteLook.
Net income fell to $110 million, or 65 cents per share, in the quarter, from $117 million, or 67 cents per share, in the year-ago period. Its results were just slightly ahead of estimates.
Nordstrom slightly raised its full-year earnings forecast to $2.85-$3 per share from $2.75 – $3 per share, and said it now expected net sales for the year to increase about 4% instead of 3% – 4%.
New Oregon law impacts employee scheduling in stores
Oregon has become the first state in the nation to pass legislation that puts an end to on-call scheduling by guaranteeing hourly employees advance notice of their work schedules.
Oregon Gov. Kate Brown has signed into law the Fair Work Week Act, which imposes predictive scheduling requirements on large employers in certain industries, including retail and food service. Most provisions of the law will take effect on July 1, 2018.
The Oregon legislation comes on the heels of similar measures that have been enacted in such major cities as New York, Seattle, and San Francisco.
The law applies to Oregon employers that employ 500 or more employees worldwide who provide services relating to “retail trade,” “hotels,” “motels,” or “food services." It requires these employers to give hourly workers at least seven days advance notice of their work shifts. In three years, the lead time is extended to 14 days.
Employers also have to pay additional compensation for any violation of the advance notice requirement (to be calculated based on the type of schedule change) and provide a minimum of 10 hours of rest between shifts, or pay the employee time and a half.
For more on the bill, click here.