FINANCE

Jones Group considering sale of denim division

BY Staff Writer

New York City — Apparel manufacturer and retailer The Jones Group confirmed Tuesday that it is in discussions to divest its jeanswear division for between $350 million to $400 million.

The potential buyer is Israeli clothing maker Delta Galil Industries.

Jones Group, whose brands include Anne Klein and Nine West, said talks should conclude within a month, but cautioned that no deal has been reached. If the two were to reach a deal, Jones said it would use net proceeds for share repurchases.

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STORE SPACES

Food Lion receives LEED Silver certification for two stores

BY Staff Writer

Salisbury, N.C. — Food Lion said Tuesday that two of its stores in Fayetteville, N.C., have been awarded Leadership in Energy and Environmental Design Silver certifications by the U.S. Green Building Council.

The green grocery stores feature a number of environmentally friendly construction and energy-efficient services, including an on-site recycling center, an educational kiosk and preferred parking for carpool vehicles.

"At Food Lion, we are committed to protecting the environment and reducing energy consumption through green building construction, and we are especially proud to have received this recognition," said Kyle Mitchell, VP of store development for Delhaize America South. "We are honored to be recognized for these efforts and look forward to identifying other opportunities to build LEED stores and continuing to further reduce our energy consumption."

In 2010, the company opened its first LEED certified grocery store in Columbia, S.C., and the Columbia store has since also received the silver level of certification.

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OPERATIONS

Kronos report: Retail hiring highest since end of recession

BY Katherine Boccaccio

Chelmsford, Mass. — A report released Tuesday by Kronos said that the retail hiring levels have reached the highest mark in nearly three years. The Kronos Retail Labor Index, which characterizes the current state of the demand and supply sides of the labor market within the U.S. retail sector, rose to 3.9% in September, reflecting a strong gain in hires and a modest decline in applications, all on a seasonally adjusted basis. (A level of 3.0% means that for every 100 applications received, three hires occurred).

“Underlying the increase in the Index was a strong gain in retail hiring, which posted a 12.6% increase from August to September, to 38,252 hires, the highest level in nearly three years,” said Chris Varvares, senior managing director and co-founder, Macroeconomic Advisers.

“The recent sharp uptick in hiring, coupled with a rise in monthly applications since earlier this year, suggests that retail labor market activity is picking up," he added.

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