FINANCE

Older Retail Employees More Satisfied with Customer Interaction

BY CSA STAFF

Fenton, Minn., Who makes the best salesperson?

Older employees win because they spend the most time with a customer, according to a study released by Maritz Research.

Overall, 72% of retail employees enjoy customer interactions. But that satisfaction level drops to just 55% among employees between the ages of 16 and 24, while 74% of workers between 35 and 44 years of age claimed they were pleased.

A whopping 83% of those polled between 44 and 64 years old said they enjoyed the time interacting with customers.

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OPERATIONS

Ex-Wal-Mart Exec Pleads Guilty to Fraud

BY CSA STAFF

Fort Smith, Ark., Tom Coughlin, former vice chairman of Wal-Mart Stores, pleaded guilty to fraud and tax charges on Tuesday, admitting that he stole money, gift cards and merchandise from the world’s largest retailer.

Coughlin, 57, faces a maximum of 28 years in prison after pleading guilty to five counts of wire fraud and one count of filing a false tax return. He also could be fined $1.35 million. The judge ordered a presentencing report that will take up to 14 weeks to prepare. In documents filed with the court, Coughlin specifically admitted defrauding the company to pay for the care of his hunting dogs, lease a private hunting area, upgrade his pickup truck, buy liquor and a cooler, and receive $3,100 in cash.

The former executive said his guilty plea was in the best interest of his family, friends and community.

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OPERATIONS

Boscov’s Inc. Chairman, President Announce Retirement

BY CSA STAFF

New York City, Boscov’s Inc. chairman Edwin Lakin and president Albert Boscov announced their retirements Monday from the $1.1 billion retail company. Boscov, 76, is the son of Solomon Boscov, a Russian immigrant who founded the chain in 1911 by selling goods from a horse-drawn wagon.

Ken Lakin, the son of Edwin Lakin and nephew of Albert Boscov, who has been running the department stores as CEO, was named chairman and CEO of the corporation, the holding company for the department stores.

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