REAL ESTATE

Report: Cumberland Farms sells 27 stores

BY Dan Berthiaume

Framingham, Mass. – Cumberland Farms is reportedly selling 27 stores in New Jersey, Delaware, and Pennsylvania, to Petroleum Marketing Group, based in Woodbridge, Va. According to the Boston Globe, the stores will continue to operate as convenience stores and all roughly 600 affected employees are expected to keep their jobs.

Cumberland Farms will focus on its nearly 600 remaining stores in New England, New York, and Florida. Both companies are private and terms were not disclosed.

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FINANCE

Abercrombie & Fitch settles overtime suit

BY Dan Berthiaume

New Albany, Ohio — Abercrombie & Fitch Co. and Abercrombie & Fitch Stores, Inc. have offered to pay about $4,000 to one assistant manager for failing to pay proper overtime wages from May 16, 2010 to present, in connection with a lawsuit filed in the Eastern District of New York. Abercrombie agreed to pay the assistant manager’s attorney’s fees and court costs to be determined by the court.

The claims arose under the Fair Labor Standards Act ("FLSA") and asserted that Abercrombie violated the FLSA by failing to pay Assistant Managers all wages due and owing to them for working more than 40 hours a week. Abercrombie did not pay overtime to the assistant manager at time and one-half, and Plaintiffs alleged that its practice violated the law.

Abercrombie said that the amount offered to the assistant manager includes all overtime wages owed plus liquidated (double) damages, and interest. The full number of Abercrombie assistant managers who were subject to Abercrombie’s pay practice is not known.

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REAL ESTATE

DSW opens two new stores

BY Dan Berthiaume

Columbus, Ohio – DSW Inc. is opening two new stores on March 14. The stores will be located in Schererville, Ind., and Birmingham, Ala.

Customers will be eligible to participate in DSW Rewards, a free loyalty program in which customers earn certificates toward future DSW purchases and receive special member-only offers. Customers can also participate in the Shoe Lover community on Facebook to receive exclusive offers and giveaways.

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