November 6, 2008 9:14 PM
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Retail Roundup: Talbots to sell J. Jill, Employee Free Choice Act, and More
(MoneyWatch) Talbots ready to sell J. Jill -- Talbots Inc. is putting J. Jill up for sale, according to the company's third-quarter earnings announcement. Talbots acquired J. Jill in a $517 million deal in early 2006, a time in which Talbots had aspirations of creating a massive multi-channel brand of women's apparel and accessories. "In light of the current macro-economic environment, we therefore feel it is a strong move to focus solely on executing the successful turnaround of our core brand," says Talbots CEO Trudy F. Sullivan. [Source: internetretailer]
Retail groups to lobby against bill --- Barack Obama's win, coupled with a Democrat-controlled Congress, could mean a struggle on Capital Hill next year for retailers prepared to fight legislation that would make unionizing workers easier. If passed, the labor-backed Employee Free Choice Act, co-sponsored by Obama and opposed by John McCain, would allow labor organizations to unionize workplaces without secret-ballot elections. The measure was approved in the House of Representatives last year but was left stalled in the Senate; it could be up for a vote again in the Senate as early as February. "The issue is not whether unions have a place, but how employees go about choosing whether or not to join the union," said Rob Green of the NRF. "This is bad competitively." [Source: BusinessWeek]
Saks closes 'tween' chain -- Like many retailers refocusing their efforts on their core businesses, Saks Inc. is closing its Club Libby Lu "tween" specialty store business because the chain no longer fits in Saks' strategic model. Club Libby Lu isn't the first company Saks trimmed in efforts to focus on its namesake business: It sold its Parisian and Profitt's/McRae's businesses to Belk Inc. and its Northern Department Store Group to The Bon-Ton Stores Inc. [Source: DNR]
Retail groups to lobby against bill --- Barack Obama's win, coupled with a Democrat-controlled Congress, could mean a struggle on Capital Hill next year for retailers prepared to fight legislation that would make unionizing workers easier. If passed, the labor-backed Employee Free Choice Act, co-sponsored by Obama and opposed by John McCain, would allow labor organizations to unionize workplaces without secret-ballot elections. The measure was approved in the House of Representatives last year but was left stalled in the Senate; it could be up for a vote again in the Senate as early as February. "The issue is not whether unions have a place, but how employees go about choosing whether or not to join the union," said Rob Green of the NRF. "This is bad competitively." [Source: BusinessWeek]
Saks closes 'tween' chain -- Like many retailers refocusing their efforts on their core businesses, Saks Inc. is closing its Club Libby Lu "tween" specialty store business because the chain no longer fits in Saks' strategic model. Club Libby Lu isn't the first company Saks trimmed in efforts to focus on its namesake business: It sold its Parisian and Profitt's/McRae's businesses to Belk Inc. and its Northern Department Store Group to The Bon-Ton Stores Inc. [Source: DNR]
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