Retail Roundup: Wal-Mart Settles Suit for $54 Million, Kohl's Plans Deal With MUDD, More

Wal-Mart paying $54 million to settle wages suit --- Wal-Mart Stores Inc. agreed to pay $54.3 million to settle a lawsuit over wages after a Minnesota judge determined that the company broke state laws by requiring employees to work off-the-clock. The plaintiffs represent about 100,000 current and former employees of the world's largest retailer, all of whom worked for the chain over the past 10 years. Apparently, the company required workers to toil off-the-clock during training and denied full rest or meal breaks, violating state law. The $54 million agreement prevents the case from being brought before a jury, which would have been asked to order Wal-Mart to pay as much as $2 billion. The lawsuit is just one of 70 cases in which Wal-Mart has been accused of wage-law violations. [Source: Bloomberg.com]

Kohl's plans contract with Iconix --- Kohl's is expected to announce today a multi-year licensing agreement with Iconix Brand Group Inc. to exclusively carry MUDD apparel and accessories for juniors. The pair of companies plans to expand the 13-year-old line, which is currently also being sold at Kohl's rival department stores, including J.C. Penney Co. and Bon-Ton. New products, such as dorm bedding, are on the horizon for the line, which targets teens and centers on jeans. Iconix CEO Neil Cole said his company feels it can do more business within the 1,000 Kohl's stores peppering the nation than it could do with the 3,000 to 4,000 total stores in which MUDD merchandise is presently sold. [Source: Heard on the Runway]

E-commerce gives Macy's boost but can't lift company out of hole -- Web sales have been a bright spot in an otherwise dreary year for Macy's Inc. as e-commerce continues to flourish despite declines in other channels. The retailer's online sales grew by 22.7 percent in the third quarter, while total year-over-year sales dropped by 7 percent, and comparable store sales fell 6 percent. For the third quarter, the famed department-store chain posted a net loss of $44 million on total revenue of $5.49 billion, a stark contrast from 2007 when the company's net income topped $33 million on sales of $5.90 billion. Trying to move forward, the company is focusing on keeping its e-commerce sites fresh: Speedier check-outs, updated style guides, and a "Find It in the Store" application have kept customers flocking to the chain's Bloomingdales and Macy's sites. [Source: internetretailer]

McGrady named new CEO of Retail Ventures --- Retail Ventures Inc. announced this week that CFO Jim McGrady will be promoted to the company's top slot when current CEO Heywood Wilansky leaves early next year. The Columbus-based retailer runs the Filene's Basement chain and holds a majority stake in DSW Inc.; it recorded $51.4 million in profit on $1.87 billion in revenue for 2007. [Source: Columbus Business First]