Legal

Apple Announces Moves Partially Tied to New Tax Bill
January 19, 2018 at 11:16 am

Apple yesterday announced a sweeping set of moves partially tied to the recent tax bill, including paying $38 billion in taxes from profits made overseas as required by recent changes to the tax law.; creating more than 20,000 new jobs at existing Apple campuses and a new corporate campus it plans to build; and pledging…

Supreme Court Will Review Internet Sales Tax Law
January 15, 2018 at 9:50 am

The U.S. Supreme Court will consider freeing state and local governments to collect billions of dollars in sales taxes from online retailers, agreeing to revisit a 26-year-old ruling that has made much of the internet a tax-free zone. Heeding calls from traditional retailers and dozens of states, the justices said they will hear South Dakota’s contention…

Total Retail's Top 3 News Items of 2017
December 22, 2017 at 1:21 pm

What a year it has been for retail! As we count down the days to 2018, the Total Retail team has reflected on the biggest stories that shook up the industry. Below are just three of the top stories we've reported on. 1. Amazon.com's Acquisition of Whole Foods We can't talk about e-commerce or retail…

NRF: Tax Bill a Win for Retailers, Consumers
December 21, 2017 at 2:16 pm

The National Retail Federation (NRF) yesterday praised passage of the Tax Cuts and Jobs Act, the most sweeping change in U.S. tax laws since 1986, as a job-creating measure. The bill includes deep tax cuts for businesses and tax reductions for middle-class consumers, which proponents — including the NRF — say will spur economic growth at a time when…

Calypso St. Barth to Shutter All US Stores, Liquidate Inventory
December 13, 2017 at 1:29 pm

Luxury apparel and accessories retail chain Calypso St. Barth is shuttering all of it U.S. stores and liquidating its remaining inventory. Asset firms Tiger Group and Great American Group are supervising the going-out-of-business sales at the retailer’s 16 stores in New York, Georgia, Massachusetts, Colorado, California, Florida, Arizona, Maryland and South Carolina. The inventory is…

Charming Charlie Files for Bankruptcy Protection
December 12, 2017 at 12:39 pm

Houston-based Charming Charlie filed for Chapter 11 bankruptcy protection on Friday with a plan to revamp operations, reduce debt, and shrink its chain of jewelry and accessories stores in a hotly competitive retail environment. The company said in a news release that it had entered a restructuring support agreement with most of its lenders and shareholders.…

Judge Approves $14M Toys"R"Us Executive Bonus Payout
December 6, 2017 at 12:21 pm

The judge overseeing the Toys"R"Us bankruptcy case ruled Tuesday that the insolvent retailer can pay its 17 top executives $14 million in incentive bonuses. Toys"R"Us, which is based in Wayne, N.J., agreed to trim its original $16 million bonus proposal by $2 million, and to make $5 million of the bonus payout contingent on the company creating…

Starbucks Forced to Keep 77 Failing Teavana Stores Open
December 5, 2017 at 12:43 pm

In the face of record-setting store closures, Simon Property Group is fighting back. An Indiana judge ruled in favor of the Indianapolis-based mall operator Monday, forcing Starbucks to keep 77 failing Teavana stores open and honoring their leases. The Seattle-based coffee chain announced it planned to close all 379 Teavana locations in July. In August, Simon malls…

NRF: Tax Plan Should Boost Consumer Confidence, Help Pay for Holiday Purchases
December 4, 2017 at 12:40 pm

The tax bill passed in the U.S. Senate over the weekend will boost consumer confidence, and savings from the reform could be enough to pay for many families’ holiday shopping, according to the National Retail Federation (NRF). “This vote couldn’t come at a better time,” said Matthew Shay, president and CEO, NRF, in a statement.…

Retailers Urge Senate Passage of Tax Reform Bill
November 30, 2017 at 1:42 pm

Yesterday, the National Retail Federation (NRF) wrote and open letter to the Senate to pass a comprehensive tax reform legislation set for a vote this week (as early as today), saying the measure would create jobs and boost the economy by bringing back investment that has gone overseas while also helping small businesses and consumers.…