Legal

NRF Security Survey: Shrinkage on the Rise
June 20, 2011

Growth in retail crime and fraud is leaving retailers racing to stop the individuals responsible for stealing billions of dollars each year. Preliminary results of the latest National Retail Security Survey, released at the National Retail Federation’s Loss Prevention Conference and EXPO, show that retail shrinkage increased to 1.58 percent of retail sales in 2010, up from 1.44 percent in 2009.

Macy's Strike Avoided, Union Reaches Deal
June 17, 2011

Macy's workers will remain on the job after the retail giant reached a tentative deal with its union Thursday morning after a marathon bargaining session. "Following an all-night negotiating session, Macy's is pleased to have reached a tentative agreement with Local 1-S of the RWDSU on a new five-year agreement," Macy's spokeswoman Elina Kazan said in a statement.

Borders Avoids Some Closings
June 17, 2011

Borders, the bankrupt bookstore chain, has reached agreements with landlords to extend leases on 11 stores it had listed for possible closure, and it said it's in talks with creditors that could delay any going-out-of-business sales.

Fraud Cost Retailers $37.1B in 2010
June 17, 2011

Retail crime and fraud continue to cost retailers more money every year, according to a new survey released at this week's National Retail Federation Loss Prevention Conference and EXPO. The survey, jointly conducted by the NRF and the University of Florida, revealed total retail losses cost retailers $37.1 billion last year, up from $33.5 billion in 2009.

Texas Passes Sales Tax Bill in Support of E-Commerce Retailers
June 13, 2011

The Texas legislature has acted to do away with any question that the mere use of a web-hosting company with a server in Texas might result in a Texas sales tax collection obligation. Both houses passed a bill that's now headed to Gov. Rick Perry, who's expected to sign it into law.

Signature Styles Files for Bankruptcy
June 10, 2011

Catalog and internet retailer Signature Styles — owner of Spiegel, Newport News and Shape Fx — filed for bankruptcy in a Delaware court this week. The company listed assets in the $10 million to $50 million range and debt in the $50 million to $100 million range in its Chapter 11 petition. Signature Styles Gift Cards, an affiliate brand, was also included in the bankruptcy filing.

NRF Calls Swipe Fee Vote Victory for American Consumers
June 9, 2011

Matthew Shay, president and CEO of the National Retail Federation, issued a statement in which he called the Senate rejection of the Tester-Corker amendment to delay swipe fee reform, "a landmark victory for American consumers."

Walgreens Finishes Acquisition of drugstore.com
June 7, 2011

Walgreens announced it's completed the acquisition of drugstore.com. The transaction includes all websites directly owned and operated by drugstore.com, as well as its corporate office and customer service and distribution center operations.