Legal

China said it's fining Wal-Mart and Carrefour stores up to $75,900 for overpricing, expressing concerns about price inflation ahead of the impending Lunar New Year holiday. A statement posted on the National Development and Reform Commission website listed about a dozen stores across the country that engaged in overpricing, noting high charges on items ranging from underwear to dumpling powder.

Michigan retailers took aim at the state's strict item-pricing law, releasing a study that concludes the regulation adds $2.2 billion to retail costs without providing tangible benefits to consumers.

The security of online payment has been put under the spotlight with the news that the Lush.co.uk e-commerce website has been taken down following attacks by hackers. Experts say it seems the site was "riddled with vulnerabilities."

To persuade Amazon.com to build a distribution hub in Tennessee, state and local officials offered a package of economic incentives that included free land, job-training assistance and more than $12 million in property tax breaks.

Four months after Texas officials told Amazon.com Inc. that it owes $269 million in uncollected sales taxes, the online retail giant has filed a lawsuit demanding that the comptroller's office release the audit information it used in arriving at that amount.

After more than 30 years as a specialty retailer of casual apparel and accessories for the teenage and young adult markets, Anchor Blue is closing all 117 stores. Store-closing sales began on Jan. 7 and will continue until all merchandise and store fixtures are sold.

J.Crew received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J.Crew agreed to be taken private by the two firms.

Apparel retailer Anchor Blue has filed for Chapter 11 bankruptcy protection for the second time in less than two years. Although the filing is a repeat for the retailer, it's a first for the industry: it's the first bankruptcy filing of 2011.

While Barnes & Noble touts stellar holiday sales, rival Borders continues to teeter on the verge of a bankruptcy filing. Widespread reports indicate Borders CEO Mike Edwards is meeting with publishers in New York this week to get their sign off on a plan to refinance debt and suspend payments. In response, one major distributor, the National Book Network, said it will suspend book shipments to the retailer. 
 

According to an article published this week by the Federal Bureau of Investigation, organized retail crime, which includes merchandise theft, credit card fraud, gift card fraud and price tag switching, costs the U.S. about $30 billion a year.