Legal
July 18, 2019 at 2:42 pm
Barneys New York may join the list of retail stores filing for bankruptcy, according to CBS News. The luxury department store is considering its options, including bankruptcy, due to high rents and a changing consumer landscape. Most of Barneys' stores are in prestigious neighborhoods in cities like Boston, New York and Los Angeles, and rent prices at…
July 3, 2019 at 11:39 am
In a letter sent to the Federal Trade Commission on June 30, the Retail Industry Leaders Association (RILA) voiced its support for the FTC's antitrust probes of Amazon.com and other large technology companies, reports Footwear News. RILA's member organizations include big-box retailers (and perhaps not coincidentally, Amazon competitors) Walmart, Target, Gap, Best Buy, and many other…
May 30, 2019 at 9:52 am
The global cannabis market could be worth $32 billion by 2022, and consequently presents huge opportunities for retailers. While the transition from prohibition presents huge opportunities, it also presents huge challenges. BDS Analytics commented that 2018 was a year of "constantly diminishing forecasts," as retailers struggled to compete against the black market in a heavily…
May 22, 2019 at 1:08 pm
Truthinadvertising.org (TINA.org) filed a complaint Tuesday to the Federal Trade Commission (FTC) against Williams-Sonoma Inc. over deceptive Made in USA marketing statements, according to a press release. The complaint alleges that hundreds of statements found in Williams-Sonoma brands’ marketing materials are deceptive in nature, claiming products are made or crafted in the USA "despite the…
April 19, 2019 at 1:11 pm
Sears on Thursday filed a lawsuit against its former CEO Eddie Lampert and a number of its high-profile past board members, including Treasury Secretary Steven Mnuchin, for allegedly stealing billions of dollars from the retailer. Sears Holdings filed for bankruptcy this past October, after years of losses under Lampert, who was then its chairman, CEO and largest shareholder.…
March 27, 2019 at 12:50 pm
FashionPass, an Los Angeles-based fashion rental business, filed a lawsuit Tuesday against fashion rental service leader Rent the Runway, reports Footwear News. The suit alleges Rent the Runway "embarked upon a wrongful, anti-competitive scheme and conspiracy to eliminate competition from FashionPass, rather than fairly competing against FashionPass in the marketplace," according to an email sent…
March 26, 2019 at 9:46 am
A lawsuit against Amazon.com-owned Zappos will continue after the U.S. Supreme Court rejected an appeal from the online shoe retailer in a seven-year-old data breach case. In the wake of a 2012 data breach that exposed the names, addresses, phone numbers and more of 24 million customers, Zappos faced several lawsuits from customers. Zappos argued unsuccessfully…
March 6, 2019 at 5:46 pm
Denim and accessory brand Diesel USA Inc. filed for Chapter 11 bankruptcy Tuesday, reports Reuters. The company's Italian parent brand Diesel SpA was not involved in the bankruptcy filing. Diesel USA claimed expensive leases, a sales plunge, and $1.2 million of losses from theft and cyber fraud as main contributors to the decline of profitability…
February 19, 2019 at 7:48 pm
Following a successful holiday season in 2018, the retail industry was immediately shaken by the longest-lasting government shutdown in U.S. history. Initially, some thought the impact would only affect the first financial quarter, however, as the shutdown lingered, the impact could be felt through the rest of 2019. The federal government shutdown cost the economy…
February 18, 2019 at 2:26 pm
Amazon.com, the e-commerce giant helmed by Jeff Bezos, the world’s richest man, paid no federal taxes on profit of $11.2 billion last year, according to an analysis of the company’s corporate filings by the Institute for Taxation and Economic Policy (ITEP), a progressive think tank. The news of the report was first publicly reported in The Washington Post,…
