Legal
May 31, 2017 at 10:19 am
After seeking bankruptcy protection in April, Payless ShoeSource is preparing to launch a second round of store closings. The footwear retailer is seeking court approval to trim its retail business by closing up to 408 stores if negotiations with landlords fail to result in rent concessions. Payless is asking to close 112 stores outright, and…
May 26, 2017 at 9:40 am
On Tuesday, Brian Cornell, CEO of Target, testified against what has been dubbed the border adjustment tax (BAT) to the House tax-writing committee, as many large retailers are leery of a tax on the thousands of products they import from foreign markets. The proposed 20 percent tax on imported goods has been touted as a…
May 24, 2017 at 10:24 am
Target Corp. will pay 47 states and the District of Columbia a total of $18.5 million as part of a settlement over its 2013 data breach. The breach compromised tens of millions of customers’ credit and debit cards, and led to the resignation of longtime CEO Gregg Steinhafel. As part of the settlement, Target will…
May 19, 2017 at 10:39 am
The National Retail Federation (NRF) told Congress yesterday it should reject a proposed $1 trillion border adjustment tax (BAT) that it said would drive up prices for consumers and cost the economy jobs. In a letter to the House Ways and Means Committee, which held the hearing yesterday, NRF Senior Vice President for Government Relations David…
May 17, 2017 at 12:17 pm
Sears is preparing to file a lawsuit to stop one of its top product suppliers, One World Technologies, from restricting its supply of Craftsman power tools. One World recently threatened to back out of its contract with Sears, citing concerns about the retailer's ability to pay for merchandise, unless Sears agreed to cut back its…
May 16, 2017 at 11:11 am
Teen clothing retailer Rue21 has filed for Chapter 11 bankruptcy protection in a Pennsylvania court. Rue21 said it has entered into agreements with some of its lenders to reduce its debt and provide additional capital in support of its restructuring. The company, which operates more than 1,100 stores and has listed its assets and liabilities…
May 16, 2017 at 10:50 am
Wal-Mart is being sued for both allegedly denying health benefits to same-sex spouses of employees as well as rejecting pregnant employees’ requests to limit heavy lifting, climbing on ladders, and other potentially dangerous tasks. In the former suit, an employee in Massachusetts (where same-sex marriage has been legally recognized since 2004) attempted to add her…
May 15, 2017 at 10:19 am
A federal judge has ordered Wal-Mart Stores Inc. CEO Douglas McMillon to submit to questioning in a lawsuit by shareholders hoping to learn what he knows about suspected bribery by the world's largest retailer in Mexico. U.S. District Judge Susan Hickey in Fayetteville, Arkansas, said McMillon's "direct and personal involvement" in matters underlying a class-action lawsuit…
May 12, 2017 at 11:11 am
Welcome to another episode of Retail Right Now! Big news in the retail industry this week includes Coach's acquisition of Kate Spade, Forever 21 and Rue 21 being accused of stealing an indie brand's designs, and Amazon.com lowering its free shipping minimum to $25.
May 11, 2017 at 10:46 am
Wal-Mart will be asked to pay $300 million to settle a five-year investigation into foreign bribery activities. TheStreet reports the offer would be a fraction of the $1 billion settlement the Obama administration, the Securities and Exchange Commission, and Justice Department had sought. It's reported that Wal-Mart spent about $840 million on its own internal…
