Category Archives: Law

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Cole & Van Note to investigate data breach at Meyer Corporation, a major cookware distributor

Oakland, CA, USA, 2022-Mar-3 — /EPR RETAIL NEWS/ — Cole & Van Note, a leading consumer rights law firm, announces today its investigation of Meyer Corporation, U.S. on behalf of its consumers/clients, arising out the company’s recent data breach. According to the company, the private information of a massive number of people may have been stolen in the hacking of its information network. It is currently unknown how many people have had their information used for criminal purposes.

If you received a notice of this alarming data breach and/or have transacted in any way with Meyer Corporation, U.S., your information may already be in the hands of cybercriminals, making your urgent attention to this situation very important.

Cole & Van Note is ready to discuss your options and can be contacted at (510) 891-9800, by email at sec@colevannote.com or through its website by clicking below:

Cole & Van Note has been successfully handling consumer and employee rights matters since 1992. The firm has recovered compensation for millions of individuals and stands ready to help you get paid for your losses.

Attorney Advertisement. Our previous results do not guarantee or predict a similar outcome.

SOURCE: EPR Network

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Virgin adds to VIRGINIC case new groundless litigation against 3 more small startups

MIAMI, Florida , U.S.A., 2020-Apr-29 — /EPR Retail News/ — Sir Richard Branson and his Virgin Group do not trade in… Virgins! Furthermore the word ‘virgin’ is itself a common word and an arbitrary one when used in connection to Virgin’s various business pursuits. For context purposes, here’s some more fun with trademarking Apple.

The word itself, Apple, is a common word and contrary to popular belief it is possible to trademark a common word. This is allowed because the word is arbitrary when used in connection to the manufacturer of iPhones and computers etc. Apple doesn’t sell apples, and neither does the Apple Rubber Co and many others who also own the trademark to the word ‘Apple.’ Multiple companies can own the trademark to the same common word, as long as the products they sell aren’t so similar that they cause confusion for consumers.

In spite of being a globally recognized brand, Virgin is currently pursuing a court case against a small online beauty company named VIRGINIC LLC, attempting to force them to close their store and demanding a hand over of their website domains and social media accounts to Virgin Group.

VIRGINIC LLC is a startup with a visionary desire to keep creating chemical-free, allergy-free, raw face cream formulas, for the direct benefit of an organic-minded female consumer. VIRGINIC brand name is to recall beyond-organic level of purity with no chemical additives and a holistic approach to ethical and all natural sourcing. Their production practices are mindful of protecting the planet through sustainable packaging materials and supporting local farming for ingredients sourcing. Yes, they are lovely people with an ethos that we can all support as it’s hard not to.

As for Virgin, they don’t sell cosmetics currently and neither do they have any intention to do so in future. From our common sense lesson in trademark law this should be an open and shut case, should it not? It seems crystal clear that two companies selling completely different products with names using a common word in an arbitrary manner, no virgins being sold, should both have the right to trademark that word.

Or in this case an invented word similar to that word, it would be like Apple vs Appleic. What’s more in the UK where this case started 2 years ago, a quick search reveals many companies trading under the word ‘Virgin’ offering various services. They’re able to do so for the reasons already stated above.

So why would Virgin target a small startup that doesn’t even use the name “virgin” and doesn’t trade in phones, planes and spaceships but natural face creams? It appears to be nothing more than pure speculative spitefulness by certain lawyers needing to justify their retainer and earn exorbitant fees from their client.

One can almost imagine those lawyers idly examining new trademark applications looking for marks that look somewhat similar to their client’s, no matter how tenuous the connection and salivating over the thought of the juicy fees to follow.

This sort of behavior is no better than the ‘ambulance chaser’ stereotype that looms large in the public’s imagination. In fact, under common law there was historically an offence referred to as ‘barratry’ referring to people who are “overly officious in instigating or encouraging prosecution of groundless litigation” or who bring “repeated or persistent acts of litigation” for the purposes of profit or harassment. Sadly for VIRGINIC, this is no longer an offense in England and Wales. Now the turn is for the US court system to judge on the merits vs manipulative discourse of Virgin’s lawyers justifying their retainers.

Some of the investigative journalists following VIRGINIC case point out that the actual litigation is indeed pointless and harassing in nature. Furthermore it is destructive and punitive. VIRGINIC was already denied the appeal in UK, Virgin got paid £35,000 but since that wasn’t enough, Virgin’s lawyers proceeded to open more lawsuits against VIRGINIC in more countries, including countries where VIRGINIC doesn’t trade.

VIRGINIC refused to commit business suicide and close the shop, just because Virgin said so. Virgin’s lawyers responded by opening personal lawsuits against key employees and managers of VIRGINIC in both US and UK, using an alter ego theory as a legal crutch. In David vs Goliath cases, a big corporation can starve a small company financially to death, break their spirit by forcing them to give up simply because a small company is no longer able to afford piling up legal fees (in this case internationally) – a common tactic of a common bully.

Virgin opened personal lawsuits against shocked and distressed key employees and managers of VIRGINIC calling them in Wyoming court an “alter ego” of VIRGINIC company itself. When VIRGINIC and its management heroically kept refusing to be destroyed, more personal lawsuits were opened in the court of England.

VIRGINIC stated on their website that they felt it was morally wrong to close the business and stop making natural cosmetics for people with allergies that asks for them every day, just because a multi-billion dollar attacker has such a wish. In response to that, Virgin’s lawyers just recently added to the ongoing lawsuit 3 unrelated to VIRGINIC start up companies (in both court of both Wyoming, US and London, England) – companies where VIRGINIC employees used to work based on same “alter ego” legal crutch theory, causing even greater surprise to all spectators and a real financial damage to other small entities that stated no connection to VIRGINIC.

VIRGINIC announced on their social media that directly due to high legal fees causing hardship to its business half of their employees had to be laid off. At the expense of a great personal toll to those individuals and at a great loss of human capital in general, Virgin is further magnifying the damage caused.

If any business case is the personification of vicious, pointless litigation that only serves to enrich overpaid lawyers then this is it. Let us hope that a fairytale ending lies in store for the good folks at VIRGINIC and their spirit of not giving up on their dream, with a deserved comeuppance for the villain of the piece.

SOURCE: EPR Network

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Virgin Demands Small Cosmetic Company VIRGINIC Closes and Opens Lawsuits Against its Main Employees

New York, NY, 2020-Apr-23 — /EPR Retail News/ — One of the greatest challenges currently facing the business world is the relentless pursuit of ownership of brand names, logos, typefaces, slogans and even colors! The judiciary are constantly inundated with cases regarding the alleged illegal or improper use of any, or any combination, of these.

But how much of this is a waste of the court’s time? How often is a case being brought simply because an in-house legal beagle needs to justify their salary? How many cases are brought that should simply, in any real world of common sense, never make it out of the split second of foolishness of that very thought’s creator?

Now, the idea that somebody really believed it necessary to protect their idea/investment/invention by receiving confirmation that it was indeed theirs, does, of course, make some sense. Invent the perfect diet in the form of a single daily dose tablet and you should be able to protect that invention and make as much money as the marketplace deems it to be worth until somebody comes up with a way of simply breathing in the perfect diet, and your invention becomes worthless.

And there is, in and of itself, the answer to many of our questions, whether or not we really knew that we had them. Money. Without this fiendish instrument of perceived wealth, where would we be? Would anybody, anywhere ever need to know who invented something of great use to the general populous? Would anybody give you the pats on the back and the “attaboys” that your genius deserved? Well, maybe, and, more likely the case, maybe not.

But would you care? I mean, let’s be honest, if you honestly did all this just for the kudos, you wouldn’t have needed the patent application form in the first place, right? You did it for the money, as is your absolute right to do, and you are simply protecting your investment and the value that your invention has.

Trademarks are, however, a whole different ball game. Take the example of Odysseas Papadimitriou’s company trademark application for his WalletHub brand, a brand that offered a website able to compare various offers such as insurance, loans, mortgages etc. The trademark application for his logo, a white “W” set in a green square, was disputed by, of all things, Major League Baseball! The claim was that the MLB had not one but TWO similar logos that would be infringed upon were the application allowed. One of these is a logo that has not been used in baseball since 1960, the year that the Washington Nationals became the Minnesota Twins whilst the other is a flag that the Chicago Cubs fly in their stadium if they win!

How are either of these “uses” threatened in any way, financial or otherwise, by a website that offers financial documentation organization services? Are WalletHub suddenly getting calls from angry customers, unable to get seats for the game? Are the MLB getting calls asking for financial advice?

And that, ladies and gentlemen, is the key to this whole mess…IS THE CONSUMER CONFUSED ABOUT WHO OR WHAT THEY ARE ENGAGING WITH FOR GOODS OR SERVICES? That is the acid test. That is the reason the law uses to justify its very existence. That is the fly in the inhouse legal beagle’s ointment…Can they PROVE that this brand confusion would exist?

A perfect example of this is the case of Virgin Group PLC v VIRGINIC LLC (you already see where this is going, right?!). VIRGINIC is a young start-up specializing in all-natural, organic beauty products. Not trains. Not planes. Not telephones.

In fact, not any product that is even similar to anything that the Virgin group does or even has ever produced. Clearly there can be no confusion here. But what’s that, I hear you cry? The name is similar? Surely name similarity is not enough. For example, Ford once manufactured a car called the Capri. Now we have the Capri Sun brand all over the world. Is there an issue? Are people buying juice boxes worried that they are made in a car factory? Of course they are not. That would be silly, wouldn’t it?!

VIRGINIC was dismissed by a judge in the UK at the THIRD time of asking, having already beaten Virgin’s trademark infringement case on two previous occasions.The virtue of the freedom of speech that we protect so rigorously, is not an objective virtue any more in the common legal sense, apparently.

For as long as there exists a particular judge able to be swayed by vague and ridiculous arguments, such as those employed by the Virgin lawyers, on a particular day, in a particular place, we will carry on down this absurd legal rabbithole, wasting both the time and money of the taxpayer and of both businesses in question, meanwhile doing nothing for the consumer other than limit their access to the products that they may actually wish to purchase.

And are those not the people that these very laws were enacted to protect in the first place?

Trademark case numbers (UK00003283156)

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CarMax to provide one-time bonus to associates as a result of the Tax Cuts and Jobs Act of 2017

Richmond, Va., 2018-Feb-23 — /EPR Retail News/ — CarMax, Inc. (NYSE:KMX), the nation’s largest retailer of used cars, announced plans to provide one-time bonuses to most hourly and commissioned full-time and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of 2017. Bonus amounts will vary from $200 up to $1,500 based on length of service with the company.

“Our success as a company is due to the hard work and dedication of our talented Associates,” said Bill Nash, CarMax President and CEO. “We are always looking for ways we can support them, and I’m pleased to have this opportunity to thank associates for all that they do every day for our customers and for each other.” About 80 percent of associates will receive the bonus, which will be distributed in March 2018.*

CarMax regularly evaluates research salary data to ensure we are offering competitive compensation and benefits to our associates. The company also is carefully considering opportunities to use these new tax savings in ways that are in the best interests of our business, our associates, our customers and our shareholders.

About CarMax
CarMax is the nation’s largest retailer of used cars and operates more than 185 stores in 41 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For nearly 25 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has nearly 25,000 associates nationwide and for 14 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 28, 2017, the company retailed 671,294 used cars and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Contact:

pr@carmax.com
(855) 887-2915

Source: CarMax, Inc.

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The National Retail Federation applauds Senate passage of landmark tax reform legislation

WASHINGTON, 2017-Dec-04 — /EPR Retail News/ —The National Retail Federation welcomed Senate passage early today (December 2, 2017) of landmark tax reform legislation, saying congressional action on the pro-growth plan is helping boost consumer confidence and that savings from reform could be enough to pay for many families’ holiday shopping.

“This vote couldn’t come at a better time,” NRF President and CEO Matthew Shay said. “Holiday shopping was strong throughout the Thanksgiving weekend, and a good part of the reason was optimism about the work Congress is doing to pass tax reform. Consumers and voters are beginning to realize that tax reform will create jobs, leave more money in the pockets of middle-class Americans and give our nation’s economy the biggest boost it’s seen in decades. In fact, the savings is enough to give the average family a free Christmas. It’s time to get this legislation to President Trump so American consumers will know they can count on extra money in their paychecks come January.”

“We look forward to members of the House and Senate sitting down to reconcile the differences between their versions of the legislation so that a final bill can be signed into law as soon as possible,” Shay said. “There is far more that the two chambers agree on than they disagree on. And both clearly agree that the time for tax reform has come.”

According to the Senate Finance Committee, a typical family of four earning the average annual income of $73,000 would see its taxes cut by nearly $1,500 a year, or $125 a month, and some estimates are higher. The number is enough to completely cover the $967.13 NRF expects the average consumer to spend this year as part of up to $682 billion in holiday season sales.

An NRF survey found that 174 million American adults shopped from Thanksgiving Day through Cyber Monday, 10 million more than NRF had projected.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:

J. Craig Shearman
(202) 626-8134
press@nrf.com
(855) NRF-Press

Source: NRF

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CVS Health survey: majority of Americans agree that the health care system is in need of reform

WOONSOCKET, R.I., 2017-Dec-01 — /EPR Retail News/ — Results of a new national survey from CVS Health (NYSE: CVS) released today (November 30, 2017) found that over half (56 percent) of Americans say the U.S. health care system does not work well for them, while overwhelming majorities agree the system is in need of reform (73 percent) and is currently too politicized (69 percent).

The State of Health Care in the United States.
Of those Americans frustrated by the current state of U.S. health care, 65 percent say it is too expensive, and the affordability of health care, health insurance and prescription drugs top the list of Americans’ most urgent concerns.

The results of the national survey of 2,201 adults, conducted online by Morning Consult on behalf of CVS Health in October 2017 and released at the Forbes Health Care Summit, also found that more Americans (41 percent) believe health care in the U.S. has generally gotten worse rather than improved over the past five years. However, when it comes to their personal experience, a plurality say their own health care has largely not changed, and a larger share of Americans say it has gotten better (28 percent) than who say it has gotten worse (23 percent).

Despite generally negative views of health care in the United States, a vast majority of insured respondents (83 percent) say they are somewhat or very satisfied with their health plans. However, nearly a third report that they did not have a choice in the health plan that was offered to them.

At the same time, respondents of the survey are hopeful about the health care system’s future state, particularly for the next generation of Americans. This sentiment is particularly strong among American parents of whom 52 percent say they are optimistic their children will have better health care than they did at their age. They point to innovation as the reason, with 65 percent who say advances in health care will make lives safer and 66 percent who say advances will make lives longer.

However, the survey reveals limits to Americans’ optimism as a skeptical public questions whether effective health care reform will eliminate regulatory barriers to innovation and put patients first. According to the survey, a plurality of Americans (45 percent) feel there is too much regulation in the way of innovation in health care. Furthermore, three out of five Americans say decisions made in health care put the bottom line ahead of patients, whereas only one in five say that either decisions put patients first or they are at least considered equally with the bottom line.

“While we see significant frustration in this poll with the cost and quality of healthcare, there is a sense of hope among Americans about the future,” said CVS Health Chief Medical Officer Troyen A. Brennan, M.D., M.P.H. “These findings underscore a challenging set of pain points in the system which should serve as a catalyst for all players in health care patients, providers, payors and policymakers to work together to pursue the necessary reforms and innovations that improve quality and affordability and make a complex system easier to navigate for a more empowered health care consumer.”

The full set of survey results is available at www.cvshealth.com/stateofhealthcare.

Survey Methodology

This survey was conducted online within the United States between October 19-23, 2017 among 2,201 adults aged 18+ by Morning Consult on behalf of CVS Health. Results from the survey have a margin of error of 2%.

About CVS Health

CVS Health is a pharmacy innovation company helping people on their path to better health. Through its 9,700 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with nearly 90 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Media Contact:

Joe Goode
401-770-9820
Joseph.Goode@CVSHealth.com

SOURCE: CVS Health

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Iceland supports Greenpeace’s call for the Government to impose bottle Deposit Return Scheme

London, 2017-Dec-01 — /EPR Retail News/ — Iceland fully supports Greenpeace’s call for the Government to impose a bottle DepositReturn Scheme (DRS).

Richard Walker, Director for Sustainability at Iceland Foods, said: “Every minute, a truckload of plastic waste enters our oceans. In Britain, we are failing to recycle up to 16 million single use plastic bottles every day.

“This cannot carry on. It is causing untold damage to our oceans and wildlife. It is also a ticking time bomb for humanity, since we all ultimately depend on a healthy ocean environment for our own survival.

“Deposit Return Schemes work. In Norway theirs has led to 96% of all bottles being returned, with similar results in other countries that have adopted a DRS. Britain urgently needs to do the same.

“Introducing a DRS may well add to our costs of doing business. However, we believe it is a small price to pay for the long term sustainability of this planet. I urge all other retailers to do the right thing and follow suit.”

In addition, Iceland has offered its support by hosting a DRS reverse vending machine within a number of its stores for the Government to trial.

About Iceland Foods
Iceland is recognised as the leader in frozen food with 900 stores in the UK. The company prides itself on being a convenient and friendly place to do the family’s weekly shop, as well as to meet everyone’s daily top-up shopping needs for fresh, chilled and frozen food and groceries. Since 1970 Iceland has been proudly demonstrating to shoppers just how the Power of Frozen can deliver an extensive choice of high quality, great-tasting food from fine sources around the world at great value prices. With the Power of Frozen at its heart, Iceland naturally generates low levels of food waste. In the 1980s the company led the way in removing artificial colours, flavours and non-essential preservatives from its own label products, while in the 1990s it became the first national food retailer to remove GM ingredients from its own brand range. Its long history of environmental action includes the launch of the Kyoto range of fridges and freezers in partnership with Greenpeace in 1998, and it has recently completed a company-wide conversion to LED lighting to reduce its carbon footprint. Iceland has won multiple awards for the quality of its products and services, including being named Online Supermarket of the Year by both The Grocer and IGD in 2017. It has ranked as one of the UK’s Best Big Companies to Work For in each of the last 11 years, and was number one in both 2012 and 2014.

ENQUIRIES:
Keith Hann
Director of Corporate Affairs
01244 842228 / 07831 521870
kh@keithhann.com

Source: Iceland Foods

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NGA urges Senate to pass comprehensive tax reform to create a more level playing field for supermarkets operating as pass-through businesses

ARLINGTON, Va., 2017-Nov-29 — /EPR Retail News/ — The National Grocers Association (NGA), the trade association representing the independent supermarket industry, and 152 state trade associations and food retailers today urged the U.S. Senate to pass comprehensive tax reform that creates a more level playing field for supermarkets operating as pass-through businesses.

In a letter to Senators, the grocers expressed support for the Tax Cuts and Jobs Act, but contend that the bill falls short of achieving rate parity between C-corporations and pass-through entities, which make up nearly half of NGA’s member companies. The proposed effective tax rate on qualifying pass-through businesses would be approximately 32 percent, or 12 percent above that of C-corporations.

“America’s pass-through independent supermarkets are a large and vital part of the economy and the new lower business tax rate needs to reflect their importance by being broadly applied and effectively enforced,” the group wrote to senators. “We urge Congress to support reforms that create a more level playing field for Main Street supermarkets so they can grow their businesses and create local jobs.”

In September, House and Senate leaders released a Unified Framework that pledged to treat pass-through businesses fairly in relation to their corporate competitors and called for a rate differential of five percentage points. The Senate bill ignores this promise and sunsets the pass-through deduction in seven years.

“Independent supermarkets are driving innovation in the marketplace. From implementing e-commerce strategies to developing new formats that enhance the customer experience, independent grocers are truly leading the way. We know tax reform can help these entrepreneurs to continue to invest in their communities, employees, and communities. We look forward to working with you and your colleagues to grow this important sector of the economy,” the letter concludes.

Contact:

Tel: (703) 516-0700
Fax: (703) 516-0115

Source: NGA

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NGA urges the U.S. House of Representatives to pass the ADA Reform and Education Act of 2017

ARLINGTON, Va., 2017-Nov-28 — /EPR Retail News/ — The National Grocers Association (NGA), the trade association representing the independent supermarket industry, and 28 state trade associations today urged the U.S. House of Representatives to pass the ADA Reform and Education Act of 2017 (H.R. 620) in a letter sent to lawmakers. The legislation would protect businesses from frivolous lawsuits brought by ethically questionable lawyers often only seeking a payout instead of protecting disabled patrons.

Independent supermarket operators are frequently targets for legal action, or threats of legal action, designed to force a business to settle out of court instead of sustaining a protracted and expansive legal battle. To give stores an opportunity to correct potential violations of the Americans with Disabilities Act (ADA), H.R. 620 would require supermarket operators to be given 60-days to respond to allegations after receiving written warning, and 120-days to make substantial progress toward addressing the alleged violation.

“In recent years, supermarket operators are no longer simply negotiating slip-and-fall lawsuits, but patent trolling and the threat of ADA litigation as well,” the group wrote to Speaker Paul Ryan (R-WI) and Minority Leader Nancy Pelosi (D-CA). “Often ADA litigators have never been in the store that they are threatening to sue, or do not have a client that has been injured or harmed in any way. These attorneys regularly send threatening letters to store owners in hopes of an easy settlement.”

“Independent grocers are committed to complying with all ADA guidelines and making their stores accessible to disabled customers,” said Chris Jones, vice president of government relations and counsel at NGA. “Any supermarket found to have shortcomings under the ADA should be granted an opportunity to take corrective measures without the threat of a frivolous lawsuit from lawyers who are more interested in making a buck than protecting the rights of the disabled.”

Source: NGA

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The Australian Retailers Association welcomes ACCC’s Draft Determination of the Casual Mall Licensing Code of Practice

Melbourne, Australia, 2017-Nov-22 — /EPR Retail News/ — The Australian Retailers Association (ARA) has welcomed the Australian Competition and Consumer Commission (ACCC)’s Draft Determination of the Casual Mall Licensing Code of Practice, supporting its concerns of the effective operation of the Code and their suggestion to invite respective organisations to become parties of the Code Administration Committee (CAC).

The ARA have long been working on this issue with the Australian Sporting Goods Association (ASGA), Franchise Council of Australia (FCA) and the Pharmacy Guild of Australia (PGA) as the CAC has not been functioning as intended, with ineffective administration and maintenance of the Code leading to a number of issues.

ARA Executive Director, Russell Zimmerman said the ARA have had both retailers and members highlight endless adjacency and line of sight issues with casual mall tenants that will need to be addressed in the re-authorisation of the Code.

“While retailers understand the use of pop-up shops for temporary promotions, those in direct competition with existing tenants should not be operating directly outside permanent retailers,” Mr Zimmerman said.

“The Code must be reviewed and amended, as any interference with sightlines to a permanent lessee should be at least avoided, if not prohibited, as it impacts unfairly on access, customer flow, and competition.”

The ARA strongly believe a diverse representation of parties on the Code is crucial to its success, however they do insist it is important for parties which are primarily affected by the Code to have ownership of it.

“While the ARA appreciate the recommended appointments to the CAC, we question the amount of knowledge some organisations might possess on retail leasing issues, particularly those that represent retail businesses who do not generally occupy physical stores,” Mr Zimmerman said.

“The ARA does not have any objection to the National Online Retailers Association (NORA) being put forward as a landlord nominee, nor the National Retailers Association (NRA) as a landlord nominee, given its close relationship in representing the interests of the SCCA over retail.”

The ARA, ASGA, FCA and PGA are committed to ensuring the success of the Code moving forward, and will not support re-authorisation of the Code until its current issues are addressed. Until then, the ARA will continue to seek regulatory intervention by the ACCC.

To view the ARA’s full submission to the ACCC please click here.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

For interview opportunities with ARA Executive Director, Russell Zimmerman, call the ARA Media team on 0439 612 556 or email media@retail.org.au.

Source: ARA

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RILA welcomes House passage of the “Tax Cuts and Jobs Act”

Arlington , VA, 2017-Nov-20 — /EPR Retail News/ — Today (11/16/2017), the Retail Leaders Association (RILA), the trade association for America’s most recognized and innovative brands, issued a statement praising the House passage of the “Tax Cuts and Jobs Act”:

“We are thankful the House moved swiftly to pass this important legislation that will give America’s retailers and consumers a break. America’s current tax code is in dire need of an update. Retailers pay one of the nation’s highest effective corporate tax rates which is why we are pleased to see the corporate tax rate permanently reduced to 20 percent. This will allow savings to be reinvested to grow, add jobs and serve customers.  Further, we enthusiastically support the tax relief provided to individuals, specifically targeted to middle class taxpayers. Tax reform that works for retailers and customers is vital to keep our economy growing. We thank the House for listening to America’s retailers and our consumers, and urge the Senate to move forward on passing their proposal,” said Jennifer Safavian, executive vice president of government affairs for RILA.

RILA is the trade association of the worlds largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.

Contact:
Christin Fernandez
Vice President, Communicatoins
Phone: 703-600-2039
Email: christin.fernandez@rila.org

Source: RILA

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Prada Spa in full transparency with the Italian Tax Authority; admitted to the “Cooperative Compliance Regime”

Milan,, 2017-Nov-11 — /EPR Retail News/ — Prada Spa has been admitted to the “Cooperative Compliance Regime” (as provided for by the Italian Legislative Decree no.128/2015), consisting in an ongoing dialogue in full transparency with the Italian Tax Authority, thereby strengthening the level of certainty on the most relevant tax matters.

Adhering to this regime is part of the broader tax strategy of the Prada Group, which has always been based on risk prevention and commitment to promote a business culture based on fairness and compliance with the law.

This represents an important milestone in the path of cooperation and mutual trust started by Prada with Tax Authorities long ago, being increasingly aware that a transparency-based tax risk management is beneficial to all Group’s stakeholders.

PRADA Group
The PRADA Group – HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu , Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Moreover, in 2014,mPrada Spa acquires 80% of Angelo Marchesi srl, owners of the historic Milanese pastry shop founded in 1824. The Group operates, under licensing agreements, in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that included 613 directly operated stores (DOS) at July 31, 2017 and a selected network of luxury department stores, independent retailers and franchise stores.

For further information, please contact:
Prada Press Office
+39.02.541921
ufficio.stampa@prada.com

Source: PRADA Group

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Kroger’s Mid-Atlantic division ratifies new labor agreement with UFCW Local 400

CINCINNATI, 2017-Nov-08 — /EPR Retail News/ — The Kroger Co. Mid-Atlantic division associates working at Kroger stores in West Virginia and surrounding area have ratified a new labor agreement with UFCW Local 400.

“We are pleased to reach an agreement that is good for our associates. This new contract provides good pay increases, affordable health care and financial support from the company to our associates’ pension fund to support their retirement,” said Jerry Clontz, president of Kroger’s Mid-Atlantic division. “This agreement comes after thoughtful and productive work by both the company and union bargaining committees. I want to thank our associates for supporting this agreement and for the excellent service they provide to our customers every day.”

The agreement covers 4,200 associates working at 39 stores. (It includes 34 stores in West Virginia, three in Ohio and two in Kentucky.)

At The Kroger Co., we are dedicated to our purpose: to Feed the Human Spirit™. We are 450,000 associates who serve nearly nine million customers daily in 2,793 retail food stores under a variety of local banner names in 35 states and the District of Columbia. Our Family of Companies operates an expanding ClickList offering – a personalized order online service – in addition to 2,258 pharmacies, 783 convenience stores, 307 fine jewelry stores, 222 retail health clinics, 1,472 supermarket fuel centers and 38 food production plants in the United States. Our Company has been recognized as one of America’s most generous companies for our support of more than 100 Feeding America food bank partners, breast cancer research and awareness, the military and their families, and more than 145,000 community organizations including schools. As a leader in supplier diversity, we are a proud member of the Billion Dollar Roundtable.

SOURCE: The Kroger Co.

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RILA comments on House Hearings on data security and consumer privacy

House Hearings Address Consumer Privacy In The Digital Age

Arlington , VA, 2017-Nov-02 — /EPR Retail News/ — In response to hearings held today (11/1/2017) in the House Financial Services and Energy and Commerce Committees focusing on data security and consumer privacy, the Retail Industry Leaders Association (RILA) issued the following statement:

“Consumer privacy and data security are top priorities for America’s retailers,”said Nicholas Ahrens, vice president of privacy and cybersecurity for RILA. “As retail and technology converge, maintaining customer trust is the bedrock of the retail business model. That’s why retailers have long advocated for federal legislation that addresses federal data security standards and data breach notice requirements.

“Today’s hearings are an encouraging sign that Congress is taking these issues seriously and working towards a solution. Retailers embrace the careful stewardship of customer data not only because maintaining customer trust is a core business imperative, but because it is the right thing to do. RILA stands ready to work with Congress to find a solution that protects consumers while providing reasonable guide rails to help businesses maintain and deepen customer trust relationships.”

RILA is the trade association of the worlds largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.

Contact:
Christin Fernandez
Vice President, Communications
Phone: 703-600-2039
Email: CHRISTIN.FERNANDEZ@RILA.ORG

Source: RILA

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Welsh Retail Consortium on the new minimum price for alcohol in Wales

Closeup side view of late 20’s couple choosing some red wine at local supermarket. The guy is holding on of the bottles and they’re both reading the label on the back. Big selection of unrecognizable red wines in front of them.

LONDON, 2017-Oct-25 — /EPR Retail News/ — Responding to today’s announcement on a new law to introduce a minimum price for alcohol in Wales, Sara Jones, Head of the Welsh Retail Consortium said:

“Grocery retailers are committed to the responsible retailing of alcohol. WRC members support a number of measures which improve the way alcohol is sold and enjoyed in Wales, we are the only sector following the Chief Medical Officer’s alcohol label and our members support responsible consumption messaging throughout store and through the Drinkaware Trust.

“It is widely recognised that there is no silver bullet to the deep-seated and intractable cultural and social causes of irresponsible drinking. It is worth noting that both problem drinking and overall alcohol consumption continues to decline, with the proportion of adults who drink alcohol at its lowest level since 2005.  We need to see more evidence that minimum unit pricing would make a difference to the minority of drinkers who do drink excessively, given that its introduction may hit less affluent moderate consumers of alcohol whilst not necessarily having the desired impact on problem drinkers.  We believe the right approach is to support a range of locally targeted partnership schemes that are properly evaluated and evidence-based; and we will work closely with our members to ensure that alcohol continues to be sold and marketed responsibly.”

SOURCE: British Retail Consortium

MEDIA CONTACT

  • TELEPHONE+ 44 (0) 20 7854 8924
  • OUT OF HOURS+44 (0) 7557747269

 

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FMI Hannah Walker: Supreme Court’s decision to take up Amex’s case could have significant implications for food retailers

ARLINGTON, VA, 2017-Oct-23 — /EPR Retail News/ — Food Marketing Institute (FMI) issued the following statement regarding the U.S. Supreme Court’s announcement yesterday to reconsider allegations that American Express Co. card acceptance rules violate antitrust laws by prohibiting merchants from steering customers to cards with lower fees. FMI Senior Director of Technology & Nutrition Policy Hannah Walker commented:

“The Supreme Court’s decision to take up the case could have historic and significant implications for food retailers. In the original case, Department of Justice (DOJ) charged that Amex’s anti-steering provisions stifle competition among credit card companies for the prices charged to merchants and that Amex failed to establish any procompetitive benefits.

“The 2015 trial court’s decision was a clear victory for the merchant community, finally offering the first seed of competition and transparency into the credit card market. With a rule change, a grocer would be able to discuss the cost of accepting one card over another with its customer. Additionally, a merchant could offer discounts, rewards, and other incentives to encourage a customer to use one card brand over another.

“Each year, U.S. merchants pay an estimated $88 billion* in processing fees, which is just more revenue for the banks and credit card companies. We are encouraged that the Supreme Court will rule in favor of free market competition when the justices hear arguments early next year.”

*2017 HSN Consultants, Inc. THE NILSON REPORT, May 2017, Issue 1109

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

SOURCE: Food Marketing Institute

MEDIA CONTACT

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616
Connect with us!
@FMI_ORG

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FMI Jennifer Hatcher: We are disappointed on the passage of San Francisco Ordinance #170763

ARLINGTON, VA, 2017-Oct-23 — /EPR Retail News/ — Food Marketing Institute (FMI) released the following statement from Jennifer Hatcher, chief public policy officer and senior vice president of public affairs, on the passage of San Francisco Ordinance #170763 that will require food retail establishments to require recordkeeping regarding the use of antimicrobials in animals produced for food:

“Today, the San Francisco Board of Supervisors passed an ordinance that will require expensive, duplicative reporting and recordkeeping requirements for certain food retail establishments in the city. We are disappointed that in the passage of this ordinance, the Board did not take into consideration the concerns of the city’s grocers, their customers, or the commonsense modifications proposed by FMI to exempt products marked as USDA certified organic, ‘Raised without Antibiotics’ or an approved variation of this nomenclature.”

“Under the ordinance, certain food retail establishments, including both traditional grocers and specialty food retail establishments with 25 or more stores nationwide, will be forced to produce and maintain redundant paperwork about antimicrobial usage or non-usage in meat. As FMI stated in its letter submitted to the Board and San Francisco Mayor Ed Lee, this information is already prominently provided on the package as it is federally regulated and must appear on the fresh meat label for those consumers who seek products from animals raised without antibiotics. This includes meat labeled “organic.”

“While FMI is displeased with the ordinance and that the Board neglected to even consider our proposed commonsense changes to the ordinance requirements, exempting previously labeled products, we will continue to be highly engaged through the rule-making process.”

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

SOURCE: Food Marketing Institute

MEDIA CONTACT

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616
Connect with us!
@FMI_ORG

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Toys“R”Us, Inc. Files Voluntary Chapter 11 Petitions in U.S. and Intends to Seek Protection under CCAA in Canada

  • Toys“R”Us and Babies“R”Us Stores and Web Stores across the World are Open and Continuing to Provide World-Class Experiences for Customers
  • Restructuring Process Expected to Enhance Financial Flexibility for Investments in Growth Initiatives
  • Company Receives Commitment of Over $3.0 Billion in Debtor-in-Possession Financing to Support Operations

WAYNE, NJ, 2017-Sep-20 — /EPR Retail News/ — Toys“R”Us, Inc. (“the Company”) today (September 18, 2017) announced that the Company and certain of its U.S. subsidiaries and its Canadian subsidiary have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond, VA. In addition, the Company’s Canadian subsidiary today intends to seek protection in parallel proceedings under the Companies’ Creditors Arrangement Act (“CCAA”) in the Ontario Superior Court of Justice. The Company intends to use these court-supervised proceedings to restructure its outstanding debt and establish a sustainable capital structure that will enable it to invest in long-term growth and fuel its aspirations to bring play to kids everywhere and be a best friend to parents.

The Company’s operations outside of the U.S. and Canada, including its approximately 255 licensed stores and joint venture partnership in Asia, which are separate entities, are not part of the Chapter 11 filing and CCAA proceedings.

The Company’s approximately 1,600 Toys“R”Us and Babies“R”Us stores around the world – the vast majority of which are profitable – are continuing to operate as usual, providing customers with great service and a curated assortment of merchandise in the toy and baby categories. Customers can also continue to shop for the toy and baby products they are looking for online on the Company’s newly launched www.toysrus.com and www.babiesrus.com web stores. Customers should expect the Company’s loyalty programs, including its Rewards“R”Us, Geoffrey’s Birthday List and Babies“R”Us Registry, to continue as normal.

“Today marks the dawn of a new era at Toys“R”Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way,” said Dave Brandon, Chairman and Chief Executive Officer. “Together with our investors, our objective is to work with our debtholders and other creditors to restructure the $5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business, continue to improve the customer experience in our physical stores and online, and strengthen our competitive position in an increasingly challenging and rapidly changing retail marketplace worldwide. We are confident that these are the right steps to ensure that the iconic Toys“R”Us and Babies“R”Us brands live on for many generations.”

Mr. Brandon continued, “As the holiday season ramps up, our physical and web stores are open for business, and our team members around the world look forward to continuing to put huge smiles on children’s faces. We thank our vendors for their ongoing support through this important season and beyond. We also appreciate the strong support our investors have provided over time and the constructive role they are playing in this process that will allow us to create a brighter future for our company. And as importantly, we thank our team members in advance for their hard work and dedication to serving the millions of customers who will shop with us this holiday.”

The Company has received a commitment for over $3.0 billion in debtor-in-possession (“DIP”) financing from various lenders, including a JPMorgan-led bank syndicate and certain of the Company’s existing lenders, which, subject to Court approval, is expected to immediately improve the Company’s financial health and support its ongoing operations during the court-supervised process. Toys“R”Us is committed to working with its vendors to help ensure that inventory levels are maintained and products continue to be delivered in a timely fashion.

In conjunction with the Chapter 11 process in the U.S., the Company has filed a number of customary motions with the bankruptcy court seeking authorization to support its operations during the restructuring process and ensure a smooth transition into Chapter 11 without disruption, including authority to continue payment of employee wages and benefits, honor customer programs, and pay vendors and suppliers in the ordinary course for all goods provided on or after the filing date.

Additional information can be accessed by visiting the Company’s restructuring website at www.toysrusinc.com/restructuring, calling the Company’s Information Hotline, toll- free in the U.S. and Canada at (844) 794-3476, or sending an email to toysrusinfo@PrimeClerk.com. Court filings and other documents related to the court- supervised process in the U.S. are available on a separate website administered by the Company’s claims agent, Prime Clerk, at https://cases.primeclerk.com/toysrus. Information about the CCAA proceedings will be available on a separate site maintained by an independent monitor. The appointment of the monitor and address of the monitor website are expected to be announced later today.

Kirkland & Ellis LLP is serving as principal legal counsel to Toys“R”Us, Alvarez & Marsal is serving as restructuring advisor and Lazard is serving as financial advisor.

About Toys“R”Us, Inc.
Toys“R”Us, Inc. is the world’s leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 885 Toys“R”Us and Babies“R”Us stores in the United States, Puerto Rico and Guam, and in more than 810 international stores and over 255 licensed stores in 38 countries and jurisdictions. With its strong portfolio of e-commerce sites including Toysrus.com and Babiesrus.com, the company provides shoppers with a broad online selection of distinctive toy and baby products. Toys“R”Us, Inc. is headquartered in Wayne, NJ, and has nearly 65,000 employees worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Over the past three decades, the Company has given more than $100 million in product donations to children’s charities. Since 1992, the Toys“R”Us Children’s Fund, a public charity affiliated with Toys“R”Us, Inc., has also donated more than $130 million in grants. For more information, visit Toysrusinc.com or follow @ToysRUsNews on Twitter.

For more information please contact:

Lenders and Note Investors:
Matthew Finigan
Vice President
Treasurer
973-617-5808
Matthew.Finigan@toysrus.com

Media:
Amy von Walter
Executive Vice President
Global Communications & Customer Care
201-815-9512
Amy.vonWalter@toysrus.com

press@toysrus.com
973-617-5900

Michael Freitag / Meaghan Repko
Joele Frank, Wilkinson Brimmer Katcher
Tel: (212) 355-4449

Source: Toys“R”Us, Inc.

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Co-op cuts the cost of women’s sanitary products

MANCHESTER, England, 2017-Aug-30 — /EPR Retail News/ — Co-op has today (29 August 2017) announced it will cut the cost of women’s sanitary products to cover the cost of the so-called ‘Tampon tax.’

A five per cent reduction will come into effect on 30 August 2017 ahead of Government proposals* to remove the VAT.

All 71 own label and branded sanitary products sold by the Co-op will be cut. Even bigger savings are available for the Co-op’s 4.5 million members who get a 5% reward** every time they buy a Co-op own-brand sanitary product.  membership is open to anyone.

Andy Phelps, Director of Trading, Co-op, said:
“As a community retailer we feel it’s important to do right by our customers. That’s why we are covering the cost of the five per cent VAT on sanitary products for women who shop with us.”

Notes to editors:

*https://www.gov.uk/government/publications/vat-zero-rating-of-womens-sanitary-products/vat-zero-rating-of-womens-sanitary-products

**Millions of Co-op members receive a 5% reward on own-brand products and services with the Co-op’s membership scheme. As a member, every time Co-op branded products or services are purchased, 5% of what they pay will go into their membership account to be redeemed. In addition, a further 1% goes towards supporting community projects

Media Contact:

Craig Noonan
Head of Retail PR
M: 07702505439
T: 0161 6924284
craig.noonan@coop.co.uk

Source: coop.uk

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NCR announces Court approval of the consent decree settlement to resolve the Wisconsin Fox River environmental cleanup

DULUTH, Ga., 2017-Aug-28 — /EPR Retail News/ — NCR Corporation (NYSE: NCR) today (August 24, 2017) announced Court approval of the consent decree settlement it entered into in January 2017 with the United States Government and the State of Wisconsin to effectively resolve the Wisconsin Fox River environmental cleanup and related Superfund litigation.

“Approval of this settlement should help bring to a conclusion this longstanding matter relating to cleanup efforts that NCR began many years ago,” said Edward Gallagher, General Counsel of NCR Corporation. “We are gratified by the Court’s decision to approve the settlement and the allocation of past and future responsibility it entails, and pleased that it will foster completion of the Fox River remediation.”

The Court-approved consent decree includes NCR’s commitments to complete the in-river cleanup work and to drop a potential appeal. It also incorporates the limitation of Superfund claims brought against the Company by other parties and discontinuation of the Company’s own such claims, and it envisions assignments of responsibility to other companies for certain future tasks. The decision, by the U.S. District Court for the Eastern District of Wisconsin, is subject to potential appeal.

With the contributions of its former corporate parents and affiliates from the past several decades, NCR has successfully performed the majority of the cleanup work to date. NCR is the only company to have consistently been involved in that work from its start in 2009 to the present.

NCR will not make any settlement payments under the consent decree, but will fund the remediation through contractors and vendors on a pay-as-it-goes basis. The settlement is expected to have no material impact on NCR’s free cash flow or its Fox River reserve, which was adjusted to account for the settlement and reported on earlier this year in NCR’s Form 10-K for 2016.

About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware and portfolio of services, NCR enables nearly 700 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

NCR is headquartered in Duluth, Ga., with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. All other trademarks or registered trademarks are property of their respective owners.

NCR encourages investors to visit its website, which is updated regularly with financial and other important information about NCR.

Web site: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “believe,” “will,” “should,” “would,” “could” and words of similar meaning. Statements that describe or relate to NCR’s plans, goals, intentions, strategies or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of NCR’s control. Forward-looking statements are not guarantees of future performance, and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements, including those factors described in NCR’s filings with the U.S. Securities and Exchange Commission, including in Item 1a of NCR’s most recent annual report on Form 10-K, and in NCR’s quarterly reports on Form 10-Q and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. NCR does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

News Media Contacts:
NCR Corporation
Scott Sykes
212-589-8428
scott.sykes@ncr.com

Source: NCR Corporation

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Tesco to reduce the price of women’s sanitary products to cover the cost of the so-called ‘Tampon Tax’

CHESHUNT, England, 2017-Jul-31 — /EPR Retail News/ — Tesco has today (28 Jul 2017) announced it will reduce the price of women’s sanitary products in a bid to make them more affordable for customers.

The five per cent reduction in price will cover the cost of the so-called ‘Tampon Tax’ or VAT on the items ahead of Government proposals to remove the VAT and will apply to nearly 100 Tesco own label and branded products in the range.

Tesco previously committed to passing on the five per cent saving to customers when the Government’s proposed removal of VAT came into force, but has acted now in order to help customers with their regular shop.

Speaking about the price reduction, Michelle McEttrick, Tesco Group Brand Director said:

“For many of our customers, tampons, panty liners and sanitary towels are essential products.

“However, the cost of buying them every month can add up, and for many women and girls it can be a real struggle on top of other essential items.

“That’s why – as a little help for our customers – we are reducing the cost of these products by five per cent.”

Notes to editors

In October 2015 the Government confirmed it would seek a change in EU law to allow any rate of VAT to be applied to sanitary protection, as part of a review of EU VAT rates to be undertaken by the European Commission in 2016.
http://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2015-11-18/16882

In March 2016 the European Council confirmed that the Commission’s initiative would “include proposals for increased flexibility for Member States with respect to reduced rates of VAT, which would provide the option to Member States of VAT zero rating for sanitary products.”
http://www.consilium.europa.eu/en/press/press-releases/2016/03/18-european-council-conclusions/

Source: Tesco

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NRF: retailers remain committed to fixing Obamacare despite the failure of a “skinny” repeal bill in the Senate

WASHINGTON, 2017-Jul-31 — /EPR Retail News/ — The National Retail Federation said retailers remain committed to fixing Obamacare despite the failure of a “skinny” repeal bill in the Senate early today (July 28, 2017).

“It was very disappointing to come so close on even a limited bill but we will use our disappointment to fuel our push on incremental improvements that will lead to a better health care law,” NRF Vice President for Health Care Policy Neil Trautwein said. “While repeal remains the ultimate goal, there are many ways to reduce the burdens of this flawed law for the benefit of employers and workers alike. This fight is far from over.”

Trautwein said the Affordable Care Act continues to adversely influence staffing patterns, discourage full-time employment and drive up consumer prices.

NRF opposed enactment of the ACA in 2010 and has worked since then to reduce cost burdens and ease compliance requirements. Among other changes, NRF has sought to restore the definition of “full-time” workers who large company must provide with health insurance to 40 hours a week rather than 30, to fix reporting requirements and roll back ACA taxes.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:
J. Craig Shearman
(202) 626-8134
press@nrf.com
(855) NRF-Press

Source: NRF

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Food Marketing Institute and the supermarket industry welcome approval of the Common Sense Nutrition Disclosure Act

ARLINGTON, VA, 2017-Jul-31 — /EPR Retail News/ — Food Marketing Institute and the supermarket industry appreciate Chairman Greg Walden’s (R-OR) leadership and the House Energy & Commerce Committee’s approval of the Common Sense Nutrition Disclosure Act (H.R. 772).  H.R. 772 is a bipartisan bill led by Congresswoman Cathy McMorris Rodgers (R-WA), Congressman Tony Cardenas (D-CA), and others on the House Energy & Commerce Committee to build some needed flexibility into FDA’s final menu labeling rule, which was expanded to regulate grocery stores without making accommodations for the variety of formats, food offerings or other local initiatives in a grocery store setting.

“The committee’s strong bipartisan vote demonstrates both Congress’ and supermarkets’ continued interest in getting the FDA “menu labeling” standards fixed and implemented in a common sense way that fits the variety of foods and formats of grocery stores,” said Jennifer Hatcher, FMI Chief Public Policy Officer.  “We appreciate Reps. McMorris Rodgers and Cardenas for co-leading this effort.”

The bill includes sensible modifications that the supermarket industry has continually requested, such as preserving the ability to sell locally-made and locally-sourced foods, allowing for the use of a central menu board for a salad bar, and providing the ability for corrective actions and liability protections for good-faith compliance efforts.

Enacting this legislation would direct and provide FDA with the ability to incorporate these critical changes into the current menu labeling rule and finally resolve some of the problems that we have been encountering.  In addition, the bill demonstrates supermarkets’ commitment to a federal menu labeling standard and ensures that the process moves forward to successful final implementation.

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

Contact:

Heather Garlich
Senior Director, Media and Public Relations
media@fmi.org
202-220-0616

Source: FMI

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Staples, Inc. announces early termination of the waiting period under the “HSR Act”

FRAMINGHAM, Mass., 2017-Jul-28 — /EPR Retail News/ — Staples, Inc. (NASDAQ: SPLS or “Staples”) announced that on July 26, 2017 the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to the pending acquisition of Staples by investment funds managed by Sycamore Partners, a leading private equity firm.

The termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions, including Staples’ stockholder approval.

About Staples, Inc.
Staples brings technology and people together in innovative ways to consistently deliver products, services and expertise that elevate and delight customers. Staples is in business with businesses and is passionate about empowering people to become true professionals at work. Headquartered outside of Boston, Mass., Staples, Inc. operates primarily in North America. More information about Staples (NASDAQ: SPLS) is available at www.staples.com.

Additional Information and Where to Find It

This press release may be deemed solicitation material in respect of the proposed acquisition of Staples by Arch Parent Inc. (the “Parent”), an affiliate of investment funds managed by Sycamore Partners Management, L.P. Staples plans to file with the SEC and mail to its stockholders a Proxy Statement in connection with the transaction. This letter does not constitute a solicitation of any vote or approval. The Proxy Statement will contain important information about the Parent, Staples, the merger and related matters. Investors and security holders are urged to read the Proxy Statement carefully when it is available. Staples filed preliminary proxy materials with the SEC on July 21, 2017.

Investors and security holders will be able to obtain free copies of the Proxy Statement and other documents filed with the SEC by the Parent and Staples through the web site maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the Proxy Statement from Staples by contacting Staples Investor Relations department at investor@staples.com. In addition, the proxy statement and our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge through our website at investor.staples.com as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC.

Staples, and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Staples’s stockholders with respect to the transactions contemplated by the merger agreement between the Parent and Staples relating to the proposed acquisition. Information regarding Staples’ directors and executive officers, including their ownership of Staples’ securities, is contained in Staples’ Annual Report on Form 10-K for the year ended January 28, 2017 and its proxy statement dated April 20, 2017, which are filed with the SEC. Investors and security holders may obtain additional information regarding the direct and indirect interests of Staples and its directors and executive officers in the proposed transaction by reading the proxy statement and other public filings referred to above.

Safe Harbor for Forward-Looking Statements

Statements in this press release regarding the proposed transaction between the Parent and Staples, the expected timetable for completing the transaction, future financial and operating results, future opportunities for the combined company and any other statements about the Parent and Staples managements’ future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” estimates and similar expressions) should also be considered to be forward looking statements, although not all forward-looking statements contain these identifying words. Readers should not place undue reliance on these forward-looking statements. Staples’ actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which Staples may not be able to predict and may not be within Staples’ control. Factors that could cause such differences include, but are not limited to, (i) the risk that the proposed merger may not be completed in a timely manner, or at all, which may adversely affect Staples’ business and the price of its common stock, (ii) the failure to satisfy all of the closing conditions of the proposed merger, including the adoption of the merger agreement by Staples’ stockholders and the receipt of certain governmental and regulatory approvals in the U.S. and in foreign jurisdictions, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the proposed merger on Staples’ business, operating results, and relationships with customers, suppliers, competitors and others, (v) risks that the proposed merger may disrupt Staples’ current plans and business operations, (vi) potential difficulties retaining employees as a result of the proposed merger, (vii) risks related to the diverting of management’s attention from Staples’s ongoing business operations, and (viii) the outcome of any legal proceedings that may be instituted against Staples related to the merger agreement or the proposed merger. There are a number of important, additional factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including the factors described in Staples’ Annual Report on Form 10-K for the year ended January 28, 2017 and its most recent quarterly report filed with the SEC. Staples disclaims any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this press release.

Media Contacts:
Mark Cautela
508-253-3832
mark.cautela@staples.com

Investor Contact:
Scott Tilghman
508-253-1487
scott.tilghman@staples.com

Source: Staples, Inc.

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Florida Retail Federation supports Jose Felix Diaz for Senate District 40 in South Florida

Business-friendly Diaz is the choice in Senate District 40 for Florida’s premier retail industry association

TALLAHASSEE, FL, 2017-Jul-07 — /EPR Retail News/ — The Florida Retail Federation (FRF) PAC, the state’s premier trade association celebrating its 80th year of supporting Florida’s retailers, today (July 5, 2017 ) announced its endorsement of Jose Felix Diaz for the Florida Senate. Diaz, a Republican, is running for election in Senate District 40 in South Florida.

“Jose has been an advocate for business and retailing during his time in the House, including supporting legislation that created $500 million in tax relief, and the removal of burdensome regulations on small businesses,” said FRF President/CEO R. Scott Shalley. “We’re confident his support will continue when he’s elected to represent Senate District 40, and we look forward to working with him on future legislation that supports Florida’s 270,000 retailers.”

A native of Miami, Diaz recently served as the representative for House District 116. Jose developed his love for public service as student body president of his high school and college. While at the University of Miami, Jose was selected as Florida’s College Student of the Year. Soon thereafter, Jose went on to Columbia Law School where he received several notable distinctions including the American Bar Association’s Silver Key. Upon graduation, he returned to Miami to join the law firm of Akerman LLP, and was appointed to the American Bar Association’s legislative body, the House of Delegates.

ABOUT THE FLORIDA RETAIL FEDERATION 
The Florida Retail Federation is the statewide trade association representing retailers — the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.

CONTACT:

James Miller
james@frf.org
(850)701-3015

Source: Florida Retail Federation (FRF)

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BaFin approves the stock exchange listing for METRO Wholesale & Food Specialist AG

  • Exchange listing of the shares of new METRO expected by Mid-July 2017
  • Current METRO AG shares to become CECONOMY shares
  • Listing of the stock in the Prime Standard of the Frankfurt Stock Exchange intended

Düsseldorf, 2017-Jun-27 — /EPR Retail News/ — The Federal Financial Supervisory Authority (BaFin) has approved the stock exchange listing for METRO Wholesale & Food Specialist AG (future METRO AG). Following the positive decision by the Higher Regional Court of Düsseldorf (Oberlandesgericht), this is another step in the process of demerging METRO GROUP into two strong, successful and strategically focused companies. The shares of the new METRO AG are expected to be listed on the stock exchange by Mid-July 2017. According to current plans, the demerger of the former METRO GROUP into new METRO AG, a leading Wholesale and Food specialist, and the future CECONOMY AG, number one for Consumer Electronics in Europe, is expected to be entered into the commercial register by the middle of July. The former METRO AG is expected to be renamed CECONOMY following registration of the demerger. On the first day of trading, each shareholder in the previous METRO AG will receive a share in the new METRO AG in addition to their future CECONOMY share. These new shares are entitled to dividends for the financial year beginning 1 October 2016. The common shares of new METRO AG have the International Securities Identification Number (ISIN) DE000BFB0019 and the securities identification code (Wertpapierkennnummer – WKN) BFB 001; the stock code is B4B. The ISIN of the preferred shares is DE000BFB0027, the WKN is BFB 002 and the stock code is B4B3. Following successful completion of the registration, the custodian bank of the shareholders will credit the shares of new METRO to the custodian of the respective shareholder of the future CECONOMY.

“Our ambitious timetable is still fully on track, and we are now on the home straight: Two dynamic, clearly focused and well positioned companies in their industries will come into being. With the listing of new METRO planned for Mid-July 2017, both companies will now be able to grow independently and to position themselves in an agile and flexible manner”, says Olaf Koch, Chairman of the Management Board of METRO AG and future CEO of the Wholesale and Food Specialist business.

The shares of new METRO are expected to be listed in the Prime Standard on the Regulated Market of the Frankfurt Stock Exchange and on the Regulated Market of the Luxembourg Stock Exchange.

On 6 February 2017, the shareholders of METRO AG approved the demerger with an overwhelming majority at the Annual General Meeting in Düsseldorf. Following the allocation of the shares of new METRO and the acquisition of shares, the shareholders will be able to independently decide on an investment in the two shares of the future CECONOMY and the new METRO. The new METRO and future CECONOMY have been operationally independent since October 2016. The division allows both companies to act in a faster, more focused and more agile manner, in order to create more value for customers and shareholders.

The stock exchange prospectus is available to download at
www.metroag.de/en/investors/publications

The METRO GROUP Wholesale & Food Specialist Company (W&FS Co.) is an internationally leading specialist in wholesale and food retail. With its sales lines METRO Cash & Carry and Real as well as its other associated companies, METRO GROUP W&FS Co. operates in 35 countries and employs more than 150,000 people around the world. In 2015/16, METRO GROUP W&FS Co. achieved sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers.

This publication does not constitute an offer to sell or an invitation to purchase securities of METRO Wholesale & Food Specialist AG. No securities are offered or sold. The Securities Prospectus for the admission of the shares of METRO Wholesale & Food Specialist AG on the Frankfurt Stock Exchange and the Luxembourg Stock Exchange is available free of charge at METRO Wholesale & Food Specialist AG, Düsseldorf, Germany or at www.metroag.de/en/investors/publications.

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Source: METRO GROUP

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Kroger stores in the Atlanta ratifies new labor agreements with UFCW Local 1996

ATLANTA, 2017-Jun-19 — /EPR Retail News/ — The Kroger Co. (NYSE: KR) Atlanta division associates working at Kroger stores in the Atlanta metro and surrounding area have ratified new labor agreements with UFCW Local 1996.

“We are pleased to reach agreements that are good for our associates. These agreements provide good wage increases, affordable health care and stable pension funds to support our associates’ retirement,” said Bruce Lucia, president of Kroger’s Atlanta division. “These agreements come after thoughtful and productive work by both the company and union bargaining committees. I want to thank our associates for supporting these agreements and for the excellent service they provide to our customers every day.”

The contracts cover over 28,000 Kroger associates working in 164 stores in the Atlanta area and 11 stores in Savannah.

At The Kroger Co., we are dedicated to our purpose: to Feed the Human Spirit SM. We serve eight and a half million customers and 443,000 associates who shop or serve in 2,792 retail food stores under a variety of local banner names in 35 states and the District of Columbia. Our Family of Companies operates an expanding ClickList offering – a personalized order online service – in addition to 2,255 pharmacies, 782 convenience stores, 311 fine jewelry stores, 220 retail health clinics, 1,453 supermarket fuel centers and 38 food production plants in the United States. Our Company has been recognized as one of America’s most generous companies for its support of more than 100 Feeding America food bank partners, breast cancer research and awareness, the military and their families, and more than 145,000 community organizations including schools. As a leader in supplier diversity, we are a proud member of the Billion Dollar Roundtable.

SOURCE: The Kroger Co.

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Overstock.com supports H.R. 2887, The No Regulation Without Representation Act

Company Urges Legislators to Resolve Cross Boarder State Tax Regulation

SALT LAKE CITY, 2017-Jun-15 — /EPR Retail News/ — Overstock.com, Inc. (NASDAQ:OSTK) spoke in favor of H.R. 2887, The No Regulation Without Representation Act, introduced by Rep. Sensenbrenner (R-WI) today (June 13, 2017 ).

The company added this bill to the list of “reasonable” federal legislation it supports to answer the increasingly contentious state tax measures designed to force remote retailers to collect local and state taxes, regardless of physical presence in the taxing state.  The bill has the additional benefit of decreasing the burden of states’ recent cross-border forays into other areas of interstate commerce regulation, such as in manufacturing, labeling and product sourcing.

In recent years in the tax area, states have discriminated against remote internet retailers, attempting to force remote internet sellers into a different scheme of tax regulation, based on assessment of sales taxes at the residence of the purchaser, and not at the place of sale, as is the case in all of store-based, retail sales tax collection.

“The problem is the states want remote internet retailers to collect at the rates for the customers’ residences and not at the cash register. This significantly complicates things,” said Overstock Board member Jonathan Johnson. “Under the states’ schemes of collecting at each customer’s residence, a remote retailer faces a morass of more than 12,000 state and local tax districts—all with special, ever-changing provisions, and each with individual audit authority. Imagine being subjected to 12,000 tax audits!”

The U.S. Constitution allows states to conscript retailers into sales tax collection, but only if retailers have “physical presence” in the taxing state. By being present in the state, retailers get many state and local benefits and have a say in representation, but a remote retailer without physical presence gets no benefit and has no representation. Therefore, where a retailer lacks physical presence, U.S. Supreme Court decisions forbid states from forcing these retailers to collect sales tax.

In recent years, states reluctant to shoulder the burden of tax collection, have become more aggressive in passing legislation stretching the definition of what constitutes “physical presence.” Some have even unfairly assessed remote retailers for uncollected sales taxes, claiming after the fact, that remote retailers ought to have collected under these states’ self-serving laws establishing new and unorthodox definitions of “physical presence.” Additionally, some states openly flaunt Supreme Court precedents hoping to provoke Congressional action.

Maybe they now have.
“The No Taxation Without Representation Act draws a clear line, codifying what states may and may not define as ‘physical presence,’” Johnson said. “It’s reached the point where states consider virtually anything as physical presence. That’s simply not the law, and the idea that a state-created, stretch-definition can regulate interstate commerce is not only repugnant to the U.S. Constitution, but poses a threat of state cross-border regulation in many other sectors as well.”

While Overstock strongly opposes any expansion of states’ cross-border regulatory powers, Overstock supports fair federal solutions to the states’ tax collection problem. For many years, the company has worked on and supported Congressional measures to create a fair system to allow states to collect through remote internet retailers. The company supported both The Remote Transactions Parity Act of 2015, introduced by Rep. Jason Chaffetz (R-UT), and The Online Sales Simplification Act of 2016, circulated in a discussion draft last year by Rep. Bob Goodlatte (R-VA), Chair of the House Judiciary Committee. The company sees both these measures, as proposed, as offering states what they need, but not at retailers’ expense.

Johnson said, “We can support these, and other measures like them, because they do the work of simplifying the impossibly complex, overlapping system of state tax collection. The successful solution must be fair and workable for states and retailers.”

The company noted it strongly opposed the Senate-passed Market Place Fairness Act of 2013 because it failed the fairness test by having a discriminatory effect on remote sellers and it offered no real tax simplification.

About Overstock.com

Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ t0 platform : OSTKP) / Series B Preferred (OTCQB:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Worldstock.com, dedicated to selling artisan-crafted products from around the world by giving them access to our national customer base. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website.

O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc.  O.biz and Space Shift are also trademarks of Overstock.com, Inc.  Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact.  Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Form 10-K for the quarter ended December 31, 2016, which was filed with the SEC on March 3, 2017, and any subsequent filings with the SEC.

Media Contact:
Mark Delcorps
+1 (801) 947-3564
pr@overstock.com</a

Investor Contact:
ir@overstock.com

Source: Overstock.com, Inc./globenewswire

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NRF condemns House Ways and Means proposal to phase in Border Adjustment Tax over five years

Brady Suggestion Remains a ‘Massive Middle Class Tax Hike’

WASHINGTON, 2017-Jun-14 — /EPR Retail News/ — The National Retail Federation today (June 13, 2017) condemned a proposal by House Ways and Means Chairman Kevin Brady to phase in a Border Adjustment Tax over five years.

“Phasing in a job-killing plan like the Border Adjustment Tax does nothing to fix its many flaws,” NRF Senior Vice President for Government Relations David French said. “It is a massive middle class tax hike based on unproven economic theory, and doing it more slowly won’t make it any less harmful to millions of American workers. If Chairman Brady is truly listening to his colleagues in the House and the Senate, he will drop the proposal altogether and move on with a new tax reform plan that can win majority support in Congress and gain the President’s signature.”

The United States has one of the highest corporate tax rates in the world and NRF has led the retail industry in advocating for comprehensive tax reform that would broaden the tax base and lower the rate. Retail benefits from few of the tax breaks that lower tax bills for other industries, and most retail companies pay at or close to the full 35 percent rate.

The “Better Way” tax reform plan proposed by House Speaker Paul Ryan, R-Wis., and Ways and Means Committee Chairman Kevin Brady, R-Texas, includes a provision that would, in effect, create a 20 percent border tax on imported goods by ending retailers’ ability to deduct the cost of merchandise that they import. That means retailers would be taxed at nearly the full selling price of imported merchandise rather than just their profit.

The border adjustment tax would have significant implications for retailers and other industries that rely on complicated global supply chains, including automobiles, technology, food and fuel. Analysis by NRF and many of its member companies indicates that the proposed tax would drive up costs, erode profits and exceed any benefits from a lower corporate tax rate. It would require consumer price increases of 15 percent or more to retain profitability, effectively creating a new tax paid by consumers.

The BAT would also put at risk millions more retail-supported jobs than it would theoretically create for manufacturing. A BAT could cause retailers to see tax bills three to five times the amount of their profits, threatening to drive some merchants out of business. The small retailers that make up 98 percent of the retail industry and provide 40 percent of its jobs would be at the biggest risk.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s econom

Contact:
Robin Roberts
press@nrf.com
(855) NRF-Press

Source; NRF

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RILA announces support for the Financial CHOICE Act

Arlington , VA, 2017-Jun-09 — /EPR Retail News/ — Today ( 6/8/2017), the Retail Industry Leaders Association (RILA) announced its support for the Financial CHOICE Act, urging lawmakers to take an important first step in addressing regulatory reform in the financial services sector. Austen Jensen, vice president for government affairs, issued the following statement regarding the retail community’s support for the House vote.

“In the wake of the financial crisis it was vital for Congress to act to assure the American people that our financial markets were stable and that a new regulatory apparatus would prevent another systemic problem. While well intended, several of these regulations have had a negative impact on community banks and other financial institutions that were never at the root of the financial collapse in 2008. The CHOICE Act takes the first step toward reconciling the need to treat mega-banks and Wall Street differently than Main Street financial institutions.

“Preserving swipe fee reform was a big win for retailers and consumers across the country. No retailer—big or small—received a bailout during the Great Recession, and we support provisions of the CHOICE Act that seek to ensure that Americans are never again forced to bail out failing financial institutions.”

RILA is the trade association of the worlds largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.

Contact:
Jason Brewer
Executive Vice President, Communications & State Affairs
Phone: 703-600-2044
Email: jason.brewer@rila.org

Source: RILA