 | June 30, 2011 | News for the retail industry |  |  | |
- Fed raises cap for swipe fees, delays change to Oct. 1
Retail groups were disappointed with the Federal Reserve's Wednesday decision to cap per-purchase swipe fees on debit-card transactions at 21 cents, more than the 12 cents it proposed earlier but about half the amount retailers and restaurants now pay on the average debit-card purchase. The Fed also said it will push back implementation of the change to Oct. 1. "The Fed essentially took what had been a win and turned it into a loss," said NRF's general counsel Mallory Duncan. USA TODAY (6/29), The New York Times (tiered subscription model) (6/29), Bloomberg (6/30)        | Ad Compliance Best Practices Kit — Stay ahead of consumer concern and government regulation with TRUSTe. Gain an overview of what Behavioral Advertising (OBA) is, why it is important, and what your options are. Insights from the FTC, DAA, TRUSTe, Forbes, Publisher's Clearing House and more. Register Now. |
 - Walgreens expansion to create 600 jobs in Chicago
Walgreens plans to open new stores in Chicago and remodel 142 existing ones will bring about 300 new jobs to the city in the next few years, and the chain plans to add another 300 employees at its downtown offices to handle its growing e-commerce efforts, the company said. New and remodeled stores will include expanded food sections that promise to bring fresh options to neighborhoods that don't have easy access to supermarkets. Chicago Tribune (6/29) - Wal-Mart cuts gas prices for card-carrying customers
Wal-Mart shoppers using the retailer's gift cards, MoneyCards or store-brand credit cards will get a 10-cent-per-gallon discount on gas this summer, the company said. Other chains including Kroger, Safeway and Costco offer gas discounts to loyal customers, a promotion designed to drive gas customers inside to spend more in the stores. Reuters (6/29)  | You may be considering a cloud computing solution or in the midst of specifying one or even implementing a solution. Read this paper to see what IBM discovered about how companies like yours are adopting, implementing and using cloud computing solutions. Learn about the current rate of adoption, drivers, barriers, and considerations that are influencing the adoption of cloud computing. |
 - Better fakes fool even savvy fashion shoppers
Counterfeiters are creating better-quality knockoff purses, fashions and accessories that are fooling even style-savvy shoppers. Unlike obvious fakes, the newer versions include detailing that make them look much more like the real thing and, although they're still priced at a fraction of what an original would cost, prices are rising for the pieces on eBay and other e-commerce sites. The Wall Street Journal (tiered subscription model) (6/30) - Retailers likely to keep holiday inventories lean
A surge in early season holiday shopping last year buoyed retailers' hopes and sent them scurrying to increase inventories only to mark them down later in the season, a fate they hope to avoid this year by taking a more conservative approach to inventory levels, executives said at a retail summit this week. "My belief is that many retailers ended up with too much inventory last Christmas. They were kind of fooled by false optimism that the economy had already recovered," said Toys "R" Us CEO Jerry Storch. Reuters (6/29) - Survey: Chinese consumers profess a "love" for clothes shopping
 Americans may have a reputation for being the ultimate consumers, but twice as many Chinese as Americans say they "love" shopping for clothes, according to a recent Harris Interactive poll. Chinese consumers also professed a passion for high-end brands, with 70% saying brand names were an important factor in buying decisions compared with 30% of U.S. respondents. Forbes/ChinaTalk blog (6/29)  | Could your CRM deliver better ROI?
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 - Retail chains balance in-store, online development
Executives from retail chains including Lululemon, Children's Place and Ulta Cosmetics aren't giving up on brick-and-mortar store expansion, even as online sales make up a growing percentage of their sales. "E-commerce and stores don't compete, they work together. Lots of customers like to browse online and come into the store, so we don't see e-commerce cannibalizing the stores," said Lululemon CFO John Currie. Reuters (6/29)   | Main Street |  | | | - Strategies for saving on shipping costs
Shipping can be a complex and expensive task when you don't do it regularly, but Jason Fell rounds up five expert tips for cutting costs. When you're shipping more than 150 pounds but less than 20,000 pounds, for instance, freight consolidators can save you big bucks by combining your shipment with others to qualify for full-truck rates. Entrepreneur.com (6/27)
| NRF News | | | | - NRF "seriously disappointed" in Fed's swipe fee ruling
In what's being called a major loss for consumers, the Federal Reserve set final debit card swipe fee regulations at 21 cents per transaction, nearly double the 12 cents it originally proposed in December. "We are extremely disappointed that the Federal Reserve chose to be influenced by special interests and ignored the will of Congress and American consumers," said NRF President and CEO Matthew Shay. "While the rate will provide modest relief, it does not go far enough." Read more. - NRF SmartStat: June 30, 2011
 More than 22,000 people are expected to attend Retail's BIG Show next January in New York. Source: NRF. - NRF's Neil Trautwein discusses court ruling on health care mandate
A U.S. appeals court on Wednesday upheld President Barack Obama's healthcare law by ruling Congress had the power to require that Americans buy insurance. In a blog post, NRF's Neil Trautwein says the verdict is wrong but was expected, describes how he thinks the health care law will continue to advance in the court system, and discusses NRF's efforts to drive down the cost of health care coverage. Read more.
| Chain Restaurant News | | | | - Feds changes to swipe-fee rules disappoint restaurant groups
The Federal Reserve's decision to set swipe-fee caps at 21 cents per debit-card transaction disappointed restaurant groups that hoped to see the Fed stick to the 12-cent limit it proposed earlier. "It's perplexing. Based on what Congress had directed the Fed to reflect in its deliberations, we think it deviated from its original proposal," said Rob Green, executive director of NRF's National Council of Chain Restaurants. Nation's Restaurant News (free registration) (6/29) - Olive Garden trades fries for fruit, shakes for smoothies
Olive Garden revamped its children's menu this week, dropping fries in favor of grapes as a side dish and replacing milk shakes with lower-calorie smoothies in an effort to create healthier meals. The move was in response to feedback from guests and not because of a new law that will require the chain to start posting nutrition information, a spokeswoman said. Orlando Sentinel (Fla.) (6/29)  | |  | | | | |  |  Retail Business Analyst | Claire's | Hoffman Estates, IL | | New Account Sales Representative | One Step Retail Solutions | Nationwide, United States | | Merchandise Planner Analyst | Headquarters Marine Corps MWR & Business Operations | Quantico, VA | | Senior Merchandise Planner Administrator | Headquarters Marine Corps | Quantico, VA | | Senior Manager, Training & Development | Total Wine & More | Potomac, MD | | Manager Replenishment & Allocations | Five Below | Philadelphia, PA | | Learning Alignment Consultant (Performance Consultant) | Petsmart, Inc | Phoenix, AZ | | EH&S Manager | Vera Bradley Designs | Fort Wayne, IN | | Advanced Retail Manager (Training) | Army & Air Force Exchange Service | Dallas, TX | | Store Manager (Deploy) | Army & Air Force Exchange Service | Dallas, TX | | Retail Training & Development Manager | Goodwill Industries of the Southern Rivers | Columbus, GA | | Business Intelligence Sr Retail Industry Analyst | Army & Air Force Exchange Service | Dallas, TX | | Senior Manager Retail Marketing | The Timberland Company | Stratham , NH | | Fashion Buyer | Target | Minneapolis, MN | | Licensed Product Manager | Harley-Davidson | Milwaukee, WI | | Senior Internet Buyer | Tween Brands | New Albany, OH | | Manager General Merchandise #792BR | Harley-Davidson | Milwaukee, WI | | IS Manager Store & DC Support | PetSmart | Phoenix, AZ | | Project Manager | Limited Brands | Columbus, OH | | Manager IS Data Center & Windows | PetSmart | Phoenix, AZ | | Store Infrastructure Architect | PetSmart | Phoenix, AZ | | | |  | |  |
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