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Duane Reade wins IBM Retail User Group’s Retail Innovation Award
Strongsville, Ohio -- The IBM Retail User Group announced Thursday that drugstore retailer Duane Reade is the winner of its 2011 Retail Innovation Award.
The award, which was accepted by Richard Gilbert, director of store systems for Duane Reade, was presented at the User Group’s 34th annual conference in Orlando, Fla., in May.
The innovative solution provider Retail Tech jointly with RTC Group and Agilysys were also honored with the 2011 Retail Solution Innovation Award.
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NRF: ‘Extremely disappointed’ in swipe-fee regulations set
Washington, D.C. -- The National Retail Federation said Thursday that it is disappointed in the final debit card swipe-fee regulations set by the Federal Reserve.
Under the new rule, the current debit card swipe-fee rate of 1%-2% of each transaction will be replaced with a flat fee of not more than 21 cents per transaction for the nation’s largest banks -- substantially higher than the flat fee of up to 12 cents the Fed originally proposed in December 2010.