Consumer Affairs & Relations

Florida's largest supermarket chain on Tuesday reported higher sales and revenues for its second quarter. Prior to releasing its results, the company cut the price of its stock.   Publix’s sales in the second quarter rose 3.6% to $8.4 billion, from last year’s $8.1 billion. Same-store sales increased 1.6%.      Net earnings increased 3.5% to $495.1 million, compared to $478.2 million in the year-ago period.    

It's only July, but GameStop has jumped into the ongoing debate about whether stores should be open on Thanksgiving Day.    After keeping its stores closed on Thanksgiving for the past three years, the retailer has told its employees that stores will be open for this year's holiday. The change was first reported by gaming website Kotaku.   

Finally, an experiential retail breakthrough for the guys!   The 3 million-sq.-ft. Global Harbor Mall in Shanghai, one of Asia’s largest, has installed “husband pods” to keep men occupied while their wives or other domestic partners shop.   Each pod is padded out with a comfortable gaming chair, state of the art monitors, computer, and gamepad where the retail-weary can while away an hour playing vintage games from the Nineties.   

Staples met the first requirement on its road back to private ownership.   The office supplies giant, which is being acquired by private equity firm Sycamore Partners, has been granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This act states that no merger or acquisition can take place until the United States Federal Trade Commission and Department of Justice have determined that the filed transaction will not violate U.S. commerce antitrust laws.   

Despite the failure of a “skinny” repeal healthcare bill in the Senate, the National Retail Federation remains committed to fixing the Affordable Care Act.  

Macerich CEO Arthur Coppola had the potential for total compensation worth about $12 million in 2016, but his company’s recent proxy filing showed him receiving less than half of that.   Coppola is just one of many senior executives of publicly traded mall-owning companies to feel the sting brick-and-mortar’s right-sizing in his pocketbook, according to a report in the Wall Street Journal.   

The import tax proposal has officially been removed from the tax reform plan — which is welcome news for retailers across the industry.   On Thursday, congressional and administration leaders announced they would remove the Border Adjustment Tax (BAT) from consideration, and announced an outline for comprehensive tax reform. The BAT provision would have ended importers’ ability to deduct the cost of merchandise purchased from other countries.   

Death knells for B-Class malls are rung regularly by the general business press and tech pundits, but a major ratings service is telling investors to hold off on funeral plans.   “There’s certainly been far more store closings in 2017 than in previous years…but I think it’s fair to say that investors are comfortable that bricks-and-mortar retail won’t disappear,” said Fitch Ratings managing director Huxley Somerville in a video released by the company this week.  

Investors at the nation’s largest rent-to-own company are their losing patience.   Activist hedge fund Marcato Capital Management LP demanded in a letter on Tuesday, July 25, that Rent-A-Center start the process of selling itself. If the company doesn’t, the hedge fund threatened to throw out board members up for re-election at next year's annual meeting, according to Reuters.