Consumer Affairs & Relations

Increased online and offline competition is giving arts and crafts leader Michaels Cos. a run for its money.   The company's profit fell 20% to $67 million, or 38 cents a share, in the first quarter ended April 29, down from $85 million, or 34 cents a share, a year ego. Its results missed analysts' expectations.    Total sales were flat at $1.16 billion, also less than expected. Same-store sales fell 1.2%  

Walmart shared the results of its 47th annual shareholders meeting held June 2.  

Duluth Holdings is losing its finance chief.    Mark DeOrio, the company’s CFO, will retire at the end of 2017. DeOrio will remain in his role until the next finance chief is appointed, and he will then assist with his successor’s transition until his retirement. DeOrio has held the role since August 2010. He also served as senior VP of operations from 2010 to January 2015.   

A lawsuit accusing a natural-foods grocer of overcharging customers has been revived.   On Friday, June 2, the 2nd U.S. Circuit Court of Appeals in New York City ordered Whole Foods Market to face a proposed class-action lawsuit accusing it of overcharging shoppers in New York City. The suit claims the chain overstated the weight of pre-packaged food in its supermarkets, according to Reuters.  

In effort to dig out of its sales funk and rebuild its brand, Michael Kors plans to shutter more than 100 full-price stores.  

As retail operators return to work this week after what was hopefully a busy Memorial Day weekend for them, they should be encouraged by some rare good news out of Washington, D.C. The industry had some big wins last week on very important issues. Republican House leaders wisely decided to remove language from the popular CHOICE Act that would have repealed the debit card swipe fee reforms the industry fought hard to pass in 2010.  

Wary about business conditions and jobs, consumer confidence dipped a bit further in May. But consumer still remain optimistic on the whole about the economy.     The Conference Board said Tuesday that its Consumer Confidence Index fell to 117.9 in May, from a revised 119.4 in April. The index hit 124.9 in March, its highest mark in 16 years.  

Chipotle Mexican Grill is coming clean about a cyber-attack that targeted the chain last month.   An extensive investigation lead by leading cyber security firms, law enforcement and the payment card networks revealed that malware accessed payment card data used at point-of-sale (POS) devices at certain Chipotle and Pizzeria Locale restaurants between March 24 and April 18. Not all locations were involved, and the specific timeframes vary by location, according to the chain.