Consumer Affairs & Relations

Waban, Mass. -- Research results released Monday by Temkin revealed that, based on a study of 10,000 U.S consumers, American Express and USAA earned the top spots in the credit card sector.

According to the 2013 Temkin Experience Ratings, HSBC was the lowest rated credit card issuer for the third consecutive year.

"USAA and American Express set the pace for customer experience in credit cards while HSBC is a real black sheep in the industry," said Bruce Temkin, managing partner, Temkin Group.

Minneapolis -- Shortly after abandoning buyout possibilities of his former company, Best Buy co-founder and former chairman Richard Schulze announced Monday that he is returning to the retailer as chairman emeritus.

Schulze, who is Best Buy’s largest shareholder, is nominating two former Best Buy executives to join him on the board: former CEO Brad Anderson and former COO Al Lenzmeier.

New York -- A Monday report by Reuters said that Limited Brands has temporarily changed its name to L Brands Inc. The report cited a Friday regulatory filing.

The operator of Victoria's Secret and Henri Bendel is implementing a pre-planned transition process that was required after the 2010 sale of Limited Stores, LLC.

The company is expected to announce a new permanent name in the coming months.

New York -- Howard Schultz, founder and CEO of Starbucks Coffee Company, has never been one to shy away from taking a stand. Last week, at the chain’s annual meeting of shareholders in Seattle, one shareholder questioned Schultz over the company’s support of same-sex marriage, including the same-sex marriage referendum in the state of Washington.

BENTON HARBOR, Mich. — Whirlpool announced that its Gold Series Dishwasher with PowerScour, as well as four other Whirlpool Gold Series Dishwashers, earning the Good Housekeeping Seal by the Good Housekeeping Research Institute (GHRI). 

This announcement comes on the heels of the GHRI awarding Whirlpool Gold® gas and electric ranges with TimeSavor Convection cooking with the Good Housekeeping Seal.

LOS ANGELES — U.K.-based Tesco has lost up to $2 billion in its failed Fresh & Easy California venture, according to a report by the Los Angeles Times — Tesco had placed the troubled grocer on the sales bloc in December following the departure of Fresh & Easy CEO Tim Mason. 

The retailer's struggles can be traced to labor unions and an ambitious investment into an 850,000-sq.-ft. distribution center that placed pressure on the 200-store chain to expand rapidly, according to the LA Times report. 

New York -- Tiffany & Co.’s fourth-quarter net income inched up 0.7%, but its results still topped analysts’ predictions as strong demand in Asia helped to offset domestic weakness. The company also offered an annual sales outlook that topped analysts' estimates, citing its strong prospects in most Asian markets.
    
For the quarter ended Jan. 31, Tiffany earned $179.6 million, compared with $178.4 million in the year-ago period. Revenue increased 4% to $1.24 billion.
     

WASHINGTON — The National Retail Federation has released the following statement from NRF President and CEO Matthew Shay in support of the Jobs Originated Through Launching Travel (JOLT) Act:

“With the average international tourist spending well over $4,000 shopping in our stores, staying at our hotels, and eating at our restaurants, efforts aimed at encouraging more foreign travel is a simple way to spur economic growth and job creation. This is especially true in the retail industry.

Allow me to be the group historian for a minute. Does anyone remember, in 1984, the "Crafted with Pride in the U.S.A." advertising campaign, spearheaded by the late Roger Milliken, and funded by a consortium of fiber, chemical and textile companies? This was supposed to have instilled enough patriotism in the consumer to buy goods made in America at a furious enough rate to keep manufacturing here on our soil.

New York -- Eddie Lampert, chairman of Sears Holding Corp., has signed a contract to remain as CEO of the retail company at a salary of $1 per year, the Associated Press reported. Sears announced in January that Lampert would take over as CEO after Louis J. D'Ambrosio stepped down due to family health issues.
    
Lampert’s new contract is effective Feb. 1, according to a regulatory filing yesterday. Lampert also has the opportunity for a bonus of up to $2 million in cash or stock and up to $4.5 million in stock per year.