Consumer Affairs & Relations

American Greetings is delaying plans to develop a new world headquarters pending the resolution of a buyout proposal from CEO Zev Weiss and other members of management.

American Greetings board of directors believed it was advisable to temporarily delay the project in light of the proposal from Weiss, president and COO Jeffrey Weiss and other members of the Weiss family to take the company private.

Costco will pay a $7 a share special dividend before year end as it looks to return cash to shareholders in advance of what is expected to be a 2013 tax increase on dividend payments.

The total payout will amount to about $3 billion and is extraordinarily generous. Especially considering Costco’s net cash provided by operating activities for its fiscal year ended September 2, was only slightly more than $3 billion and cash, cash equivalents and short term investments totaled $4.854 billion.

Washington, D.C. -- A report released Tuesday by the Conference Board showed that consumer confidence rose in November to the highest level in more than four years.

The confidence index climbed to 73.7, the highest since February 2008, from a revised 73.1 reading the prior month, indicating that U.S. household spending will keep growing.

A median forecast of 75 economists surveyed by Bloomberg projected a reading of 73.

With an eye on expansion, both from customer engagement and operational perspectives, retailers are eager to revitalize their brands and overall shopping experiences, according to industry experts. The upcoming 102nd annual NRF Convention & EXPO, produced by The National Retail Federation, Washington, D.C., promises to educate attendees on these and other business strategies.

By Phillip M. Perry

Overcast with clearing skies — That’s the economic forecast from a major research firm as retailers enter a new year. Drizzly conditions will remain at least for the first half of 2013 as consumers hold tight to their pocketbooks. By the summer, though, light should break through the clouds as the resolutions of critical national uncertainties encourage corporate hiring, capital investment and consumer spending.

Washington, D.C. -- On Tuesday, a majority of named class plaintiffs filed a notice of appeal to challenge a ruling from the U.S. District Court for the Eastern District of New York granting preliminary approval to a proposed settlement of a long-standing antitrust class action filed by merchants against Visa, MasterCard and the largest banks. The merchant group will ask the U.S. Court of Appeals for the Second Circuit to deny preliminary approval due to the legal defects in the proposed settlement.
 

New York -- According to a Tuesday report by Bloomberg, Wal-Mart Stores Inc. has terminated a supplier that made apparel at the Bangladesh factory where an estimated 124 people died in a fire on Nov. 24.

The Tazreen Fashion-owned factory will no longer produce merchandise for Walmart, according to the report, which also stated that Tazreen subcontracted work without Wal-Mart Stores’ authorization. The supplier has not been named.

By Randy Frischer and Patricia Brandstetter