Trading Partners

New Delhi, India – The Indian government has eased its notoriously difficult restrictions on how foreign retailers must invest and source when doing business in the country. As reported by Reuters, foreign retailers will still have to source 30% of the products they sell locally, but now have five years to initially reach that goal and then have to meet it annually.

New York – The long-running legal dispute over whether J.C. Penney has the right to sell Martha Stewart Living products appears to be nearing a conclusion. The Wall Street Journal reports that lawyers for Macy’s, which is suing Martha Stewart Living Omnimedia alleging a breach of contract giving Macy’s exclusive rights to sell Martha Stewart Living, Martha Stewart Living Omnimedia, and Penney, which may face fines and/or a ban on selling Martha Stewart Living products, all gave closing arguments in New York State Supreme Court yesterday.

New York -- J.C. Penney on Thursday said that reports claiming CIT Group Inc., the largest lender in the apparel industry, had stopped funding some shipments to Penney were untrue. The retailer said it has plenty of cash on hand and all major suppliers were still shipping.

“J.C. Penney continues to have the support of all of its key vendors, who have maintained their shipments to the company," the company said in a statement on Thursday.

CINCINNATI, Ohio — Henkel Consumer Goods Inc., a provider of leading consumer brands such as Dial, Purex, Soft Scrub and Right Guard, plans to leverage Datalliance VMI’s platform for its expanding consumer goods Vendor Managed Inventory program.

New York -- CIT Group Inc., the largest commercial lender in the U.S. apparel industry, has stopped supporting deliveries from smaller manufacturers to J.C. Penney stores, the New York Post reported on Wednesday.

The reason for the crackdown could not be immediately confirmed, the report said, but insiders speculated that CIT got nervous after getting a peek at Penney’s financials.

WASHINGTON — The National Retail Federation has issued a statement from SVP and general counsel Mallory Duncan on U.S. District Judge Richard Leon’s decision regarding swipe fee reforms. The judge found that the Federal Reserve misapplied Congress’ intent when it implemented the required reforms. 

Boca Raton, Fla. – Private home builder David Weekley Homes has presented Office Depot with its Partners of Choice Award. The award is presented to companies that receive the highest marks from approximately 600 David Weekley Homes employees from all levels of the organization.

SAN DIEGO, Calif. — The Shareholders Foundation has announced that an investor who currently holds Maidenform shares filed a lawsuit to halt the proposed takeover of Leap Wireless International by HanesBrands for $23.50 per share.

Investors who purchased shares of Maidenform Brands prior to July 24, 2013 and still hold them are being asked to contact the Shareholders Foundation at [email protected] or 858-779-1554.