Trading Partners

The National Retail Federation is pressing for a further reduction in per transaction fee banks charge retailers when customers use debit cards five years after the Federal Reserve cut the fee in half.

In a letter the National Retail Federation sent to the Federal Reserve the trade group said the cap on debit card swipe fees enacted by the Federal Reserve five years ago has helped reduce costs for retailers and consumers but is still higher than intended by Congress and should be lowered.

With the retail environment changing so rapidly today, and technology impacting everything a store does, the role of the chief financial officer has become more important than ever. When I started recruiting in 1990, the business was much simpler — we hired retail executives based on a linear skillset and departments operated in individual silos. Today, it is much more complex, as the C-suite works in collaboration to keep up with an increasingly savvy consumer.

So, what then do you look for in a CFO today?

Photo: Arthur Valdez

Macy's has added an expert in real estate investments its board as the department store retailer remains under pressure from an activist investor to spin off some of its real estate into a real estate investment trust.

The CEOs of Staples and Office Depot penned a letter to customers which reveals the extent of their deteriorated relations with the Federal Trade Commission ahead of a hearing that begins March 21 that will determine whether the retailers are allowed to merge.

In the letter, Staples chairman and CEO Ron Sargent and Office Depot chairman and CEO Roland Smith stop short of actually calling the FTC stupid, but that is the inference from more diplomatically worded prose.

Meeting Walmart’s product information requirements is not always easy for its suppliers, but the retailer is providing a new option that may make things a little simpler.

Walmart is integrating with product content technology provider Shotfarm. Walmart suppliers can now use the Shotfarm Switch Marketplace platform to directly connect with the retailer. This means suppliers can work with requirement such as the Walmart Spec program, which details the required, recommended, and optional data attributes suppliers must provide for their products.

Target announced Wednesday its board of directors elected Monica Lozano as a new director, effective immediately. Lozano is the former CEO of ImpreMedia, one of the largest media companies serving Hispanic communities in the U.S.

Citing union sources, The Bellingham Herald on Tuesday reported that Albertsons is prepared to acquire the remaining core stores of Haggen with the blessing of the Federal Trade Commission. "It appears that other bidders are not going to raise their bids or otherwise make them qualified bids, so the scheduled auction is cancelled and the sale to Albertsons will be put before the court for approval in the next week," representatives of Haggen union workers released in a statement.

Costco Wholesale Corp. is raising entry-level wages for its hourly workers for the first time since 2007.

The move comes as other major retailers have been upping the minimum wages for their entry-level workers amid a tightening job market.

Starting this month, Costco will pay workers $1.50 more per hour in the U.S. and Canada. Workers will now earn at least $13 or $13.50 per hour, up from a minimum of $11.50 or $12 per hour.