Corporate Governance

NRF and retailers to U.S. Supreme Court: Let swipe card fees ruling stand
Payment card fees is a sore subject for the retail industry — especially with the possibility that a settlement is being revisited by parties seeking an appeal. The National Retail Federation and the Retail Industry Leaders Associa-tion requested that the U.S. Supreme Court let stand an appeals court rul-ing that struck down a controversial 2012 settlement of a class action lawsuit over Visa and MasterCard’s swipe card fees.
Chico’s turns a profit in Q4
Better inventory management and reduced promotions are helping to keep Chico’s FAS on the right financial path. For the 13 weeks ended January 28, 2017, Chico’s reported net income of $13.5 million compared to a net loss of $21.1 million for the same period last year.

Havertys beats Q4 estimates

Better control over pricing and inventory helped boost Havertys fourth quarter earnings, beating analyst expectations. Net sales for the quarter ended December 31, 2016, increased 2.2% to $220.6 million, compared to analyst expectations of $220.61 million. Same-store sales rose 2.5%, and the average written ticket was up 2.6%, while custom upholstery written business rose 1.9%.
Report: Lowe’s terminates more than 500 employees

Lowe’s is the latest retailer making job cuts. The home improvement retailer has laid off more than 500 full-time corporate employees company-wide — its latest effort to streamline the company and boost profitability, the Charlotte Observer reported.
Discounter preps for new warehouse in New York

Staying true to its recently announced growth plan, Dollar General is preparing to break ground on a new distribution center.
Connected devices: The new point-of-sale?

Visa and IBM have a vision — that any device connected to the Internet of Things can securely process payments. And this means “any device.”
TJX continues its amazing winning streak

It’s a record that most retailers are envious of, particularly in today’s competitive and disrupted marketplace. TJX Cos. on Wednesday posted its 21st consecutive year of same-store sales increases, as well as better-than-expected income and revenue results for its fourth quarter. The off-price retailer also raised its quarterly dividend and announced a share repurchase program.
Analysis: Macy’s making some progress

Neil Saunders, managing director of GlobalData Retail, comments on Macy’s fourth quarter results:
Report: Messaging app provider tries its hand at e-commerce

Snapchat users may be in the market for a new gadget to share their pictures — a new way to purchase it. Snap, the parent company of the SnapChat messaging platform, launched a new e-retailing site, Spectacles.com, which highlights brightly colored, whimsical video-recording sunglasses, ReCode said.
Amazon ups the ante on the free shipping race

Amazon has again raised the stakes in the home shipping war. Almost a year after raising its free shipping minimum for non-Prime customers from $35 to $50, Amazon subtly announced on its website that it is once again honoring free shipping on orders of $35.
Report: Layoffs at Toys ‘R’ Us

Toys “R” Us is the latest company to downsize its workforce. The toy retailer laid off between 10% and 15% of the employees at its Wayne, New Jersey headquarters — approximately 250 jobs — on Friday, Feb. 17, Forbes said.
Sporting goods retailer gears up for new store openings

Dick’s Sporting Goods is expanding its breadth. The chain is preparing to open five stores during the second week of March, a move totaling approximately 180,000 sq. ft. of retail space. Specifically, a new Dick’s Sporting Goods will open in the Glendale area of Queens, New York, in one of the former Sports Authority locations that the company took over late last year. Another Dick’s store will open in Hinesville, Georgia.