Legislative, Regulatory & Legal

The National Retail Federation and the Retail Industry Leaders Association are throwing its support behind the tax reform proposal released Wednesday by the Trump administration and congressional leadership.   According to the NRF, the measure could provide a major boost for the nation’s economy.  

Wages

Massachusetts: A joint committee held a hearing on a bill that would increase the minimum wage by $1/hr. each year until it reaches $15/hr. in 2021. The bill would also phase out the tip credit over an eight year period. The legislature may feel more pressure to act now that a $15/hr. wage increase has been approved for the 2018 ballot.   

Walmart and Target are among the companies pressuring political leaders to find a solution for the roughly 800,000 immigrants known as “Dreamers.”  

Walgreens Boots Alliance secured regulatory approval for a deal to buy stores from Rite Aid Corp. after a reduction in the number of stores and price. The deal will still enable Walgreens to dramatically increase its store footprint, giving it a total of about 10,000 U.S. locations.   

It's looking increasingly likely that Toys "R" Us may turn to Chapter 11 bankruptcy protection as a way to deal with its massive debt load.    With about $400 million of its $5 billion debt coming due in 2018, the struggling toy retailer could file for bankruptcy as soon as this week, CNBC reported. https://www.cnbc.com/2017/09/18/toys-r-us-could-file-for-bankruptcy-as-soon-as-this-week-sources-say.html  

Wages

Walgreens Boots Alliance is reportedly tweaking its previously announced deal with Rite Aid Corp.  

Despite the ramping up of global data regulations, most consumers are concerned about how companies collect and use their information.   In fact, an overwhelming 96% of consumers are "somewhat" to "extremely" concerned about data collection and usage. This is understandable, as more than 75% engage in digital payment transactions at least once a month.