Legislative, Regulatory & Legal

Dhaka, Bangladesh – Owners of garment factories in Bangladesh are reportedly prepared to raise the minimum wage they pay workers from 50%-80% and ask retailers to pay at least some of the extra cost.

According to Reuters, factory owners have offered a minimum wage of about $46 per month. Workers have requested a minimum wage of about $102 per month, and the government is expected to order an increase in a middle range of $54-$66 per month. Current minimum wage is about $39 a month.

Boca Raton, Fla. - The Federal Trade Commission (FTC) is reportedly set to approve the proposed merger between Office Depot and OfficeMax after concluding it will not significantly affect competition in the office retailing space. According to multiple press reports, the deal will go through without either company having to divest any holdings.

New York -- Martha Stewart Living Omnimedia and J.C. Penney Co. on Monday announced a revised commercial agreement covering their licensing and design partnership. The new agreement scales back Penney’s partnership with Martha Stewart Living.
    
It was not clear how, if at all, the revised agreement could affect the companies’ ongoing lawsuit with Macy’s.
    

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Chicago -- Although the first government shutdown in 17 years lasted 16 days, it left an impact on more than just the workers sent home after lawmakers failed to arrive at a deal to end the spending and debt stalemate. Total retail store shopper traffic during the week of Sept. 29 to Oct. 5 decreased 7.5% compared to the same time period last year, according to ShopperTrak, a leading provider of shopper analytics.

The Washington, D.C. area saw an even greater decrease, with an 11.4% decline in year-over-year shopper traffic the week of Oct. 6-12.

Issaquah, Wash. – Costco Wholesale Corporation is reportedly cooperating with the U.S, Drug Enforcement Administration (DEA) in an ongoing investigation of prescriptions for controlled substances. According to Reuters, the DEA served Costco with warrants and subpoenas related to the investigation.

Costco announced its cooperation in an SEC filing and has made no other public comment. The DEA has been investigating pharmacy chains and distributors across the country in regard to prescription drug misuse and abuse.

 

Columbus, Ohio - On Oct. 14, 2013, shareholders of DSW Inc. approved a two-for-one stock split of DSW's common shares, along with approving an increase in the number of Class A common shares authorized for issuance. The company plans to effect the stock split on Nov. 2, 2013, by filing an amendment to its articles of incorporation.  

New York -- Walmart brought together 10 moms in Nashville, Tenn., on Wednesday night to air their thoughts about the economy , the federal government and their own household incomes. The gathering — one of several that occurred in different locations throughout the nation — was part on an annual focus group organized by the chain, reported CNNMoney. This year, the discussion focused on a subject very much in the headlines: budgets.