Legislative, Regulatory & Legal

By Gary Glick, partner, Cox, Castle & Nicholson LLP

ARLINGTON, Va. -- The passage of comprehensive tax reform and a more level playing field between online retailers and Main Street retailers for sales tax collection top the Retail Industry Leaders Association’s public policy priorities for 2013.

According to RILA, the retail industry pays among the highest domestic effective tax rates at 36.4% more than 10 percentage points higher than the average for all other industries.

New York -- J.C. Penney Co. filed a lawsuit on Monday asking a Delaware judge to declare that it is not in a default of its bond agreements, protecting nearly $3 billion of debt from being due in the coming months, Reuters reported.

According to the report, J.C. Penney received a letter earlier on Monday from the Brown Rudnick law firm that said J.C. Penney had breached a covenant of a bond indenture agreement by granting a lien on its inventory. J.C. Penney filed the lawsuit after receiving the letter.     

WASHINGTON — The National Retail Federation has been outspoken in its criticism of credit card fees and now a group called the Electronic Payments Coalition that represents credit unions,banks and payment card networks is firing back, claiming that the retail lobby is making false statements regarding checkout fees.

WASHINGTON — The National Retail Federation has been outspoken in its criticism of credit card fees and now a group called the Electronic Payments Coalition that represents credit unions,banks and payment card networks is firing back, claiming that the retail lobby is making false statements regarding checkout fees.

Finding the right balance between providing consumers targeted and offers while still respecting their privacy is ongoing battle for mobile marketers. Now, the The Federal Trade Commission, the nation’s chief privacy agency, has issued a staff report recommending ways that key players in the rapidly expanding mobile marketplace can better inform consumers about their data practices.

Arlington, Va. -- The passage of comprehensive tax reform and a more level playing field between online retailers and Main Street retailers for sales tax collection top the Retail Industry Leaders Association’s public policy priorities for 2013.

According to RILA, the retail industry pays among the highest domestic effective tax rates at 36.4% more than 10 percentage points higher than the average for all other industries.

Foothills Ranch, Calif. -- The Wet Seal Inc. on Friday announced that its COO is resigning as the struggling retailer initiates a corporate workforce reduction as part of a broader cost-saving initiative. In other moves, it will shutter two poor-performing Arden B stores.

The struggling chain, which also authorized a $25 million stock buyback program, said president and COO Ken Seipel resigned effective immediately. His position will not be filled. Instead, Seipel's duties will be shared between CEO John Goodman and CFO Steve Benrubi.