News

Retailers unite to stop border adjustable tax
Retailers, trade organizations and business leaders are teaming up and taking steps to stop the border adjustable tax proposal. The Retail Industry Leaders Association (RILA) joined more than 120 other trade associations and businesses to launch “Americans for Affordable Products,” a national campaign aimed at ending the border adjustable tax. The tariff, which is a component of the tax reform proposal under consideration in the U.S. House of Representatives, would impose a 20% tax on all imported goods.
Commentary: Employers Have Opportunity with Big Labor

Report: Identity fraud hits record high

Identity fraud is at an all-time high, and despite industry efforts, fraudsters continue to rack up victims. According to the “2017 Identity Fraud Study,” the number of victims increased by 16%, rising to 15.4 million U.S. consumers in the last year — a record high since Javelin Strategy & Research began tracking identity fraud in 2003.
Consumer confidence backs off 15-year high

Consumer confidence slipped slightly in January after reaching a 15-year high in December, though outlook for the present overrode the outlook for the future. The index now stands at 111.8 (less than an expected 113), down from 113.3 the previous month.
Canadian home improvement chain is growing its workforce

Preparing for its busy season, Lowe’s Canada will fill 2,800 positions during the first half of 2017.
Specialty retailer recognized for sustainability practices

Land’s End’s growing commitment to environmentally focused business practices has earned it the Green Masters Award — for the seventh consecutive year.
NRF: Shoppers pulling back on Valentine’s Day spending

After a decade-long increase, Valentine’s Day sales may be less rosy this year. U.S. consumers are expected to spend an average $136.57, down from last year’s record-high $146.84. Total spending is expected to reach $18.2 billion, down from $19.7 billion last year, which was also a record, according to the National Retail Federation and Prosper Insights & Analytics, which surveyed 7,591 consumers about their Valentine’s Day plans.
1-800-Flowers.com misses Q2 expectations

Despite a profitable second quarter, 1-800-Flowers.com fell short of expectations. The company reported a 1.1% revenue growth to $554.6 million for the quarter ending Jan. 1, from $548.4 million the previous year. The company credited its 1-800-Flowers.com and BloomNet segments for the increase, along with modest growth in its Gourmet Food and Gift Baskets segment, and e-commerce growth across the Harry & David, Cheryl’s, The Popcorn Factory and 1-800-Baskets brands, the company said.
Specialty jeweler announces key executive changes

In addition to promoting three key executives and adding a new board member, Signet Jewelers is announcing the retirement of two company leaders. The appointments include the following:
Amid weak Q4 results, Under Armour loses key exec

In addition to disappointing fourth quarter sales, Under Armour announced that its CFO is stepping down. The company reported that CFO Chip Molloy is leaving the company “due to personal reasons,” and David Bergman, Under Armour’s senior VP, corporate finance, will serve as acting CFO. Molloy will remain with the company in an advisory capacity to assist with the transition, the brand said.