Even though the Dodd-Frank financial reforms effectively halved the fees that retailers must pay to banks for each debit card transaction, the stores say that amount is still too much. And with all of their legal options exhausted, the retail industry is calling on the Federal Reserve to re-think the cap it put in place nearly five years ago. [More]
If you celebrate Easter, what are your plans this year? According to a survey by the National Retail Federation and Prosper Insights and Analytics, Americans will spend an average of $146 per person on Easter this year for a total of $17.3 billion. That includes the expenses of baskets full of candy, egg hunts, clothing, gifts, festive meals at home or at a restaurant, and flowers. [More]
You know that scene in superhero and/or spy movies (and especially in sequels) where the hero and his/her longtime nemesis must begrudgingly band together, if only for one kick-butt scene, to take down a larger foe that could hurt them both? That’s probably the most interesting way to think about today’s announcement from the National Retail Federation. [More]
One of the more contentious aspects of the recent financial reforms was a directive from Congress for the Federal Reserve to set a cap for swipe fees — the amount charged to retailers for each debit card transaction — in order to bring the fees in line with what it actually costs to process the transactions. This morning, a U.S. District Court judge ruled that the Fed disregarded the intention of the reforms by setting that cap much higher than it should have been. [More]
Last week, we mentioned that even though some schools have just recently finished for the school year, retailers are already beginning their back-to-school promotions. We wondered (and hoped) that this was just an anomaly and that we weren’t seeing evidence of Back-To-School Creep, but people who know a thing or two about the retail business say it’s a growing trend. [More]
While one might initially expect an increase in shoplifting to be a sign that more people are facing dire financial straits, there are those who believe the recent uptick in retail theft could actually be a hint that the economy is improving.