In the last three years, New York has collected $19 million in unused gift card balances under the state’s unclaimed-property laws. Best Buy added $135 million in unspent gift cash to its total operating income over the past two years. “For individual retailers, unspent balances can range anywhere from 2% to more than 10% of all gift-card sales,” notes BusinessWeek.
retail
Best Buy Charges Woman $35 For Free Repairs
By 1.28.08
Did you know that if you request a repair under warranty for an appliance you bought at Best Buy, and the repair isn’t made, then Best Buy will charge you a fee?
"Customers Are Avoiding Sears Stores In Droves"
By 1.28.08
On paper, the merger between Kmart and Sears looked almost fool-proof. Investors were confident that hedge fund manager Eddie Lampert had the midas touch, and that Sears’ real estate holdings were worth more than $150 on their own. Sears’ well-regarded brands would be paired with Kmart’s convenient locations—and everyone would make tons of money.
Home Depot Lets You Keep $199 Power Tool That Rang Up For $0.01
By 1.27.08
Johnny was pleasantly surprised when the $199 power tool he grabbed off the clearance rack rang up at the self-checkout for just $0.01. Home Depot, of course, stopped him before he could leave and asked for the item back, but Johnny wasn’t fast to part with his new toy.
I told the manager well that’s to bad because I ALREADY PAID FOR IT!!! and if you don’t return MY PRODUCT!!! that I PAID FOR!!! that I would call the cops because you are now stealing from me. I will call Weights and Measures. OH YEAH and my attorney.
Read the full story after the jump.
Costco Employees Are Heroic, Help Catch Shooting Suspect
By 1.25.08
Several Costco employees who spotted two men breaking into a car parked near the store’s tire center chased the men toward the main store where an assistant police chief happened to be shopping.
Reach Office Depot Executive Customer Service
By 1.23.08
Customer.relations@officedepot.com, an internal source says, is a good email contact for reaching Office Depot executive customer service, those cool cats who can solve tricky customer service issues when the lower level people fail. “Office Depot calls it customer relations,” our tipster tells us, “and I’ll be the first one to tell you that we cave easily.”
Sears To Split Into 5 Crappy Companies
By 1.23.08
Sears might be be poised to sell off some of the sadder, dirtier, and lonelier of its department stores. In addition, it will reorganize itself into five distinct companies based around different sectors of the business. Details are sketchy, but so far it looks like one company will just deny warranty repairs and replacements, while another will focus its entire energies on sending incompetent technicians to your house.
Build-A-Bear Teaches Your Kids To Disclose Personal Information?
By 1.22.08
Over at ZDnet an interesting point has been raised: Why does Build-A-Bear workshop need to know so much information about your children? Just to help return a lost bear? Should kids be encouraged to give out so much information?
Whole Foods Will Eliminate Plastic Bags, Says "Bring Your Own"
By 1.22.08
Whole Foods says that by Earth Day 2008 they will be eliminating plastic bags and instead offer only paper bags or reusable bags made from recycled plastic bottles for $0.99.
Companies Respond To Wrap-Rage, Design Packaging That Isn't So !@$% Difficult To Open
By 1.20.08
Companies are starting to use tamper-resistant packaging that doesn’t cause wrap-rage or puncture wounds. Retailers love those maddening plastic supermax containers for the theft-deterring frustration factor, while manufacturers just want consumers to see the eye candy within. What’s the compromise?
New Service Lets You Resell Your Old Gadgets At A Fixed Price—For A Fee
By 1.18.08
TechForward, a new company in Los Angeles, provides fixed buyback prices on used electronics like cell phones and iPods. The catch is you pay up front—it’s an added fee when you first buy the device—for the right to resell your gadget to them a year or two down the line, and the amounts they’re offering are usually dramatically lower than what you can get if you sell it yourself on Ebay.
Walmart's Debit Card Has Lots Of Hidden Fees
By 1.17.08
Great idea, tap into the “unbanked,” and then rip them off. Here’s an even better idea for potential Walmart Debit Card users: cash! No fees!
GameStop Will Not Accept Defective PS3 Exchange Because Of Serial Number Mistake
By 1.17.08
Reader Ben’s receipt doesn’t match the serial number on his defective PS3, so GameStop and Sony are refusing to repair or exchange it.
Class Actions: Bed Bath & Beyond May Owe You A Small Amount Of Money
By 1.15.08
If you bought sheets at Bed Bath & Beyond you may have some money coming to you from a class action settlement. BB&B has begun notifying customers that they’ve settled a class action lawsuit brought over the thread count in their sheets. Apparently, said sheets had been labeled in a non-standard manner.
3 Deer Attack Pittsburgh-Area Furniture Store
By 1.15.08
A group of three deer attacked a Pittsburgh-area furniture rental store, breaking windows and leaving a trail of hair and blood as they rampaged through the sales floor, says WPXI.
Uh Oh, Retail Sales Down, Wholesale Prices Up
By 1.15.08
The Labor Department reported that wholesale inflation was up 6.3 percent for all of 2007, reflecting a huge increase for the year in various types of energy costs ranging from gasoline to home heating oil.
