Target agrees to $10M fund to settle lawsuit over consumer data breach by Tad Vezner at Twin Cities/Pioneer Press. “The tentative settlement, which was filed in U.S. District Court of Minnesota, would allow each plaintiff to receive up to $10,000 from the fund.”Read more
As Sears stumbles, suppliers grow uneasy by Krystina Gustafson at CNBC. “Sears has offered to speed up payments to certain vendors to 15 days, asking in return for a discount between 3 percent and 5 percent. The department store typically pays suppliers within two months, MarketWatch said.”Read more
Target extends its return policy to one year on select items by John Ewoldt at Star Tribune. “The new policy applies to all of Target’s 32 private-label brands, such as Archer Farms, Liz Lange, Merona, Mossimo and Threshold…“It’s a bit reminiscent of Costco’s liberal return policy,” said Edgar Dworsky, founder of Consumerworld.org, which tracks retailers’ return policies. “It certainly is an unusual move.”Read more
Wal-Mart’s first year in D.C., by the numbers by Michael Neibauer at Washington Business Journal. “In a comparison of a basket of “off-brand items,” only Aldi came in with lower prices than Wal-Mart — $54 for Aldi and $75 for Wal-Mart. Target was third, followed by Shoppers Food Warehouse, Giant, Safeway and Harris Teeter.”Read more
Amazon expands Prime Now one-hour delivery service to Baltimore and Miami by Chris O’Brien at VentureBeat.Read more
Wal-Mart de Mexico to Taper Investment Plans in 2015 by Anthony Harrup at WSJ. “Wal-Mart de Mexico said Wednesday that it plans to taper its expansion plans this year, making capital expenditures of 12.4 billion pesos ($813 million) this year, slightly less than in 2014, including 5.6 billion pesos to open stores.”Read more (Subscription)
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Retailers urge Congress to boost consumer protections in data breaches by Shan Li at LA Times. “In testimony before a congressional subcommittee on technology, David French of the National Retail Federation on Wednesday said the government should expand liability protection for people using debit cards, pass a nationwide notification law that will inform all parties handling sensitive data in the event of a breach, and boost the prosecution of cybercriminals.”Read more
J.C. Penney Decides Against Media Review After All, Sticks With OMD by Alexandra Bruell at Ad Age. “OMD, which referred calls to the client, has worked with J.C. Penney for 10 years.”Read more
Texas: Costco joins Kroger and Wal-Mart in efforts to change liquor laws by Maria Halkias at Dallas Morning News. “Texas is the only state in the nation that allows private companies to own package liquor stores while prohibiting publicly traded companies from doing so, said Travis Thomas, a spokesman for the retailers.”Read more
Amazon Will Shut Down Amazon Webstore, Its Competitor to Shopify and Bigcommerce by Jason Del Rey at Recode. “Amazon has started telling online merchants that it plans to shut down its Amazon Webstore business, which helps small and midsize retailers create and run their own online shop, according to sources.”Read more
Walmart & P&G Win Top Shopper Marketing Awards by Sarah Mahoney at Media Post. “P&G won a total of six Shopper Marketing Effies, with Walmart winning five, including four in partnership with P&G, and one working with Coca-Cola.”Read more
Target will raise minimum wage to $9 per hour by Nick Halter at Minn./St.Paul Business Journal. “Target is stopping short of matching wages at Wal-Mart, which is raising its lowest rate to $9 an hour this year and $10 an hour in 2016.”Read more
French retailer Carrefour returning to Algeria at Reuters. “Carrefour is preparing to return to Algeria after a six-year absence, as part of a drive to tap booming consumer demand in Africa.”Read more
Billionaire Hard Rock mogul’s Hamptons home goes up in flames by Ian Mohr & Emily Smith at NY Post.See the pics/Read more
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