OPERATIONS

A&P names COO as CEO

BY Staff Writer

Montvale, N.J. — The Great Atlantic & Pacific Tea Company (A&P) announced that company COO Paul Hertz has been appointed president and CEO, effective immediately. He succeeds Sam Martin. In January, A&P confirmed Martin’s departure.

Prior to joining A&P in 2010, Hertz served as executive VP of retail stores for OfficeMax, which he joined in 2007. He is a 27-year veteran of the retail industry, beginning his retailing career in 1987 as a manager with Fred Meyer, a division of Kroger. Previously, he held a variety of senior executive positions at Wild Oats Markets, Shopko Stores and Fred Meyer.

In addition, A&P announced that Christopher McGarry, former executive VP and general counsel, has been appointed chief administrative officer and Nirup Krishnamurthy, former CIO, will assume the additional role of chief strategy officer.

“I look forward to working with the board of directors and the talented associates of A&P in this new capacity. A&P is a valuable franchise and a cornerstone in the communities in which we operate. We will work hard to meet the needs of our customers today and in the future,” Hertz stated.

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News

Ashley Furniture upgrades retail management with Microsoft Dynamics

BY Dan Berthiaume

Arcadia, Wis. – When vertical furniture retailer Ashley Furniture found its homegrown retail management system no longer supported its rapid global growth, the company decided to investigate both regional and Tier 1 enterprise retail management systems. Determining it needed a multi-language, multi-currency solution that could support the unique financial requirements of each country where it did business, Ashley Furniture selected Microsoft Dynamics.

The selection was based on factors including Microsoft’s continual investment in and support of the product, as well as the solution’s ability to meet broader retail management needs. Ashley Furniture is currently implementing Microsoft Dynamics, with full rollout slated for 2015. The retailer expects benefits including faster checkout, a more cohesive omni-channel customer experience, and providing back-end pricing, availability and delivery information directly to the store floor.

Future plans include an Ashley Furniture app, supported by Microsoft Dynamics, that would draw on a customer’s wish list and account information to direct them to specific pieces in the store.

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J.Shaughness says:
Mar-26-2014 01:01 pm

Ashley Furniture
When we discovered Ashley had a "no return/no cancellation" policy we vowed to never return and ensure all we know were aware of their policy.

J.Shaughness says:
Mar-26-2014 01:01 pm

When we discovered Ashley had a "no return/no cancellation" policy we vowed to never return and ensure all we know were aware of their policy.

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FINANCE

U.S. court upholds Fed’s cap on swipe fees; NRF ‘disappointed’

BY Marianne Wilson

Washington, D.C. — The U.S. Appeals Court for the District of Columbia on Friday overturned a lower court’s decision in July that favored the merchants and was a setback for banks. The National Retail Federation expressed disappointment with the decision, which will keep the Federal Reserve’s cap on debit card swipe fees at 21 cents rather than reducing it to a lower level.

“NRF is disappointed and remains confident that the Federal Reserve erred when it set the swipe fee cap far higher than intended by Congress,” said NRF senior VP and general counsel Mallory Duncan. “The Fed ignored congressional intent and worked to shield debit card companies and big banks.”

Under the Durbin Amendment provisions of the 2010 Dodd-Frank Consumer Protection and Wall Street Reform Act, the Federal Reserve was required to adopt regulations that would result in debit card swipe fees that were “reasonable” and “proportional” to the actual cost of processing a transaction. The Fed calculated the actual average cost at 4 cents per transaction and initially proposed a cap no higher than 12 cents, but eventually settled on 21 cents after heavy lobbying from the financial services industry.

While far improved from the average of 45 cents before the cap was set, NRF thought the figure was higher than what was sought by Congress and filed an appeal in U.S. District Court in 2011 along with other retail groups. In 2013, Judge Richard Leon ruled in NRF’s favor and ordered the Fed to recalculate the cap at a lower level, but the Fed appealed. On Friday, the U.S. Court of Appeals overturned Leon’s ruling.


The Fed, which had appealed the lower court ruling, said Friday that it was pleased with the appeals court decision.

The banking industry welcomed the ruling.

"Reasonable minds have prevailed," Richard Hunt, president of the Consumer Bankers Association, said in a statement.

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P.Ashton says:
Mar-22-2014 03:12 pm

There is a cap on surcharges,
There is a cap on surcharges, according to Forbes, which is the amount of the swipe fee plus the “average network fees,” meaning other associated costs with doing business with credit card companies. It doesn’t exactly mean paying with credit cards will require installment loan to pay for the credit card fees; likely it will just be a few dollars at most.

P.Ashton says:
Mar-22-2014 03:12 pm

There is a cap on surcharges, according to Forbes, which is the amount of the swipe fee plus the “average network fees,” meaning other associated costs with doing business with credit card companies. It doesn’t exactly mean paying with credit cards will require installment loan to pay for the credit card fees; likely it will just be a few dollars at most.

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