OPERATIONS

NRF: Don’t broaden cybersecurity legislation

BY Staff Writer

Washington, D.C. — Two bills designed to protect "covered critical infrastructure" against cyber attacks by terrorists and others should remain focused on their key purpose and not be expanded to include data breach legislation or broad new privacy regimes, the National Retail Federation said.

The cybersecurity bills in question are the Cybersecurity Act of 2012, which was introduced last month by Senate Homeland Security and Governmental Affairs Committee chairman Joseph Lieberman, I-Vt., and ranking member Susan Collins, R-Maine; as well as the the Strengthening and Enhancing Cybersecurity by Using Research, Education, Information and Technology Act, or SECURE IT Act, which was introduced by Senate Commerce, Science and Transportation Committee ranking member Kay Bailey Hutchison, R-Texas, and fellow committee member Sen. John McCain, R-Ariz.

NRF said that while the bills are not directed specifically at retailers, if the legislation is broadened, it may "become a vehicle to which lawmakers would try to attach long-pending proposals regarding online security and privacy." This potentially could include data breach measures that could force retailers to unnecessarily spend millions of dollars on data monitoring services for customers if their databases were hacked.

"Cybersecurity legislation includes the laudable goal of increasing information sharing between the government and private sector, but the goals underlying the cybersecurity legislation and provisions in data breach notification legislation are fundamentally contradictory," NRF senior VP government relations David French said in a letter. "Juxtaposing these contrasting proposals would place businesses in a precarious position when their systems are attacked by cyber criminals. Thoughtful examination and comparison of these pieces of legislation reveal that they are not properly aligned."

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News

Sears Canada stores closing in three major cities

BY CSA STAFF

TORONTO — Sears Canada is closing three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

“While we had no plans to close stores, the transaction for these three specific locations provides an attractive financial benefit for the company which strategically allows us to drive growth in areas which can be most beneficial,” said Calvin McDonald, president and CEO, Sears Canada Inc. We are investing in a refresh of our stores and piloting new formats which will provide Canadians exciting ways to access Sears products and services.”

Sears Canada plans to close locations at the Vancouver Pacific Centre, the Calgary Chinook Centre and the Ottawa Rideau Centre by Oct. 31, 2012. It will return the locations to developer Cadillac Fairview Corp Ltd for C$170 million. The transaction is expected to close on or around April 20.

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REAL ESTATE

Neiman Marcus to open at Roosevelt Field Mall

BY Katherine Boccaccio

Garden City, N.J. — A Thursday report in the Wall Street Journal said that Neiman Marcus has moved on from its earlier plans to open a department store in the Mall at Oyster Bay, located in Syosset, N.Y., and owned by Taubman, and has instead decided to open a new 100,000-sq.-ft. anchor store at Simon Property Group’s Roosevelt Field Mall in Garden City.

The new store, slated for 2015 completion, will be part of a $200-million redevelopment of Roosevelt Field.

According to Wayne Hussey, Neiman’s senior VP development, the move was about timing. “We have been waiting patiently to get a store open at Oyster Bay,” he told WSJ. That store was delayed because Taubman has been unable to reach agreement with community and environmental activists in order to break ground on the mall.

Roosevelt Field is the country’s sixth largest shopping mall, and is anchored by Macy’s and Bloomingdale’s.

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J.Petersen says:
Mar-05-2012 10:15 am

Well, it seems that there are
Well, it seems that there are some big plans for Neiman Marcus. Hopefully the move will be very successful for them and for the entire area. Please keep us updated on any further developments.

 

New department stores opening up are good for all involved with such reviews and hopefully jobs will be created so there will be a big economic boost.

J.Petersen says:
Mar-05-2012 10:15 am

Well, it seems that there are some big plans for Neiman Marcus. Hopefully the move will be very successful for them and for the entire area. Please keep us updated on any further developments.

 

New department stores opening up are good for all involved with such reviews and hopefully jobs will be created so there will be a big economic boost.

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

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