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Report: Costco, Nordstrom tops in returns

BY Dan Berthiaume

Los Angeles – Costco and Nordstrom were the number one and two ranked retailers in terms of their return policies, according to a new report from personal finance site GoBankingrates.com. Costco received kudos for having no time limit and full cash or check refunds, while Nordstrom got credit for having no formal return policy or time limit.

Meanwhile, Sears was ranked last for having a tiered system with 90-day maximum; original packaging, receipt or packaging slip required, and Best Buy was ranked next to last for basing time limits on how much the customer spent. Zappos had the third-best return policy and American Apparel had the third-worst return policy.

"Not everyone is good at gift giving," said Jennifer Calonia, editor of GoBankingRates.com. "If you’re worried about finding the perfect gift for a loved one, consider a store with a great return policy. A return policy can truly make or break a purchase; many major retailers carry the same brands."

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Report: Charges filed in 2012 Bangladesh factory fire

BY Dan Berthiaume

Dhaka, Bangladesh – Police in Bangladesh have reportedly filed charges against the owners of a garment factory that was the site of a fatal fire in November 2012 that killed more than 100 workers. Bloomberg reports that Delwar Hossain and his unidentified wife, owners of Tazreen Fashion Ltd, were among 13 people charged with murder and other offenses in connection with the deadly blaze that resulted in 124 deaths.

The factory had no emergency exits, which contributed to the unsafe conditions that caused so many fatalities. There have been several high-profile disasters at garment factories in Bangladesh in recent years, leading calls for government reforms. Those charged in the Tazreen Fashion fire could receive up to life in prison.

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Report: Massachusetts retail price scanners have 99.8% accuracy

BY Dan Berthiaume

Boston – Massachusetts retail price scanners reportedly operate at a 99.8% accuracy rate. According to the Associated Press, the Massachusetts Division of Standards checked scanners at 98 different stores of 50 retailers across a wide range of verticals and discovered five overcharges out of about 2,800 individual price scans.

The highest overcharge amount was $3.80. Overcharges were assessed by comparing price indicated by the scanner at checkout to the price marked on an item or at the shelf. Each retailer that had an overcharge was fined $100 per overcharge. Accuracy improved slightly from the 2012 scanner survey, which produced a 99.6% accuracy rate.

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