RILA and business groups urge Congress to close sales tax loophole
Arlington, Va. — The Retail Industry Leaders Association, along with 125 business groups and employers nationwide, on Wednesday asked the Congressional Joint Select Committee on Deficit Reduction to include in their recommendations to the House and Senate a provision that would close the online sales tax loophole that is harming brick-and-mortar retail businesses and the communities they serve.
RILA executive VP for public affairs Katherine Lugar urged the super committee to help Main Street retailers and the states by including e-fairness legislation in the final recommendations made to Congress.
“Government should no longer be picking winners and losers by giving a handful of online retailers special treatment,” said Lugar. “Closing this loophole would create a true free market and would be a win-win for job creators and the states as they grapple with high unemployment and their own budget struggles.”
RILA and company directed a letter on Wednesday to the chairs of the Joint Select Committee on Deficit Reduction, outlining their requested provision.
American Eagle Q3 sales rise 11%
Pittsburgh — American Eagle Outfitters reported Wednesday that sales for the quarter ended Oct. 29 rose 11% to $832 million, compared with $752 million in the year-ago period.
Same-store sales increased 5% for the quarter, following a 1% rise for the same period last year.
By banner, American Eagle posted a 5% comp increase and Aerie comps surged 8%.
“Our third quarter results reflect stronger merchandise assortments and targeted promotions supported by strategic inventory investments,” said Jim O’Donnell, CEO.
Cardtronics acquires Access to Money
Houston — ATM owner Cardtronics said Wednesday it has completed its acquisition of Access to Money, an operator of merchant-owned ATMs and provider of cash machines to two major multi-unit retailers.
“We anticipate an efficient and seamless integration of Access to Money’s operations," said Steve Rathgaber, CEO, Cardtronics.