RILA: Proposed Federal Reserve debit rule a step forward
Arlington, Va. — The Retail Industry Leaders Association said Thursday that the Federal Reserve’s proposed rule on swipe reform is a step in the right direction.
“Although Federal Reserve’s proposal is not entirely conclusive, it does validate the long-held claims of merchants and consumers that the electronic payments market is broken and needs to be fixed,” said Katherine Lugar, RILA executive VP for public affairs.
Lugar added that Thursday’s announcement is a step forward for the “effort to bring relief to merchants and consumers who for too long have faced excessive fees and unfair rules imposed by big banks and credit card companies. Proposed cost reductions will undoubtedly result in savings for consumers,” she said.
Lugar added that RILA intends to continue to make its case to the Federal Reserve, emphasizing that, without strong reforms, merchants and consumers will “continue to be harmed.”
Office Depot sells Japan business
Boca Raton, Fla. — Office Depot said Thursday it will sell its Japan business to Japanese distribution company Kakuyasu.
The transaction also includes an agreement for Kakuyasu to license Office Depot’s trade names, obtain sourcing services and continue to support Office Depot’s global customers in Japan. Kakuyasu is one of the fastest growing and leading multichannel businesses in Japan with fiscal-year 2009 sales of $775 million.
Financial terms of the transaction were not disclosed. Office Depot established operations in Japan in 1996 but has not had any stores in the country since selling them off in 2009.
“We believe the combination of Office Depot’s brand, merchandising and sourcing capabilities, coupled with Kakuyasu’s multi-channel business, distribution network and local expertise, will significantly strengthen our competitive position in this market,” said Charlie Brown, president of the International Division of Office Depot.
Promotional efforts examined
Looking for insight into promotional efforts at Walmart and other retailers? Check out the new series of reports from ECRM at a newly launched website at www.promotionalreflections.com.
According to ECRM, the new resources provide a unique perspective on retail promotions from Walmart, Kroger, Walgreens, Safeway, Best Buy, OfficeMax, Aldi, and 160 additional retailers in the U.S. and Canada. Promotional Reflections reports examine holiday promotions, key product categories, and retail channels. Using data from ECRM’s Ad Comparisons database, data is analyzed to offer unique insights into how retailers advertise brands. The reports include trends, key findings, share of ads, creative strategies, top categories promoted, retail circular comparisons, and more.
Reports released recently include the following: Halloween, Thanksgiving, Black Friday, and Perishable Foods. ECRM plans to release reports on topics relating to Holiday Shopping, Pet Supplies, Health & Beauty, Super Bowl, Back-to-School and more throughout 2011. The Promotional Reflections reports can be found at www.promotionalreflections.com.