Retailers in the U.S. pay up to six times more in interchange fees as do merchants in countries in the European Union, the Merchants Payments Coalition reported. "If we paid the same low credit- and debit-card swipe fees as consumers in Australia pay, then the net benefit for American consumers would have totaled $125 billion over the last four years," according to the report.
As companies try to measure the carbon footprints of their products to assign them a sustainability rating, one truth is emerging: A precise measurement is impossible. Tesco has begun labeling its private-label milk and faced the difficulty of accounting for the carbon footprint of a cow's milk versus the impact of, say, its beef.
In a diversification bid, Amazon has been expanding its private-label offerings. In 2004, the Internet giant introduced private-label patio furniture and has since added housewares. Amazon sells more than 1,000 private-label products, the manufacturing of which is outsourced. Chris Nielsen, vice president of home and garden product sales at Amazon, said the effort stems from customer demands.
Tommy Hilfiger global flagship store is opening on New York's Fifth Avenue. The 22,000-square-foot location will be the company's largest, and the company will host complimentary denim fittings and celebrity stylist appearances, among other perks.
A blogger for the NRF talks to Sonja Bata, wife of Thomas J. Bata Sr., who served on the NRF board. Bata, the Canadian shoe company, launched the Bata Shoe Museum in 1995 and has remained a strong shoemaker since its inception. The museum will launch a Renaissance exhibit next month.