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National Retail Federation

Supreme Court rules for internet sales tax

Supreme Court rules for internet sales tax

WASHINGTON — States can collect sales tax from online sellers even if those companies don’t have a physical presence in the state, the Supreme Court ruled on Thursday in a case with far-reaching implications for online commerce. “The physical presence rule has long been criticized as giving out-of-state sellers an advantage,” the court said in

New tax code eliminates ACA individual mandate

New tax code eliminates ACA individual mandate

WASHINGTON — The individual mandate is no more. The requirement under the Affordable Care Act that people pay a penalty if they do not obtain health insurance was eliminated in the federal tax overhaul passed by Congress. After the Senate approved the tax reform legislation 51-48, Trump tweeted, “Terrible Individual Mandate (ObamaCare) Repealed.” He signed

Holiday selling season good for drug chains

Holiday selling season good for drug chains

NEW YORK — Chain drug store holiday sales bettered last year’s results, with total dollar volume rising more than 4% and same-store sales advancing 1.8%. In comparison to the 2016 holiday retail sales season, when anxiety over the new administration may have peaked, consumer confidence was up this year, propelled by income gains and the

Big events of 2017 that will shape the future

Big events of 2017 that will shape the future

A case could be made that for pharmacy operators passage of the Tax Cuts and Jobs Act late last month was the biggest story of 2017. Championed by the Republican leadership in Congress and President Trump, the $1.5 trillion measure will provide substantial, permanent tax relief for businesses — the corporate tax rate was cut

Holiday retail sales rise for drug chains

Holiday retail sales rise for drug chains

NEW YORK — Chain drug store holiday sales bettered last year’s results, with total dollar volume rising more than 4%. In comparison to the 2016 holiday season, when anxiety over the new administration may have peaked, consumer confidence was up this year, propelled by income gains and the long-running bull market. Chain drug store sales

CVS’ Helena Foulkes to speak at NRF ‘Big Show’

CVS’ Helena Foulkes to speak at NRF ‘Big Show’

WASHINGTON — CVS Health’s Helena Foulkes has been tabbed as one of the keynote speakers at the National Retail Federation’s 2018 annual convention in Manhattan. Foulkes, executive vice president of CVS Health and president of CVS Pharmacy, will address the theme “empowering customers to make everyday health care better” in her presentation, scheduled for Jan.

NRF to honor Walmart’s Doug McMillon as ‘Visionary’

NRF to honor Walmart’s Doug McMillon as ‘Visionary’

WASHINGTON — The National Retail Federation will recognize Walmart president and chief executive officer Doug McMillon as “The Visionary,” an annual award honoring outstanding retail industry leaders The award will be presented to McMillon at the 2018 NRF Foundation Gala on Jan. 14 in New York City. “From risk-taking acquisitions like Jet.com to investing in

Plan for border adjustment tax abandoned by GOP

WASHINGTON — Retailers applauded congressional Republicans’ move to give up their pursuit of the border adjustment tax (BAT). Prior to GOP leaders’ announcement of the decision on July 27, retailers that receive many of the goods they sell from overseas had expressed concerns about the BAT, claiming that it would pass hefty costs on to

Retail industry hails GOP’s decision to shelve BAT

Retail industry hails GOP’s decision to shelve BAT

WASHINGTON — Retailers applauded Republicans’ move to give up their pursuit of the border adjustment tax (BAT). Prior to GOP leaders’ announcement of the decision on Thursday, retailers that receive many of the goods they sell from overseas had expressed concerns about the BAT, claiming it would pass hefty costs on to ­consumers. The week

Back-to-school spending expected to climb

Back-to-school spending expected to climb

NEW YORK — Back-to-school spending is forecast to rise this season, according to recent surveys from the National Retail Federation and Deloitte LLC. Families with children in elementary through high school plan to spend an average $687.72 each, for a total of $29.5 billion, an 8% increase from last year’s $27.3 billion, according to the

Senate Republicans unveil Obamacare replacement plan

Senate Republicans unveil Obamacare replacement plan

WASHINGTON — After weeks of working behind closed doors to draft a bill to replace Obama­care, Senate Republican leaders released the Better Care Reconciliation Act and set about finding 50 votes to pass it. Like the American Health Care Act that passed the House in May, the Senate bill represents a major revision to the

American Health Care Act falls short on coverage

American Health Care Act falls short on coverage

WASHINGTON — The drive to repeal and replace Obama­care has hit a roadblock. The Congressional Budget Office found that the G.O.P.-led American Health Care Act (AHCA) would leave 23 million more people uninsured in a decade. The CBO assessment cast further doubt on the chances of the Senate passing a similar bill to the AHCA,

High court rules on card fees

WASHINGTON — Two recent Supreme Court decisions offered good news to retailers regarding their ongoing fight over the fees they pay on credit and debit card transactions. Late last month the Supreme Court declined to hear an appeal that sought to reinstate a $7.25 billion antitrust settlement of price-fixing charges against MasterCard Inc. and Visa

Valentine’s Day shopper spending to dip

Valentine’s Day shopper spending to dip

WASHINGTON — Consumer spending on Valentine’s Day is expected to slip this year after a decade of annual increases, according to the National Retail Federation. U.S. consumers are expected to spend an average of $136.57 on the holiday this year, according to the annual survey released by the NRF and Prosper Insights & Analytics. That

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