Content about Tax

July 24, 2014

The loss of a large tax benefit caused Supervalu’s net income to plummet 49% in the first quarter of fiscal 2015 to $43 million from $85 million in the year-ago period.

July 16, 2014

The National Retail Federation (NRF) is supporting the Marketplace and Internet Tax Freedom Act.

June 20, 2014

Major multinational retailers such as Starbucks and Apple will have to start paying higher taxes in Europe, thanks to a move by the European Union (E.U.) to end certain tax breaks it has now defined as “state aid,” which is prohibited by E.U. bylaws.

June 19, 2014

Alco Stores Inc. reported a net loss of $8.1 million in the first quarter of its fiscal year, up from a loss of $1.7 million in the year-ago period, amid an elimination of a tax benefit.

June 13, 2014

Toys “R” Us reported a net loss of $196 million in the first quarter of fiscal 2014, up from a $111 million net loss in the year-ago period, amid a decrease in income tax benefit and rise in expenses that included investments in e-commerce and U.S. store maintenance.

June 11, 2014

The European Union (E.U.) is investigating lucrative tax breaks individual member countries such as Ireland, the Netherlands and Luxembourg have been giving major global companies including Starbucks and Apple.

May 30, 2014

A pre-tax restructuring charge of $17.3 million during first quarter 2014 in connection with its previously announced strategic realignment was a major factor in a year-over-year net income decline at Ann Inc.

May 29, 2014

Fred’s Inc. cited higher income taxes as contributing to declining net income in the first quarter of fiscal 2014.

May 23, 2014

Shoe Carnival Inc. reported a 3% year-over-year drop in net income to $9.2 million, from $9.5 million in the first quarter of fiscal 2014.

May 22, 2014

Best Buy Co. Inc. swung to a net profit in the first quarter of fiscal 2015 from a net loss in the same period a year earlier, but missed estimates with a drop in sales.

April 30, 2014

A $3 billion tax charge on foreign profits resulted in EBay Inc. reporting a net loss of $2.33 billion for the first quarter of fiscal 2013, compared to net earnings of $677 million in the first quarter of the previous fiscal year.

April 10, 2014

Increasing tax burdens (76%) are the top concern of retail CEOs, according to PwC’s 17th Annual Global CEO Survey. Worries about the tax burden were followed by the government response to the fiscal deficit and debt burden (74%), over-regulation (69%), the high and volatile prices of raw materials (68%), and exchange rate volatility (64%).

March 12, 2014

The National Retail Federation is urging Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes, telling a House committee that lawmakers should level the playing field between local retailers and out-of-state competitors.

February 26, 2014

The National Retail Federation welcomed a proposal to reform the nation’s tax structure announced Wednesday by House Ways and Means Committee Chairman Dave Camp, R-Mich., saying it would strengthen the economy and jobs.

December 23, 2013

Factors including the permanency of the 2013 payroll tax increase, uneven job creation and uncertainty caused by the autumn partial government shutdown are expected to continue constraining consumer spending in 2014.

October 14, 2013

Most retailers wouldn’t dream of using an abacus to reconcile daily accounts when software exists which performs calculations and reconciliations at lightning speed.

October 9, 2013

Some two-thirds of Americans say they support the Federal e-Fairness legislation calling for collection of online sales tax at the time of purchase.

October 9, 2013

Amazon remains the world's most trusted retailer despite widespread criticism of its tax affairs and labor disputes.

July 19, 2013

U.S. consumers are positioned to spend more in the coming months based on several favorable economic indicators seen in June.

June 13, 2013

For anyone involved in retail, it feels like the International Council of Shopping Centers (ICSC) Spring Convention in Las Vegas signifies an important yearly milestone.

May 22, 2013

Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

May 1, 2013

Probably the most important bit of news for bricks-and-mortar retailers that broke over the past week is that the Senate voted to move forward with the Marketplace Fairness Act.

April 26, 2013

The U.S. Senate voted to move forward with the Marketplace Fairness Act, legislation that would allow states to force retailers to collect online sales taxes, if the states choose to do so.

February 21, 2013

Nearly three-quarters (73.3%) of consumers say their spending plans are taking a hit due to the recent payroll tax changes, according to NRF’s 2013 Tax Returns Survey conducted by BIGinsight.