STORES Magazine - February 2009 - (Page 62)

THE LAST LAUGH INSIDE TRACK NRFnews NRF Asks for National Sales Tax Holidays THE National Retail Federation has asked President Barack Obama to incorporate a series of national sales tax holidays into upcoming economic stimulus legislation. NRF believes a sales tax holiday would be an important step toward rebuilding consumer confidence, as short-term gains from consumer spending and long-term growth from job creation are both needed to achieve economic recovery. In a letter signed by NRF chairman Myron E. “Mike” Ullman III (chairman and CEO, J.C. Penney Company), first vice chairman Philip L. Francis (chairman and CEO, PetSmart), second vice chairman Stephen I. Sadove (chairman and CEO, Saks Inc.) and NRF president and CEO Tracy Mullin, NRF proposed that 10-day tax holidays be held during March, July and October. The letter recommended tax-free treatment for all tangible goods subject to a state sales tax, ranging from apparel and home furnishings to restaurant dining and automobiles, but excluding tobacco and alcohol. The federal government would reimburse the 45 states that have sales taxes for the lost revenue, and would provide the five states without a sales tax with revenue approximating the sales tax reimbursement that would be received by states with similar population. & WHO WHAT WHEN the store implement tools like customer reviews, blog advertising and Facebook to raise awareness and increase its image. The student scholarship recipients were: • Kyle Bender, a senior retailing major at the University of Wisconsin • Ashley Cline, a senior merchandising major at Florida State University • Sarah Losse, a senior retailing and consumer sciences major at the University of Arizona • Vikram Madan, a senior finance and accounting major at the University of Pennsylvania • Samantha Weaver, a senior business administration major at the University of Florida • Alex West, a senior marketing major at the University of Michigan The scholarship fund was established in January 2006 to provide financial support to students pursuing careers in ecommerce. It commemorates the life of Ray Greenly, a valued online retail industry veteran who passed away in 2005. Big Doings at the BIG Show THE ECONOMY was the prevalent theme throughout NRF’s 98th Annual Convention & EXPO, with retailers from more than 60 countries discussing how to lead in uncertain times and survive the current environment. Keynote speaker Lee Scott spoke two weeks before retiring as president and CEO of Wal-Mart Stores. His address on “The Company of the Future” was followed by a Q&A with NRF president and CEO Tracy Mullin, who asked questions submitted by retailers on topics ranging from the environment in Washington, D.C., to the economy, young consumers, what retailers can do to become more successful, trends that will affect retail and his greatest career success. Other high-profile speakers included Myron E. “Mike” Ullman III, chairman and CEO, J.C. Penney Company; Kip Tindell, CEO of The Container Store; and Lululemon CEO Christine Day. On January 12, members of the NRF board of directors rang the closing bell at the New York Stock Exchange. Many of the BIG Show’s events, messages and moments were captured by NRF bloggers. For a more comprehensive overview, visit WWW.STORES.ORG Awards Scholarships SHOP.ORG awarded each of the six winners of the American Express/NRF Foundation National Intercollegiate Retail Challenge a scholarship of $2,500 from the Ray Greenly Scholarship Fund. The students were surprised with the scholarship announcement after presenting their winning strategy to a group of retail professionals at NRF’s Annual Convention & EXPO. Students were tasked with using Web 2.0 and social networking tools to help a fictional department store’s website connect with customers. The winning group proposed that Rich Last (left), vice president of business development for and chairman of and executive director Scott Silverman flank the scholarship award winners. 62 STORES / FEBRUARY 2009 http://www.SHOP.ORG http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - February 2009

STORES Magazine - February 2009
Executive Editor's Page
President's Page
Are You a Pusher or a Puller?
What Shoppers Think
Online Retail Satisfaction
10 Things You May Have Missed
Numbers Worth Counting
Full Price/Markdown
Retail People
Cover Story - Something’s Got to Give
First Look
Online Partners
Inventory Systems
Drug Store Systems
Business Intelligence
Inventory Managment
Online Marketing
Supply Chain - Better Data, Better Decisions
Returns Management - Identifying Fraud
Data Security - Securing Intimate Data
Anti-Shoplifting - Mall of Shame?
Risk Management - Securing Consumer Confidence
Loeb Retail letter
ARTS Update
Point of View
NRF News
Retail Crossword
Retail Industry Calendar
End Cap

STORES Magazine - February 2009