Top Story

• Retailers win $6 billion settlement in credit-card fee case
  Visa, MasterCard and some large banks will pay a $6 billion settlement to retailers across the country, temporarily lower credit-card swipe fees and allow merchants to charge more on credit-card transactions, to settle a 7-year-old price-fixing lawsuit. “What we need are changes in the rules that bring about transparency and competition that would be here for years to come," said Mallory Duncan, general counsel to NRF, which was not a party to the lawsuit. The Wall Street Journal (7/13), Bloomberg (7/13), CBS News (7/14)     

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Industry Watch

• Daffy's to close all locations
  Off-price retailer Daffy's will liquidate the merchandise at its 19 stores and close down, the company said. The company reportedly hired a liquidator last week, and is expected to shutter most of the stores by the end of October. Women's Wear Daily (subscription required) (7/15)     

• How Richard Perry is going to recharge Barneys
  As the new chairman of a now almost debt-free Barneys New York, Richard Perry has a plan to inject the selling floors with the same kind of energy that's found in Fred’s bistro in the Madison Avenue flagship. "With luxury shopping, it’s really important to have a good time. This is going to be a New York City mall.” Women's Wear Daily (subscription required) (7/16)     

• Urban Outfitters' T-shirt sparks political debate
  Urban Outfitters' recent release of a T-shirt bearing the image of Republican presidential candidate Mitt Romney sparked national debate in some circles about whether the offering truly represents the company's political views or is an ironic offering to the largely liberal client base. National Public Radio (7/15)     

• Other News

• Court rules Martha Stewart Living must put Penney's line on hold
  The Wall Street Journal (7/13)     

• Sephora opens 1st of 30 planned stores in Brazil
  Women's Wear Daily (subscription required) (7/13)     

Retail Trends

• Report: June retail sales fell 0.5%
  Retail sales dropped 0.5% in June, after a 0.2% decline in May, amid declining demand in a host of categories including cars, consumer electronics and building materials, according to a Commerce Department report released Monday. Bloomberg (7/16), Reuters (7/16)     

• Retailers get a head start on back-to-school
  About 20% of consumers started their back-to-school shopping last month, most seeing it as a way to spread the spending out over the summer months, according to a recent survey. Retailers including Staples, RadioShack and Hollister are catering to the early shoppers with discounts on school supplies and early displays of cold-weather clothes. The Indianapolis Star (7/15)     

Retail Technology

• Virtual fitting room adoption on the rise
  Shoppers at seven malls in Southern California and a growing number of shopping centers throughout the country can step into virtual fitting rooms designed to help them find the best-fitting styles from participating mall merchants. "It's great because it streamlines the shopping process and allows people to shop more efficiently and faster, and ultimately visit more stores," said Sarah Richardson, director of marketing at Westfield Culver City. Los Angeles Times (tiered subscription model) (7/13)     

Hot Topics

Top five news stories selected by NRF SmartBrief readers in the past week.

• SUPERVALU may sell all or part of company (The Wall Street Journal)

• Target, Neiman Marcus to team on holiday designer collection (Women's Wear Daily)

• Topshop to open inside Nordstrom stores (The New York Times (tiered subscription model))

• Penney's to cut 350 headquarters jobs in "final phase" of restructuring (The Wall Street Journal)

• What's in it for Neiman Marcus? (Luxury Daily)

• Results based on number of times each story was clicked by readers.

Policy & Government Affairs

• Republican governors drop opposition to online sales tax
  New Jersey Gov. Chris Christie is one of several Republican governors who have dropped opposition to a federal bill that would allow states to require online retailers to collect sales tax. The Wall Street Journal (7/16)     

Sponsored Content

NRF News

• Retail sales slip 0.4% in June
  Persistently high unemployment, stagnant job growth, and international economic unease continue to take a toll on consumer spending. According to NRF, June industry sales (excluding automobiles, gas stations and restaurants) dipped 0.4% seasonally adjusted from May but increased by 1.7% unadjusted year-over-year. "There is no doubt consumers struggled with discretionary spending last month, but many families may be looking at this as a temporary break as they save up for back-to-school shopping in July and August," NRF President and CEO Matthew Shay said. Read more.     

• NRF SmartStat: July 16, 2012
  Amazon climbed from No. 19 to No. 15 on this year's Top 100 Retailers list, as 2011 U.S. sales jumped 42% to over $26 billion. Source: STORES 2012 Top 100.     

• Crate and Barrel, Sterling Jewelers, and The Children’s Place talk corporate social responsibility
  Complying with corporate social responsibility policies is a no-brainer for retailers, but more often than not, meeting those requirements is often easier said than done. During NRF's Global Supply Chain Summit in Atlanta earlier this year, a panel of retail executives outlined tactics that will help retail supply chain executives comply with daunting federal regulations such as the Lacey Act. Read more.     

Chain Restaurant News

• Former Beef O' Brady's chief builds fast-casual Greek concept
  Former Beef O' Brady's president Nick Vojnovic is now working to build Florida-based Little Greek, a fast-casual concept that's grown from a single family restaurant to nine units and 11 franchises expected to be in the works by the end of the year. Vojnovic first scoped out the concept by clearing tables at the original Little Greek to discover what patrons were eating and what they weren't. The Tampa Tribune (Fla.) (7/15)     

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Position Title Company Name Location Merchandise Planner Stein Mart Jacksonville, FL Brand Manager Total Wine & More Potomac, MD Divisional Merchandising Manager, Men's Stein Mart Jacksonville, FL Director of Planning Hot Topic, Inc City of Industry, CA Assistant Manager Armstrong Garden Centers Los Angeles, Orange County, San Diego, CA Vice President and GM of Retail Rockler Companies, Inc. Medina, MN Specialty Shop Planner - Action Sports REI Kent, WA Buyer Payless ShoeSource Topeka, KS Planner – Merchandise Distribution Payless ShoeSource Topeka, KS eCommerce Site Merchant REI Kent, WA Retail Buyer - Home Target Minneapolis , MN Systems Analyst-SaS Application/Interface Support PetSmart Phoenix, AZ Director Stores - Mid-Atlantic Division Pier 1 Imports Columbia, MD Lingerie Apparel Buyer Castle Megastore Group, Inc. Tempe, AZ Director of Marketing - Palm Beach Gardens, FL Store Saks Fifth Avenue Palm Beach Gardens, FL Merchandise Buyer - Multiple Categories Kohl's Department Stores Milwaukee/Menomonee Falls, WI Cosmetics Buyer (Experience Required) Kohl's Department Stores Milwaukee, WI Recruiting Program Analyst Burlington Coat Factory Burlington, NJ Director of Payroll Burlington Coat Factory Burlington, NJ Director of Visual Merchandise Spirit Halloween Egg Harbor Township, NJ Fashion Buyer Target Minneapolis, MN Merchandise Planner (various categories) Kohl's Department Stores Menomonee Falls, WI Target.com Merchandising Buyer Target Minneapolis, MN IT Support True Religion Brand Jeans Vernon, CA Mobile Retail and Special Projects Manager LEGO Systems, Inc. Enfield, CT

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SmartQuote

Those who do not move do not notice their chains." --Rosa Luxemburg, Russian-German political theorist, economist and revolutionary