On May 16, FASB and the IASB announced the issuance of a new exposure draft of the proposed lease accounting rules which will have a major impact on the retail industry. This is the second major iteration of the proposed changes. (For those who may not have been following this issue, see Schmitt, Demystifying the… Continue Reading
Category Archives: Retail
Subscribe to Retail RSS FeedFast Fashion: The Zara Experience
Posted in Real Estate, Retail, retail salesWith more than 6,000 stores worldwide at the end of 2012, fashion giant Inditex, owner of the well-known Zara brand, is a leader in clothing sales. The New York Times recently profiled Inditex as a revolutionary force in the fashion industry. Inditex has about 4,400 stores in Europe, but as of the beginning of 2013,… Continue Reading
Review Your Retail Company’s Existing Business Interruption Insurance to Ensure Proper Coverage
Posted in Insurance, Restaurants, Retail, Risk ManagementWe welcome our affiliate, Fort Hill Risk Management LLC, as a guest blogger for today’s post. It is our hope that this advisory may help retailers address insurance issues in the wake of the Boston Marathon tragedy and other disruptions. The bombings at the Boston Marathon have been extraordinarily difficult for individuals and businesses alike. The… Continue Reading
New Consumer Privacy Decision by the MA Supreme Court Requires Retailers’ Attention and Review of Their Data Collection and Use Policies for Consumers’ ZIP Codes
Posted in Retail, retail salesWe’ve all had the experience of being asked for our ZIP code when making a purchase. Collecting this information at point of sale or otherwise has been a common and growing practice among retailers. However, a recent decision by the Massachusetts Supreme Judicial Court (“SJC”) in Tyler v. Michaels Stores, Inc. on March 11, 2013… Continue Reading
For Purveyors of Medical Marijuana, Siting Dispensaries Gets Easier in Massachusetts, and Federal Tax Concerns Begin to Settle
Posted in Landlords, Municipalities, Real Estate, Retail, Tax, ZoningSome retail landlords in Massachusetts will welcome medical marijuana treatment centers as tenants by the end of the year, and treatment center operators have recently had some good news regarding local land use and federal tax regulation of medical marijuana. Although many state governments are easing the path towards legalizing marijuana for medicinal use, local… Continue Reading
Changing Massachusetts Brownfields Regulations: Retailers Should Take Note of Upcoming May 17th Deadline to Comment
Posted in Development, Environmental, Green, RetailA NAIOP event held at Goulston & Storrs recently focused on big changes coming to the Massachusetts Brownfields regulations, also known as the MCP. Retailers should take note of these regulations. They are directly relevant if you own or lease real estate in Massachusetts at which environmental contamination issues are (or were previously) present because… Continue Reading
A Big-Box Retail Store in the City? “If They Come, We Will Build It.”
Posted in Real Estate, RetailRay Kinsella, the baseball enthusiast played by Kevin Costner in the movie “Field of Dreams,” heard the now infamous words: “If you build it, he will come.” Relying on nothing more than blind faith, Ray risked financial ruin to build the baseball field of his dreams. The prophecy ultimately came true and consumers came from… Continue Reading
Taxing Conditions for Traditional “Brick-and-Mortar” Merchants: Can Marketplace Fairness Be Restored?
Posted in Retail, TaxIf you blinked last Friday you might have missed a rare moment of Senate bipartisan agreement with potentially huge implications for the retail community. And as surprising as any bipartisanship is in the current political climate, even more surprising was the subject of Friday’s accord: taxes. The Marketplace Fairness Act, which received a filibuster-proof 75… Continue Reading
Zoning for the All-In-One Commercial Space
Posted in Compliance, Restaurants, Retail, ZoningMany zoning regulations were drafted decades ago in an era before all-in-one superstores. Accordingly, the form and structure of these regulations often reflects a single use-based regulatory scheme, with lists of dozens of commercial uses that are permitted in each progressive zone category. Today’s all-in-one commercial establishment typically provides many of these uses under one… Continue Reading
ICANN’s Trademark Clearinghouse Arrives March 26th
Posted in Intellectual Property, Retail, TechnologyAs we have previously discussed here, the range of available generic Top-Level Domain names (gTLDs) will soon expand dramatically to include hundreds of new alternatives such as .store, .hotel, and .restaurant. Most of these new gTLDs will be offered to the general public for registration of second-level domains. To help mitigate the risk of brand… Continue Reading
Disney Wristbands: A More Magical Experience or Smoke and Mirrors for Data Mining?
Posted in Retail, TechnologyWith the release of the iPhone 5 last fall, we at the Retail Law Advisor have highlighted some of the advantages and challenges faced by retailers in adapting to new forms of mobile payment technology. Since the fall, Disney Parks and Resorts has begun to roll out a massive program to integrate mobile technology into… Continue Reading
Hacking It in the On-Line Environment: Mitigating Harm from Cyberattacks
Posted in Intellectual Property, Retail, Risk Management, TechnologyCyberspace has been abuzz with discussions about the recent hacking of Burger King’s Twitter account and the ensuing scramble to exercise damage control. The perpetrators who took over the account were able to post profane messages and change the profile picture to a McDonald’s logo, claiming that Burger King had been acquired by its rival…. Continue Reading
New Energy Efficiency Requirements in Store for Commercial Buildings in Massachusetts
Posted in Compliance, Environmental, Green, RetailOwners, managers, and developers of commercial buildings in Massachusetts need to be alert for impending updates to the Commonwealth’s energy efficiency standards. In addition to adopting mandatory changes to the State Building Code, regulators may also update the Stretch Energy Code. Although some transition period will likely be provided, the new standards will soon take… Continue Reading
Best Buy Offers “Low Price Guarantee” to Combat Showrooming
Posted in Retail, retail salesSHOWROOMING UPDATE: On February 15, 2013, Best Buy announced that it will launch an online price-match policy, effective March 3, 2013. Best Buy’s policy is similar to the policy adopted by Target in early January, which we covered here. Interested observers should continue to monitor developments in the battle against “showrooming,” including whether any… Continue Reading
Big-Box Retailers Provide Alternative Forms of Access to Financial Services
Posted in Banking, Finance, RetailSeveral large, national retailers have recently entered or expanded their reach into the market for financial services. Their initiatives have given consumers new banking and credit alternatives. At the same time, however, the new products may attract scrutiny under existing banking laws and their ultimate prospects remain to be seen. In October 2012, Walmart partnered… Continue Reading
Restaurant Paradox: Encouraging and Discouraging New Restaurants in Washington, D.C.
Posted in Development, Landlords, Restaurants, Retail, ZoningResearch has suggested that zoning can have both anti-competitive and pro-competitive effects on retail establishments. The anti-competitive effects may be caused by limiting the number of certain types of retail establishments, by prohibiting some types of retailers, or by encouraging certain types of retailers over others. Other research has shown that zoning can increase competition… Continue Reading
Targeting One’s Competitors: The Use of Price Matching Policies to Combat “Showrooming”
Posted in Retail, retail salesLast August, we addressed the phenomenon known as “showrooming” experienced by owners of bricks and mortar stores, whereby customers evaluate products in the stores but ultimately buy the product from a different online retailer at a lower price. On January 9, 2013, Target announced a new price match policy, which extended a holiday-season promotion designed… Continue Reading
Is Your Product Really “Green”? Marketing Environmentally Friendly Products under the FTC “Green Guides”
Posted in Environmental, Green, RetailRetailers that market their products as environmentally friendly or “green” should take note of the latest updates to the Federal Trade Commission’s Green Guides. The Green Guides are intended to protect consumers from misleading claims in advertisements, labeling, promotional materials and all other forms of marketing. Marketers are expected to use clear language and to… Continue Reading
Coming to America: Retailers Entering the US
Posted in RetailThis past November, Goulston & Storrs hosted a booth at the MAPIC retail conference in Cannes, France. A hefty percentage of the 8,000 attendees were European retailers who expressed a serious interest in expanding their operations to North America. The legal and operational issues facing these aspiring retailers run the gamut from employment, tax and… Continue Reading
Snow and Ice Removal: The Duties of Commercial Property Owners and Tenants
Posted in Landlords, Retail, TenantDuring the winter months, owners and tenants of commercial property should be sure they understand their legal duties to remove snow and ice and the liability risks if they fail to do so. If a visitor to a store slips and falls in the icy parking lot, for example, the property owner and the tenant… Continue Reading
Happy New Year!
Posted in RetailAs 2012 comes to an end, all of us at Goulston & Storrs think about the many people we appreciate. Thank you for the opportunity to serve you in 2012. We value our relationship with you and look forward to maintaining it well into the future. May you enjoy much success and happiness in the… Continue Reading
Limited Time Offer: Uncertain Ends to Prepaid Discount Offers
Posted in Retail, retail salesThis holiday shopping season many retailers will want to reach consumers through the use of prepaid discount offers (“PDOs”), such as those commonly available through Groupon and LivingSocial. Unlike gift cards, which are purchased for an amount equal to that for which they are redeemable (the “Paid Value”), PDOs may be exchanged for goods or… Continue Reading
A Tenant’s Employee has a Criminal Record. How Does a Landlord React?
Posted in Employment, Landlords, Liability, Retail, TenantEmployers often are faced with applicants or employees who have criminal backgrounds. There is legislation which provides guidance to employers who wish to make pre-employment inquiries, establishes certain access to criminal offender record information (“CORI”) and provides for a process by which employers may make employment decisions based on CORI. While for the most part… Continue Reading
Happy Thanksgiving!
Posted in RetailOn behalf of all of us at Goulston & Storrs, we would like to thank you for reading our blog, The Retail Law Advisor. We understand you have many options when it comes to information about the retail industry. We value the trust you have put in us as a resource for this fast paced… Continue Reading
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