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Wal-Mart, Costco , Other Merchants Push Back Against Swipe-Fee Settlement

A group of 19 large retailers, including Wal-Mart Stores Inc. (WMT), Costco Wholesale Corp. (COST) and Starbucks Corp. (SBUX), are opting out of a pending class-action settlement with Visa Inc. (V) and MasterCard Inc. (MA), potentially setting the stage for more battles over transaction-processing fees.The merchants say the pending deal reached last summer won't stop so-called swipe fees from rising and violates their legal rights by preventing them from bringing legal action against the credit-card networks for alleged anticompetitive behavior in the future."If this settlement is approved, it would allow credit card companies and big banks to perpetuate an unfair and broken system that costs all consumers, including those who don't even have a credit or debit card," Mike Cook, senior vice president of finance and assistant treasurer for Wal-Mart, said Tuesday in a statement.The group of merchants, which also includes Gap Inc. (GPS), Lowe's Cos. (LOW), Nike Inc. (NKE), 7-Eleven Inc. an...

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  10. Retailers Delivering Chilly Same-Store Sales Results

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  11. March sales rise at Costco , Victoria's Secret parent L Brands

    Costco Wholesale Corp reported a slightly smaller-than-expected jump in same-store sales in March on Thursday, hurt by weak international results and lower gas price...

  12. Retailers Post Mixed Sales Results in March

    Costco Wholesale Corp reported a slightly smaller-than-expected jump in same-store sales in March on Thursday, hurt by weak international results and lower gas price...

  1. Wal-Mart, Costco And Other Merchants Push Back Against Swipe-Fee Settlement

    A group of 19 large retailers including Wal-Mart Stores Inc. (WMT), Costco Wholesale Corp. (COST) and Starbucks Corp. (SBUX) are opting out of a pending class-action...

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  3. Weather Continued to Pressure Retailers' Sales in April

    Retailers saw sales pick up a bit in April, but they continue to be stymied by cool weather.The group has now marked its fiscal first quarter--February, March and Ap...

  4. Consolidated Summary of April Retail-Sales Results

    The following retail companies are among those that have reported April same-store retail sales increases or (decreases) versus April 2012:COMPANY SYMBOL SAME-STORE ...

  5. Several retailers miss estimates as shoppers frugal

    A number of top U.S. retailers reported disappointing April sales on Thursday as consumers gravitated toward discount chains and bad weather delayed spring shopping ...

  6. Weather Pressured Retailers' Sales in April

    Retailers continue to be stymied by cool weather, leading to generally lukewarm sales for April.The group has now marked its fiscal first quarter--February, March an...

  7. Costco March Same-store Sales Up 4%

    Costco Wholesale Corp. said on Thursday that comparable sales for the four weeks ended May 5 rose 4%, missing an estimate of 4.5% in a survey of analysts by Thomson ...

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