Trends in Retail Summer Staffing

This week, summer officially kicks off. For the retail industry, summer can mean a change in the pace of business, leading to a need for adjusted seasonal staffing. With summer on retailers’ minds, what does the industry have to look forward to in the coming months?

Continue reading

Leave a comment

Why Pursue a Franchisee Compliance Audit Program?

Is your company leaving money on the table? Do you know everything about what your business partner is doing and how they are doing it? Anytime there is a contract between two parties that requires some form of self-reporting and payment, underreporting can occur. While approximately 20-30 percent of underreporting is a result of fraud, about 40-50 percent is due to interpretation issues and a large proportion of it stems from human error.

Continue reading

Leave a comment

The DOL’s New Overtime Rules: What Retailers Need to Know

Labor is often the biggest item on retailers’ budgets, and it will likely be getting bigger. On May 18, 2016 the U.S. Department of Labor’s (DOL) long-anticipated overtime regulations were passed, updating the “Salary Basis Test,” which has, to date, allowed employers to exempt certain employees from overtime pay. As retailers wrestle with decisions about employee pay and communication following these new regulations, there are certain considerations they should bear in mind:

Continue reading

Leave a comment

Everyone’s biggest competitor: Amazon

Retailers have at least one thing in common: Amazon as a competitor. According to Bloomberg, The retail giant surpassed Walmart as the largest retailer based on market value in mid-2015 and isn’t showing any signs of slowing down. From unveiling new private label apparel lines to dominating mobile, Amazon continues to innovate in the retail space.

Continue reading

Leave a comment

Results from Reader Survey: What risks do you think retailers are most concerned about?

Earlier this month we asked our readers and @BDOConsumer Twitter followers to weigh in on what risks they think are keeping retailers up at night ahead of the release of the 2016 Retail RiskFactor Report. So, what’s the verdict from the survey?

Continue reading

Leave a comment

Read the Full Report: 2016 BDO Retail RiskFactor Report

Our tenth annual Retail RiskFactor Report examined the risk factors listed in the most recent 10-K filings of the 100 largest U.S. retailers. For the first time in the report’s 10-year history, risks associated with data privacy and security breaches were cited by all retailers, claiming the top spot this year. Other concerns that are top of mind for retailers in 2016 include the regulatory environment, e-commerce competition and general economic conditions.

Continue reading

Leave a comment

Reader Survey: What risks do you think retailers are most concerned about?

Next week, we’ll be releasing our 10th annual Retail RiskFactor report, which analyzes the risks that are top of mind for retailers based on an analysis of the top 100 U.S. retailers’ annual 10-K reports. Before we reveal this year’s results, we would love to hear from you about what risks you think are keeping retailers up at night in 2016. Take our quick reader survey below to let us know your thoughts, and we’ll share the results in a follow-up post!

Continue reading

Leave a comment

Consumption Taxes Challenge Retailers

Historically, the U.S. has relied far less on consumption taxes than its peers, with just 15 percent of tax receipts coming from consumption taxes, compared with an average of 33.6 percent in other developed countries, according to research from The Wall Street Journal. But in the last few years, the tax-consumption idea has gained traction with lawmakers considering an overhaul of the current income-based tax system.

Continue reading

Leave a comment

EMV Challenges Remain for Retailers

Announced a few years ago, the October 1, 2015 Europay, Mastercard and Visa (EMV) conversion date for retailers to avoid the liability shift for card fraud has still not been met by many storefront merchants. Continue reading

Leave a comment

Navigating the Gift Card Breakage Standards

Around two-thirds of American consumers have purchased at least one gift card, and with the surge in e-commerce, online gift card sales are growing at approximately 29% per year. However, about 40% of gift card recipients do not use the total value of their cards. As gift card purchases continue to grow, unredeemed gift card liability balances have been increasing year over year, and retailers are evaluating the best way to treat their unredeemed gift cards.

Continue reading

Leave a comment