The trade group submitted a statement to Congress opposing the Border Adjustment Tax.
Grocery and household, apparel and home categories were also cited as the primary reasons why Kmart’s comparable-store sales decreased 11.2% during 2017 Q1, stated parent company Sears Holdings.
However, the report also said the American Healthcare Act would reduce federal budgets by a net $119 billion during the next decade.
The retail CEO added the U.S. tax code is “broken,” and noted the BAT would more than double the retailer's tax rate to 75%, making it difficult for Target to invest in hiring workers and opening new stores in the United States.
Hear from CVS SVP front-store business and loyalty and chief merchant Judy Sansone about the front-store revamp at CVS Pharmacy, and see photos of the new store concept.
Drug Store News was live from NACDS Annual Meeting at the Phoenician in Scottsdale, Ariz.. See photos from all the events and read about the organizations’ forward-looking initiatives.