Tuesday, July 17, 2018

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Tax law glitch puts crimp on store renovation plans

Lawmakers had intended for the ban to take effect for taxable years starting after Dec. 31, 2017. But the law instead says it applies for taxable years ending after Dec. 31, 2017. Republican leaders have acknowledged the mistakes, but there is no quick fix in sight at this point as the corrections would require consensus across the aisles. Get all the latest industry news in your inbox. The activewear brand co-founded by celebrity Kate Hudson is celebrating its five-year anniversary by setting a course for aggressive growth. Fabletics, which currently has 24 stores across the United States, announced it will expand its retail presence by adding more than 75 new doors, giving it a total of 100 locations. The privately held company, owned by TechStyle Fashion Group, will also unveil a new store concept this September, in Bellevue, Washington, which will reportedly include a high-tech payment processing system and a leggings bar among other features. Fabletics, a winner of Chain Store Age’s Breakout Retailers Awards in 2016, was launched online in 2013.

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