Target says no intention of slowing down in Canada
Target has no intention of retreating from Canada, according to a memo sent to Target Canada employees. The financial media is reporting we might dial back our Canadian expansion,” reads the employee memo released to the Star. The memo is signed by Kathee Tesija, executive vice president, merchandising and supply chain, for Target. Some have gone so far as to suggest we might close our doors altogether. No doubt, coverage like this creates anxiety for you and your teams. So I thought I’d send a note to put these rumors to rest. We have no intention of slowing down in Canada. It’s all hands on deck to determine the best way to get our business on track.” (Source thestar.com)

Canada's new rules on prepaid cards come into effect
Finance Minister Joe Oliver highlighted the new rules for issuers of prepaid cards during a news conference last week.

• a ban on maintenance fees for the card for at least one year after the card is activated
• a ban on assigning an expiry date to prepaid cards
• a requirement that federally regulated financial institutions disclose a list of all the fees associated with the card in an information box that is printed in a visible location on the card's packaging
• a requirement that all other key information be given to the consumer before the card is issued in a manner that is "clear, simple and not misleading"

The new regulations apply to all federally regulated institutions, including banks, and the Financial Consumer Agency of Canada (FCAC) will be responsible for enforcing compliance with the new rules. And applys to all prepaid cards currently in the market starting last week, regardless of when the cards were purchased. (Source ctvnews.ca)

Canadian Push Casualty - Canadian fashion chain Boutique Jacob 92 stores closing its doors across Canada  The Montreal-based company, which has 92 stores across Canada, will liquidate its inventory in the coming weeks after filing a notice of intention Tuesday to make a proposal to its creditors under the Bankruptcy and Insolvency Act. Jacob’s expiry comes after years of steady penetration into Canada from international cheap chic fashion giants such as Zara, H&M, Forever 21 and Aeropostale, all of whom sell apparel at low price points. (Source financialpost.com)

Calgary counterfeit credit card manufacturing lab found in home - two men busted in elaborate scheme  Calgary police have charged two men in connection with a scheme to make fake credit cards and skim personal information from unsuspecting residents. Police seized credit card skimming equipment, gas pump overlays, hundreds of counterfeit credit cards, drugs, $16,000 in cash, and $20,000 in stolen property. The investigation is ongoing. (Source ctvnews.ca)

Montreal trio face 112 charges for theft, fraud in Toronto; Investigators believe similar incidents also took place in other parts of Ontario, Quebec, B.C.  Three men from Montreal were arrested in Toronto Wednesday after a $200,000 fraud investigation. The men allegedly travelled to Toronto from Montreal on multiple occasions since 2013, according to Toronto police. They allegedly pickpocketed in downtown bars and restaurants, broke into a hotel room, and stole wallets, money and ID cards, police said. They then used the ID information to change PINs and use the stolen cards to purchase high-end items from Toronto stores, police said. The men, aged 27, 32 and 48, were arrested near Queen Street West and James Street. They face 112 fraud- and theft-related charges. Investigators believe similar incidents also took place in Peel Region, Ottawa, Laval, Quebec and Vancouver. (Source cbc.ca)

Study suggests fewer than half of Canadians showrooming

Kobo e-reading company cuts 63 jobs from its Toronto office

American Girl opens first two locations in Canada with 15 more coming

Two Regina convenience stores hit by robbers armed with knives

Arrest made in gift card scam, second suspect still at large in Barrie

Retail Fast Facts: April 2014

Highlights:
• Total monthly retail sales changed by 4.0% over the comparable month last year.
• Total sales excluding food, automotive and gasoline changed by 3.6% over the comparable month last year. Read more. (Source retailcouncil.org)