When Virginia shoppers pay the 5 percent sales tax on retail goods, most – but not all of it – goes to the state. A small percentage is kept by the business. It’s called the dealer’s discount, and it has been in place since Virginia started the sales tax more than 40 years ago. It… Read more »
retail
Local luxury retailers hang tight
Luxury retailers may be in for a cold winter. After witnessing a decline in sales at the tail end of the summer, luxury brands like Saks, Nordstrom and Tiffany & Co. are bracing for what could be an even weaker holiday season. Local high-end retailers and other business operators say business is holding steady.
Ashland and Hanover not fighting growth anymore
A strange shift for the “Center of the Universe,” as the village is sometimes called, to a retail hotspot and thriving business district. Just a few years back, residents of the Hanover County town were fighting tooth and nail against an incoming Wal-Mart store, a brawl which ended up becoming the subject of a PBS… Read more »
BlockCity?
The movie-rental chain Blockbuster announced this week that it wants to buy Circuit City for more than $1 billion. What sort of movie would this be? A horror film? Maybe a romantic comedy? Blockbuster CEO James Keyes said Monday that combining the companies would create a 9,300-store chain that could sell portable entertainment (DVDs) and… Read more »