L Brands, Inc. (NYSE: LB) reported net sales increased 1% to $724.6 million for the four weeks ended May 2, 2015, compared to net sales of $717.6 million for the four weeks ended May 3, 2014. Comparable store sales for the four weeks ended May 2, 2015, decreased 1% and were negatively impacted by the earlier Easter this year by approximately 5 points.
Last week we issued an urgent appeal to help fund a suit we hope to file against the state of Massachusetts and its outrageous “cookie nexus” regulation. The full appeal is below, but in a nutshell, we can only file this action with your help. Some have already stepped up with pledges and we thank you for that.
To all others, we need your help. This will become a national standard if not opposed. If you are with a high profile company, review our appeal below. Then please let us know we can count on you by clicking on the auto-reply email below. Also this week, the Boston Herald ran an article on the topic in case you missed it…
Help Thwart Massachusetts’s Cookie Nexus Law Industry Must Fund Legal Challenge Or Face Consequences
Dear Catalog & E-commerce Industry Members:
Place a cookie or provide an app that is downloaded by a Massachusetts resident and you have just created a physical presence in the state, according to a new regulation being promulgated. The State Department of Revenue introduced this approach once before, only to have it struck down in court following an ACMA/NetChoice lawsuit. But after correcting the defects pointed out by us, MA is back with a new approach that flies in the face of both the Quill presence and the Internet Tax Freedom Act.
This dangerous expansion of state powers will be quickly replicated elsewhere if uncontested. Recall how quickly the click-thru nexus laws expanded? New York promoted this new approach unopposed, which then spread to 20 other states almost overnight.
Our Urgent Ask
We need to raise $250,000 to challenge this through Summary Judgment in MA immediately. The law filed with the MA secretary of state’s office last week, and to be formally published in the MA Register on Sept. 22nd, goes into effect October 1st. Please click here to make your much needed donation today. (Consider this if you are a high profile company: If you were assessed directly by Massachusetts for compliance, you’d be forced to pony up the entire legal cost yourself.)
This law must be challenged and an injunction sought to stay any enforcement actions while this gets resolved in court. Time is of the essence. Make your most generous donation today.
The ACMA staff is happy to discuss in further detail. Call 1-800-509-9514 or click below to email any of us directly: Paul Miller; Lynn Noble; Hamilton Davison