|
Advertisers
In This
Issue
Intimate
Payments
NandoVision
Risque
Wigs
Gozooko
Studio Time
Tia
Lyn
Lingerie
International
Lingerie Shows
McPete
Sales
The Underfashion Club
Styles Fashion
Articles Of Interest
New IRS Reporting
Requirements
Page 1
Ellie Shoes Donates 1000 Shoes to Soles4Souls
Page 1
Cotton Stockpiles Expected
to Grow
Page 1
Eldorado Takes a Bite
Out of Holiday Hunger
Page
1
David Beckham Underwear
Range
Page
1
The International Lingerie
Show Videos - Xotic Eyes, Dynashape Intima, Shibue Couture, Honey B
Page
2
The International Lingerie Fashion Show
Page
2
Sexcies Intimacy Shapewear
Page
2
Business and Technology:Win Internet Traffic and Sales with a Social
Media Trifecta
Page
2
Intimate Graphics: SEVEN TIL MIDNIGHT 2012 VIDEO
Page
2
McPete Sez
Mailbag
Page
2
Fab Foundations:
Fully Supportive Swimwear – The New Elomi Swim
Collection
Page 3
Three Simple Things You
Can Add To Your Lingerie Website to Increase
Your Sales
Page 3
The International Lingerie Fashion
Show Continued
Page 3
Ask the Gozooko Guys
Page 3
Ask Andy
Page
3
The International
Lingerie Fashion Show Continued
Page 4
Lipgloss & Lace
Page 4
The Addict Expose -
Lace Dreams & Crystal Fantasies:I.D. Sarrieri F/W
2011
Page 4
Sportsheets Takes Home
XBIZ Awards
Page 4
The International Lingerie
Fashion
Show Continued
Page 5
Fleshlight Releases Flight
Page 5
MCPETE SEZ CLASSIFIEDS
Page 5
The Buzz
Page 5
Reps Corner
Page 5
Shows & Events
Page 5
McPete Sez
Print Page
Have a Press Release? email it to
info@mcpetesez.com
We
Accept all
Major Credit Cards for Advertising
International
Size Charts
Put
my Banner
on your Web-site,
Click here and Link it to
www.mcpetesez.com
|
January 15, 2012
Issue #305 Th
10/24
Intimate Apparel
Sleepwear-Daywear-Foundations-Loungewear-
Hosiery-Lingerie-Swimwear-Dancewear-
Clubwear-Ready-to-Wear
Cotton Stockpiles
Expected to Grow
The US Department of Agriculture raised its estimates for world cotton
stocks at the end of the 2011/12 season, due to lower production and exports and purchases by the Chinese government.
The forecast echoes figures from the inter-governmental group the
International Cotton Advisory Committee, which earlier this month also said efforts to rebuild the Chinese national reserve are likely to lead
to a recovery in world cotton stocks.
The USDA believes the 2011/12 season, which began on August 1, is likely to end with world cotton stocks of 58.4m bales, up from earlier
estimates of 57.67m.
In the US, the largest cotton exporter, "production is lowered 153,000 bales, as a reduction for upland cotton in Texas is partially offset by
higher estimated extra long staple (ELS) cotton production," its monthly supply/demand report said.
"Domestic mill use is unchanged. Exports are reduced 300,000 bales to 11.0m due to lower US supplies and strong competition from foreign
exports."
Globally, it sees production reduced mainly in India and the US.
Consumption is estimated 1.0m bales lower for China, as the substantial accumulation of cotton in the national reserve is expected to support
prices and constrain mill use. Consumption also is reduced for Thailand.
Watch
Tia Lyn's NY Fashion Show with beautiful models of ALL SIZES!
New IRS Reporting
Requirements
by Steve
Kimberling of Intimate
Payments
A new Federal Regulations requiring credit card processors and acquirers to
report merchant electronic payments transactions to the IRS could have major
implications for retailers. The requirements originated when Congress passed the Housing and Economic
Recovery Act of 2008 and was intended to help the IRS identify under-reported sales. This
is an unfortunate and additional piece of legislation imposed by the Federal
Government to capture income which may not be correctly reported. The US Treasury believes they can collect an
additional $10 Billion over 10 years.
These new requirements will apply to transactions beginning in January 2011.
All merchant acquiring entities must collect and verify the Tax ID number of
each merchant by performing a Tax Identification Number (TIN) match with the associated legal business name for
each merchant on file. This can be difficult because differences in spelling
or punctuation could cause a mismatch.
The word “AND” for example may be displayed as ‘and’ or with a character
such as + or &. Despite these challenges, in January 2012, the merchant bank must
file a Form 1099-K with the IRS and provide a copy to each merchant for which
it filed. Included transactions are credit, debit and gift card. American Express will file a separate Form 1099-K.
If a merchant only receives information from their processor electronically, then
they may also receive their Form 1099-K electronically.
Merchant banks can be fined $250 for each error so they will take pains to ensure
their information is accurate. Should a merchant’s TIN not match the IRS records,
the Treasury advises the merchant bank they may be responsible for withholding
merchant funds and allows the payment processor 30 days total to correct the
deficiency.
If a merchant has two processors during a given year because they closed one
relationship and opened a new one during the year, they will have two separate
filings and reporting. Even more problematic, beginning in 2013, if the
TIN or legal business name combination that was provided to the merchant processor does not match the
information the IRS has on file then the merchant processor must withhold a portion of the
merchant’s processing if they are not able to reconcile the mismatch. The
merchant processor must withhold 28% for the IRS plus the states’ applicable
withholding requirements. Worse, after the mismatch is identified and corrected any withholding paid to the IRS or state must be recovered through the merchant’s
tax filing at the time they file their taxes which could severely harm a merchant’s planned cash flow. Imagine if
your cash flow is interrupted at the beginning of the year, for example and
your first two month’s card payments are withheld at the 28% rate! This could be
devastating for any business, let alone a florist that relies on heavy spending
around Valentine Day. Those withholdings may not be reconciled with the merchant
until they file their taxes after the end of the year.
The new reporting law was opposed by businesses, banks and payment professionals before it was signed into
law, yet the industry must respect and adhere to it. The amount reported is
gross sales which includes sales that are returned or charged back and is before
any fees are deducted. Merchant’s should pay attention to requests from merchant
processors to reconcile their TIN and legal business name and work with them
immediately if there is a mismatch. The reconciliation is easy but must be done
promptly to avoid withholdings and any fee for such withholding.
**Steve Kimberling is Executive Vice President of Intimate Payments /
Eureka Payments, a California based payment processing ISO. Kimberling is an expert
in the payments industry and frequent contributor to several industry publications.
For more information on Intimate Payments, please call 877-476-0570, email
steve@intimatepayments.com
or visit www.intimatepayments.com
Fashion Photo
Kimama models
J. Valentine
photo by Stephen Cupp of Studio Time Photography
If you would like more information about Fashion Photo or would like to be included in the McPete Sez Fashion
Photo contact Jerome Hamilton at
Studio Time Photography jerome@studiotime.us
Van de Velde Reports
2011 Sales Growth
Belgian lingerie group Van de Velde saw 2011 turnover rise by 8.2% to
EUR197.9m (US$254.1m).
The company, which acquired Rigby & Peller last year, said that organic
turnover growth was 2.2%. US lingerie chain Intimacy recorded 8.1% growth for the year to reach US$38.4m.
The company added that it expects that turnover for the first half of 2012, excluding retail turnover for Intimacy and Rigby & Peller will
show a "very slight growth" against the same period of the previous year.
CLICK HERE to
watch Risque's Video on YouTube
Lejaby's Fate Awaits Court
Hearing
The fate of insolvent French lingerie maker Lejaby is set to be decided at a court hearing on January 17.
Just before Christmas, the commercial court in Lyon ordered the liquidation of Lejaby but allowed the company to continue trading until January 20. Candidates for the takeover of Lejaby had until yesterday
to improve their offers.
According to sources close to the negotiations, only two of the bids submitted are considered to be viable.
One is from a consortium made up of Lejaby's Tunisian sub-contractor
Isalys, Christian Bugnon (the son of Lejaby's former owner), Alain Prost, the ex-CEO of Italy's La Perla and previously MD of French
lingerie brand Chantelle, and Italian investment fund Fiduciaria San
Babila. It makes provision to retain 194 of the company's 450 staff in France.
The other bid is from French nightwear specialist Canat, which plans to keep 160 workers.
A
model wearing Bristols 6 at The
International Lingerie Fashion Show,
The Rio Hotel, September 2011
Photo by Jerome Hamilton
David Beckham Underwear
Range
H&M has announced that a range of men's underwear designed by footballer David Beckham will go on sale on 2 February.
The company said that the range will comprise nine underwear styles for men, which will form the basis of the "long term unique partnership
between David Beckham and H&M". H&M said the the range's focus is on fit, function, comfort and design, avoiding overt branding to present a
range of new classics, comprising of briefs, boxers, vests, T-shirts, pajamas
and long johns.
 "The David Beckham Bodywear collection for H&M is full of pieces that
men will love. It's an amazing debut collection, with so much attention paid to the function and quality of the garments. David Beckham is one
of the most respected men in the world today, and I can't wait to see how the range will grow and evolve in the seasons ahead." said H&M head
of design Ann-Sofie Johansson.
Ellie Shoes Donates 1000 Shoes to Soles4Souls
Soles4Souls is delighted to announce that Ellie Shoes, Inc. donated more than 1000 pairs of shoes for their international relief efforts. The Ellie Shoes, Inc. donation will be sent to the more than 1.5 billion individuals around the globe who do not own shoes.
"It warms our hearts to be able to contribute to this amazing charity. We take a lot of pride in creating fun and outgoing shoes for our customers. It is exciting to be able to share these shoes beyond the retail level and make a difference!" said Ellen Renger owner of
Ellie Shoes, Inc.
Soles4Souls has distributed more than 16 million pairs of shoes  around the world with the help of partners like Ellie Shoes. Most recently, they have distributed thousands of shoes to the victims of the devastating tornadoes in the Southeast, as well as millions of shoes to the residents of Haiti.
"We are thankful to our friends at Ellie Shoes for recognizing the global need for footwear," said Wayne Elsey, Founder and CEO of Soles4Souls. "Their donations will be used to bring hope to people around the world who can now look forward to a brighter day."
Carbon Footprint Labeling
Scheme
SGS Consumer Testing Services has launched its first Product Carbon
Footprint program, which offers marks that can be applied to products manufactured and sold on international markets to validate
environmental claims.
The initiative is also said to be the first to offer a progressive three-label scheme demonstrating continuous improvement in
reducing and offsetting a product's environmental impact.
Unlike carbon footprint mark schemes that are limited to a state, a country or a single phase in a product's carbon journey,
SGS' program offers a global approach that covers all geographies with a single
label, as well as recognizing multiple levels of environmental achievement.
The three different marks are SGS Carbon Footprint, SGS Carbon Reduction, and SGS Carbon Neutral.
The Carbon Footprint level conveys a brand's environmental commitment by attesting that SGS has calculated the total greenhouse gas emissions
over the product's lifecycle, using internationally accepted standards and listing the results on the label.
Carbon Reduction signifies that the product's carbon footprint has been reduced in a 12-month continuous improvement scheme
established after the initial carbon footprint calculation.
And the Carbon Neutral grade indicates a significant reduction has been achieved and that remaining emissions have been offset through programs
such as renewable energy credit purchase systems run by certified third-party
organizations.
A carbon reduction strategy based on a product lifecycle analysis can include steps such as raw material reductions, energy management,
implementation of best available technologies and supply chain optimization. These techniques can also help drive savings in
production costs.
This Newsletter is Read by an
average 24,000 Readers each month,
over
14,000 subscribers.
with over 24,000 Hits Per
Day
( End
of Page 1 of 5)
..
|
