ADVFN - Advanced Financial Network.
HOME» NASDAQ » R » RRGB Stock Price » RRGB Stock News

Red Robin Gourmet Burgers Share News

 Red Robin Gourmet Burgers (mm) Stock Price
RRGB Stock Price
 Red Robin Gourmet Burgers (mm) Stock Chart
RRGB Stock Chart
 Red Robin Gourmet Burgers (mm) Stock News
RRGB Stock News
 Red Robin Gourmet Burgers (mm) Company Information
RRGB Company Information
 Red Robin Gourmet Burgers (mm) Stock Trades
RRGB Stock Trades

New Jersey, American Express Squabble Over Gift-Card Law

By Andrew R. Johnson Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- The state of New Jersey's treasury department fired back at American Express Co. (AXP) and other critics of a new gift-card law after the credit-card company said it was pulling its gift cards from the state's retail stores. American Express said earlier this week it was no longer selling gift cards through New Jersey retailers because of a state law that requires merchants to collect ZIP codes from card buyers. The requirement, which has yet to take effect, is part of a law passed in 2010 that allows the state to reclaim unused gift-card balances after the cards have been dormant for two years. Under guidelines yet to be issued, retailers would be required to collect ZIP codes and potentially other information, such as addresses, to track cards purchased in the state. "Because American Express sells its gift cards through third-party independent retailers, we are not able to ensure compliance with that part of the law," a spokeswoman for American Express said. The company's gift cards are still available from its own website and can still be used at New Jersey stores that accept American Express. The New Jersey treasury department said Wednesday that it felt the "need to set the record straight" following American Express's decision and criticism from other retailers and trade groups. The agency said the law was intended to help consumers by preventing sellers of gift cards from charging inactivity fees. Once a card has been inactive for two years, the law allows the state to take unused balances to hold for consumers. "Unlike balances taken as extra 'profit' by an issuer, every penny the state holds in unused gift cards can be reclaimed by consumers--forever," the agency said Wednesday. "And the value of the card is available to the customer--with interest--forever." U.S. merchants sell an estimated $100 billion of "stored value" cards each year, with about $6 billion going unspent annually, the agency said. Collecting ZIP codes is "not a big lift" for retailers, it said, adding that businesses, including Modell's Sporting Goods and Red Robin Gourmet Burgers Inc. (RRGB) restaurants, already collect ZIP codes from gift-card purchasers. -By Andrew R. Johnson, Dow Jones Newswires; 212-416-3214;

Stock News for Red Robin Gourmet Burgers (RRGB)
02/15/201716:27:21Current Report Filing (8-k)
02/09/201709:36:50Statement of Ownership (sc 13g)
02/07/201712:24:05Amended Statement of Ownership (sc 13g/a)
02/07/201712:16:00Red Robin Gourmet Burgers and Brews to Showcase 'The 305 Burger...
02/07/201710:00:00Red Robin Honors Super Heroes of St. Jude Children's Research...
01/24/201709:02:00Red Robin Gourmet Burgers and Brews is Two Weeks Away from Opening...
01/24/201709:00:00Red Robin Gourmet Burgers and Brews is Two Weeks Away from Opening...
01/17/201712:52:07Amended Statement of Ownership (sc 13g/a)
01/11/201708:02:13Current Report Filing (8-k)
01/10/201708:34:20Current Report Filing (8-k)
01/10/201708:30:00Red Robin Reports Preliminary Revenue Results for the Fiscal...
01/06/201716:13:16Statement of Changes in Beneficial Ownership (4)
01/05/201716:35:00Red Robin to Present at the 19th Annual ICR Conference on January...
01/05/201716:20:01Statement of Changes in Beneficial Ownership (4)
01/05/201716:16:35Statement of Changes in Beneficial Ownership (4)
01/03/201709:30:00Red Robin Challenges Milo Ventimiglia to Lose the Bun
12/19/201616:46:39Initial Statement of Beneficial Ownership (3)
12/13/201617:17:36Current Report Filing (8-k)
12/13/201617:10:00Red Robin Announces Appointment of Guy J. Constant as Executive...
12/12/201611:01:26Amended Statement of Ownership (sc 13g/a)

Red Robin Gourmet Burgers and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations