Beyond the numbers: Macy’s, Levi Strauss CFOs dish strategy
CFO Dive
JANUARY 19, 2024
For some retail CFOs that’s meant a bigger role in growing market share. Finance leaders are increasingly balancing financial and strategic duties.
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CFO Dive
DECEMBER 1, 2023
The issue is complex and often clouded by imprecise data — sometimes from the industry itself.
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From Start to Scale: Driving Growth Through Seamless Payments Implementation
The New Way CPAs are Delivering Value: Aligning Automation with Client Success
Profit in the Details: Rethinking Spend for Monumental Impact
Fall In Love With the Month-End Close
PYMNTS
DECEMBER 29, 2020
In an interview with PYMNTS, Lilia Metodieva, managing director at Monneo , said virtual international bank account numbers (IBANs) can help firms gain scale internationally, and customize payments to serve the needs of their end customers.
From Start to Scale: Driving Growth Through Seamless Payments Implementation
The New Way CPAs are Delivering Value: Aligning Automation with Client Success
Profit in the Details: Rethinking Spend for Monumental Impact
Fall In Love With the Month-End Close
Barry Ritholtz
DECEMBER 11, 2023
billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” That line is just another in a long series of falsehoods put forth by the professional b *s at the National Retail Federation. This costs retailers anywhere between $15-20 billion annually in the US. No, “ nearly half ” of $94.5
PYMNTS
DECEMBER 24, 2020
When it’s said and done there was only one story that mattered in the retail universe this year and it was the rise of the digital-first economy. The numbers speak for themselves. As seen in the opening flurry of numbers, consumers weren’t leaving home to shop. Malls And Department Stores Get Hit.
PYMNTS
JANUARY 18, 2021
Every year for the last 110 years , members of the retail trade group, known as the National Retail Federation (NRF), have assembled to discuss the slate of issues pertinent to its members. COVID-19, of course, didn’t cause physical retail’s steep decline — it just accelerated it. Retail is now about logistics and the last mile.
PYMNTS
JANUARY 15, 2021
In retail technology, Toshiba Global Commerce Solutions ’ new Elera system aims to supplant in-store IT systems with a new cloud-enabled technology. 30 : Minimum number of “microservices” on Toshiba Global Commerce Solutions’ Elera system. 12M : Number of JazzCash’s active users in Pakistan.
PYMNTS
APRIL 28, 2020
Reinventing retail in the wake of COVID-19 may mean reinventing retail formats. It’s also likely that retailers will see more men in-store than women, and they should consider adjusting inventory to target these shoppers.”. Inventory adjustments will only be part of the post-COVID retail order.
PYMNTS
SEPTEMBER 29, 2020
Brick-and-mortar retailers felt the pain at exaggerated levels due to the pandemic, according to the bi-annual BDO Bankruptcy Update. That means the year is on pace to rival the 2010 numbers during the Great Recession. The number of Chapter 11 filings is up 26 percent from last year.
PYMNTS
AUGUST 5, 2020
In retail technology, Yotpo is helping brands capture the digital shift by making a compressed marketing stack for online shopping. Data: 3,300: Number of employee participants in Macy’s Style Crew program. All this, Today in Data. 78%: Share of consumers who have changed how they pay for things to reduce contact.
PYMNTS
NOVEMBER 5, 2020
This in a week that has seen news reports that the world’s largest retailer has terminated its contract — and a 3-year-old automated shelf-stocking experiment — with San Francisco’s Bossa Nova Robotics , having found that existing “human” employees were able to do the same work just as well. Not Just Walmart.
CFO News
JUNE 12, 2023
Retail Inflation: The number has remained below the Reserve Bank of India’s (RBI) upper band target of 6 per cent for the third consecutive month.
PYMNTS
JULY 6, 2020
If your business touches retail in any way, it might pay to follow a few important breadcrumbs. Worse yet, some analysts fear the triggering of break-lease clauses for retailers in malls if anchor stores leave. All of this will only make malls an even tougher sell to consumers, and to retailers that want consumers to buy their stuff.
CFO News Room
NOVEMBER 15, 2022
Slumping markets have investors pulling back from funding startups that make internet-connected devices for retailers, threatening to choke an innovation pipeline for emerging tools like smart shopping carts and inventory management robots. s retail insights division. Newsletter Sign-up. WSJ | CIO Journal. from 2021 to $188.2
Accountancy Today
JULY 25, 2022
Data from The Gazette Official Public Record revealed construction, manufacturing and retail were the sectors that accounted for almost 40% of administrations in 2022. Greater London led the way with 22% of the filings, followed by the South East (17%) and North West (15%).
CFO News
MAY 12, 2023
The number has remained below the Reserve Bank of India’s (RBI) upper band target of 6% for the second consecutive month.
CFO News
JANUARY 12, 2023
The number came within the Reserve Bank of India's (RBI) tolerance band of 2-6% for a second month in a row.
CFO News
DECEMBER 12, 2022
The number came within the Reserve Bank of India's (RBI) tolerance band of 2-6% for the first time after 10 consecutive months.
VCFO
JUNE 2, 2023
Navigating a New Era of Retail – Three Financial and Operational Factors The market and operating environments of retail businesses have undergone dramatic transformations since the turn of the millennium; transformations that accelerated significantly more with the outset of the COVID pandemic.
PYMNTS
AUGUST 18, 2020
Census Bureau reported that retail eCommerce sales for the second quarter, on an unadjusted basis, stood at $200.7 That jump comes at total retail sales were $1.3 percent, even as total US retail sales slipped 3.4 To that end, on Tuesday (Aug. 18th), the Department of Commerce’s U.S. trillion, down 3.4 percent year on year.
PYMNTS
AUGUST 17, 2020
The Commerce Department released July’s retail sales last week, showing an increase in seasonally adjusted retail spending – up 1.2 Analysts reported that physical retail sales, seasonally adjusted, were up 2.7 Analysts reported that physical retail sales, seasonally adjusted, were up 2.7 percent growth in June.
PYMNTS
DECEMBER 28, 2020
It could be argued that for the retail industry to pull off a 3 percent uptick for holiday sales this year was an astonishing feat. Take that period out to the “75 Days Of Christmas” and that number goes up to 3 percent. Mastercard’s Steve Sadove, senior advisor and former CEO of Saks called it a “healthy” number.
CFO News Room
DECEMBER 4, 2022
Economists expect the Fed’s tighter money policy will ultimately result in negative monthly payroll numbers, but not yet. She said the number of workers out for illness could continue to be a factor, and there have been more announcements of hiring freezes. “The same thing is true in the shipping industry.”
CFO News Room
DECEMBER 14, 2022
The real retail sales indicator improved from a negative trend to a neutral trend. Retail Spending Was Strong in October, but the Trend Is Flat. Total nominal retail sales and food-services spending rose 1.3 From a year ago, retail sales are up 8.3 From October 2021 to October 2022, core retail sales are up 8.0
PYMNTS
JANUARY 8, 2021
The FinTech group is reportedly mulling setting aside a significant number of shares for users if it goes public, but it has yet to make any final decisions, according to Bloomberg, who cited unnamed sources. Robinhood ’s platform is popular with amateur retail investors, particularly millennials and Gen-Zers.
PYMNTS
DECEMBER 18, 2020
As reported by Reuters , the Sand Dollar – a new digital currency issued and backed by the Bahamian central bank – is now in circulation, and bit by bit, has been making inroads into retail use cases. The money is spendable at a number of retail locations. Central Banks Around the World Eye CBDCs.
PYMNTS
DECEMBER 30, 2020
Department stores are struggling in a digital-first economy, while forward-thinking retailers are looking at the returns process as an opportunity to create a positive customer experience. 97% : Share of consumers who will buy from a retailer again after having a positive returns experience.
PYMNTS
SEPTEMBER 15, 2020
To reshape the digital checkout experience for retailers and shoppers, Visa Canada has unveiled the extension of Click to Pay to Canada. As a result, they will not have to manually input their 16-digit personal account numbers or find passcodes when completing a purchase. 15) announcement. 15) announcement. 21 in the United States.
CFO News Room
NOVEMBER 26, 2022
Bed Bath & Beyond (BBBY) – The housewares retailer is struggling to keep its stores stocked, according to a report in the Wall Street Journal. The paper cites analytics company DataWeave numbers showing more than 40% of the retailer’s products were out of stock in October. Manchester United Shares jumped 14.7%
CFO News
FEBRUARY 28, 2024
Primark has been a successful value-priced retailer and its global revenue has exploded in the last few years, aside from two Covid-hit years. Average prices are even cheaper than retailers such as H&M and Uniqlo.
PYMNTS
NOVEMBER 23, 2020
The National Retail Federation (NRF) said it predicts retail sales across the U.S. billion in retail sales and an increase of 3.5 billion in retail sales and an increase of 3.5 The shutdowns and stay-at-home orders from last spring have stunted some of the growth, with some smaller retailers still struggling.
CFO News Room
FEBRUARY 6, 2022
Growth in employment continued in leisure and hospitality, professional and business services, retail trade, and transportation and warehousing. The number of unemployed persons, at 6.5 The number of long-term unemployed (people who have been jobless for 27 weeks or more) declined to 1.7 represented a slight increase of 0.1
CFO News Room
FEBRUARY 4, 2022
hours, a toll that was worse for some employees who work in-person, directly with customers: Retail workers lost, on average, an hour of work a week, about 3%, compared with December. The number of shifts worked in retail and hospitality declined the most month-over-month in January, according to data from UKG, the payroll software provider.
PYMNTS
OCTOBER 8, 2020
The higher number represents a cooling of summer jobs growth. The new number easily tops the pre-pandemic record high of 695,000 from 1982. One of the factors putting a damper on near-term economic improvement is the rising numbers of COVID-19 cases in the U.S. A survey of Dow Jones economists had expected 825,000 new claims.
PYMNTS
AUGUST 5, 2020
In the current environment, of course, the pandemic decimated foot traffic across any number of verticals — restaurants and retailers come to mind, of course. On the latter front, Gaherity said embracing bill payments serves a way to meet the needs of the unbanked and underbanked population that numbers more than 85 million consumers.
PYMNTS
MAY 19, 2020
Amazon could be in talks to acquire the bankrupt clothing retailer JCPenney , Fox Business reported, citing Women’s Wear Daily (WWD). JCPenney officially filed for bankruptcy late Friday (May 15), ending speculation as to the beleaguered former retail titan’s financial status. Now, Amazon could be moving in. According to the U.S.
PYMNTS
JANUARY 11, 2021
Amazon and Walmart are among the big retailers trying out a new way of handling refunds, according to a report from The Wall Street Journal (WSJ). The number of eCommerce packages returned soared 70 percent compared to 2019, and because of the pandemic, many customers didn't want to take the items to physical stores, WSJ reported.
PYMNTS
DECEMBER 28, 2020
The pandemic hit Bangladeshi clothing suppliers and the country's overall economy hard when British fashion retailers had to shut down, a report from The Times said. That number came from 1,931 global fashion brands nixing their orders. That number came from 1,931 global fashion brands nixing their orders.
PYMNTS
OCTOBER 12, 2020
In a time of increasing change for retailers and consumers, the current global climate has begun accelerating the future of retail trends at a much quicker pace than previously envisioned. Lastly, Mao said Blackhawk is seeing that consumer interaction with retail apps is consistently rising. Capturing the New Customer.
CFO News Room
JANUARY 21, 2023
Nordstrom — Shares of the retailer fell 7% in premarket trading after Nordstrom announced that its holiday sales fell 3.5% In a statement, CEO Erik Nordstrom described the retail environment as “highly promotional.” Correction: Nordstrom reported disappointing holiday sales numbers, not its latest quarterly figures.
PYMNTS
SEPTEMBER 29, 2020
If it’s a hit with users, Amazon plans to bring it to other retailers as well as performance venues and the nation’s offices. Dilip Kumar , Amazon’s vice president of physical retail, told the network the technology had been in the planning stages long before the pandemic. “I
PYMNTS
SEPTEMBER 30, 2020
Dramatic shifts are underway in the retail sector as it adjusts to consumers’ increasingly digital preferences. These retailers are accustomed to engaging with their customers in brick-and-mortar stores and building long-lasting relationships that lead to brand loyalty. Around The Buy Now, Pay Later World.
CFO News Room
JANUARY 8, 2023
Bed Bath & Beyond — The retailer dropped 12.4%, building on the sharp losses seen Thursday, after management said the company is low on cash and considering bankruptcy. Costco — Shares of the wholesale retailer dipped more than 1% in premarket even after the company reported solid sales number for December.
PYMNTS
OCTOBER 15, 2020
Retailers] are seeing double-digit higher conversion rates when an extended warranty is shown – not on the extended warranty, but conversion rates on the product itself,” Levin said. “The Such numbers have impressed PayPal and other investors, who joined a $40 million Series B funding round that Extend announced on Thursday (Oct.
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