Joann files for bankruptcy; secures $132M in new financing
CFO Dive
MARCH 18, 2024
The craft retailer’s long-anticipated bankruptcy follows a $400k cash retention bonus paid out to its CFO.
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CFO Dive
MARCH 18, 2024
The craft retailer’s long-anticipated bankruptcy follows a $400k cash retention bonus paid out to its CFO.
PYMNTS
APRIL 13, 2020
For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. An awful lot of other things have changed all around that core, however.
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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
AUGUST 7, 2020
But the ripple effects are daunting, as the moves could threaten the half-trillion-dollar market for commercial mortgage-backed securities. If this becomes a tsunami of retailers rejecting their leases, it’s going to trigger another part of the sea change — the mortgages held by the landlords.”.
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
OCTOBER 30, 2020
Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring, according to a Friday (Oct. Furthermore, acquiring banks can help retailers make sense of their own cyber risk, according to the announcement. “At
Barry Ritholtz
DECEMBER 2, 2023
This week, we speak with Michael Fisch , CEO and co-founder of American Securities , a $27-billion dollar private equity firm. He is a managing member of the general partners of the American Securities Partners’ series of private equity funds and a member of the investment committee of AS Birch Grove.
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.
CFO Dive
JULY 9, 2024
The subscription-based retailer’s $60 million new credit facility with PNC Bank will be secured by its global wine assets.
PYMNTS
AUGUST 5, 2020
Tim Horton , head of global merchant security and fraud solutions at Fiserv , told a recent PYMNTS Masterclass that online purchases have more than doubled year on year in the general retail segment, while online grocery sales have surged by 250 percent. But put the same consumer online and the story is very different.
PYMNTS
JUNE 26, 2020
McNicoll said the quick gains aren’t surprising, as physical retail stores essentially closed down worldwide for months. Ultimately, the luggage company secured a working capital loan from Payoneer to help finance its pivot. By contrast, it took a decade for it to hit 16 percent from less than 6 percent 10 years ago.
PYMNTS
NOVEMBER 10, 2020
Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. Founded in 2007 by Miles and John Perry, who serves as chief executive officer, Bluefin specializes in encryption and tokenization payment and data security. . Each $1 of fraud costs retailers $3.13. .
PYMNTS
SEPTEMBER 4, 2020
Retailers are trying to make themselves as ready as possible, given the highly unpredictable nature of the COVID-19 era’s commerce environment. “I Alford added that retailers also have to be “really careful about creating friction in the transaction process. So, I think that is part of the driver for high cart abandonment.”.
CFO Thought Leader
JANUARY 8, 2025
Now as CFO of Salt Security, he applies the same philosophy of aligning metrics with execution to drive both rapid expansion and operational discipline. CFOTL: Tell us about Salt Security? Lippmann: Salt Security is backed by some of the big name investors out therelike Sequoia, Capital G, (and others)who also serve on our board.
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. billion—with notable exceptions in areas like security and connected vehicles—outpacing a 22.2%
Future CFO
OCTOBER 11, 2022
The face of retail has been changing since the start of digital transformation. Many traditional retailers have witnessed the rise of Amazon to dominate retailing – changing how consumers engage and make purchases. What is certain at this moment is that the evolution of retailing will continue. The business model shift.
Nerd's Eye View
MAY 15, 2024
On April 25, 2024, the Department of Labor (DoL) issued the final version of its Retirement Security Rule (the "Final Rule"), which imposes an ERISA fiduciary standard "that applies uniformly to all investments that retirement investors may make with respect to their retirement accounts ".
PYMNTS
NOVEMBER 24, 2020
But top industry experts told Karen Webster during PYMNTS’ latest “On The Agenda” panel that the hurdles for retailers are only beginning. He said the shipping infrastructure nearly buckled earlier this year, and retailers are now being highly conservative when it comes to managing deliveries. “We Stay Flexible .
PYMNTS
JANUARY 12, 2021
Organized crime rings are taking advantage of the pandemic, looser police enforcement and a softening in anti-shoplifting laws to swipe tons of merchandise from retail stores and warehouses across the United States. KPIX-TV reported that the shop proudly advertised on Facebook Marketplace that customers “never pay retail.”.
PYMNTS
DECEMBER 14, 2020
They are using everything from cash to mobile wallets to complete these transactions, requiring retailers to race to accommodate a wide variety of payment methods. Friction-filled experiences, however, can actually give retailers key opportunities to engage frustrated customers on a deeper level. Contactless Payments And eCommerce.
PYMNTS
JANUARY 8, 2021
Bloomberg notes that such an offering would be unusual, as retail investors generally do not get an opportunity to participate in an IPO at the offering price. Having retail investors buy shares ahead of the opening could also limit the size of the rally of the stock on its first day of trading.
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
DECEMBER 16, 2020
Amid the great digital shift , retailers and financial institutions (FIs) must walk the fine line between challenging transactions and letting the consumer journey proceed frictionless. That’s driven the retailer to require merchandise, risk-driven signatures that can be dynamically altered, said Thompson. The Scope Of The Problem.
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. In order to offer additional security procedures to emerging and current online payment channels, Click to Pay has interoperability with 3-D Secure and EMVCo tokenization specifications. “As
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
DECEMBER 30, 2020
A lawsuit filed by the Securities and Exchange Commission (SEC) against digital payments firm Ripple is heading to virtual court on Feb. 29) that the SEC's lawsuit has already harmed "countless innocent XRP retail holders with no connection to Ripple" and have “needlessly muddied the waters” for the industry. crypto industry.".
CFO News Room
NOVEMBER 19, 2022
The apparel and footwear retailer also raised its full-year forecast and reported an unexpected rise in comparable store sales. The apparel retailer is in the midst of a turnaround effort that has involved scaling down inventories and streamlining its brand portfolio. Gap (GPS) – Gap shares rallied 5.1%
PYMNTS
DECEMBER 31, 2020
Security challenges are mounting, too. PIN-based debit transactions are some of the most secure, but this payment method is being used less and less, with consumers instead turning to eCommerce and in-person contactless payments during the pandemic. 3D Secure 2.0 3D Secure 2.0 The Face of Fraud. Understanding Customers.
PYMNTS
DECEMBER 17, 2020
Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. United Kingdom retailers saw the equivalent of €706 million ($827 million) in card fraud losses in 2019, for example, and the pandemic is expected to add to these woes as it pushes more retail shopping online.
Global Finance
JUNE 18, 2024
The Hyundai India IPO that was announced earlier this year has become a bellwether for the health of Indian stock markets and particularly its IPO market, now that the South Korean carmaker has reportedly filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) on June 15.
CFO News Room
FEBRUARY 3, 2022
There’s a very big effort between now and Valentine’s to get absolutely everything we have in the hands of retailers,” said Hershey Chief Financial Officer. Mr. Voskuil said Hershey has sent salespeople to stores to help restock shelves and the inventory issues vary by retailer. Steve Voskuil. How are you working around it?
PYMNTS
AUGUST 14, 2020
But Co-Founder and CEO Yitz Mendlowitz told Karen Webster in a recent conversation on 3-D Secure 2.0 However, retailers also suddenly found that fighting off fraudsters in the digital CNP space isn’t quite the same as fighting loss in physical stores. the odds of beating the bad guys are moving in retailers’ favor. “I
PYMNTS
SEPTEMBER 27, 2020
Sezzle , the installments payments platform, will be working on buy now, pay later (BNPL) services with Target , a press release says, which will test how the popular payment trend works with the retail giant's operations.
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
NOVEMBER 12, 2020
If it’s cheaper, faster, more secure for the users, then we should explore it. The ECB's message is that the digital currency idea would be a boost for consumers needing new ways to pay for retail purchases as the payments landscape evolves amid the pandemic. My hunch is that it will come,” Lagarde said Thursday (Nov.
PYMNTS
NOVEMBER 24, 2020
Businesses and financial institutions (FIs) are constantly examining ways to make their customers’ accounts more secure, especially as more consumers go online to make purchases and transact during the ongoing COVID-19 pandemic. A convenient, yet secure solution could be just a few taps away, however.
PYMNTS
JULY 1, 2020
Tokens are incredibly powerful tools to secure data and safely transport it from one point to another. He said tokens are capable of providing a wide world of possibilities beyond their traditional use as just security tools. He also said that what consumers want most keenly in the post-pandemic world is to feel safe and secure.
CFO News Room
JANUARY 19, 2023
But questions remain about how secure and reliable it is when compared to traditional brokerages. These protections help safeguard investors’ funds and securities in the event of a brokerage firm’s failure or other financial losses. SIPC stands for the Securities Investor Protection Corporation. Is Robinhood Safe to Use?
PYMNTS
DECEMBER 10, 2020
Pet retailer Petco is launching same-day nationwide delivery in partnership with DoorDash that can be accessed via a redesigned website and upgraded app. . The DoorDash Drive tools give retailers the ability to generate demand through their own websites, apps and other channels. . 10) press release. The company filed an S-1 on Dec.
PYMNTS
SEPTEMBER 17, 2020
Securities and Exchange Commission ( SEC ) filed an “emergency action” against former NS8 Inc. which is based in Nevada, purportedly provides online retailers with fraud detection and prevention technology, according to the statement. Its complaint charges Rogas with going against the anti-fraud parts of federal securities regulations.
PYMNTS
JANUARY 31, 2021
Securities and Exchange Commission. Honest was launched in 2012 and sells its products online and through 32,000 retail locations, according to the statement. In recent years, major retail players including Amazon , with its Earth + Eden diapers, and Walmart have entered into the business of selling high-end baby products.
PYMNTS
AUGUST 13, 2020
By comparison, the first 3-D Secure (3DS) technology provides consumers with a user experience marked by lengthy times for processing and verification. The company reports that retailers selling through eCommerce are experiencing record sales numbers, but fraud rates are also on the uptick. Merchants pay $3.13
Simply Treasury
JULY 12, 2021
Paradoxically, "retail" developments are often faster and more intense than "corporate" developments, notably for reasons of security and integration into the IT systems of large companies. There has been an explosion of Fintechs serving retail and exceedingly small “SMEs” in the last decade. No one can explain it.
PYMNTS
NOVEMBER 6, 2020
Payments are no exception,” she said, noting that a variety of firms – from retailers to insurance providers – are tailoring their customer journeys to meet consumer demands. Guerra said that’s because consumers increasingly value speed and simplicity when it comes to all aspects of life, including their interactions with businesses.
PYMNTS
OCTOBER 5, 2020
And CVS in August became the first major retailer to introduce PayPal QR code technology, which it plans to roll out in its 8,200 U.S. For instance, Square just launched its QR-code driven Square For Restaurants platform, which allows customers to browse menus, place orders and pay for meals with simple scans from their phones.
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