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.
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.
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How To Optimize Cash Flow: Your Roadmap To Resilience!
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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth
Less Stress, More Success: Accounting Best Practices & Processes for 2025
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PYMNTS
OCTOBER 19, 2020
Silicon Valley checkout-free, autonomous retail startup AiFi has secured a new round of funding, bringing its total raised to $30 million, the company said in a press release on Monday (Oct.
How To Optimize Cash Flow: Your Roadmap To Resilience!
Back to Basics with Reconciliations
Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth
Less Stress, More Success: Accounting Best Practices & Processes for 2025
Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors
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
JANUARY 15, 2021
In the inaugural QR Code Payments Tracker® , PYMNTS explores the latest in the world of QR codes, including new implementations at retailers and payment providers, the security concerns facing this payment method, and the pandemic’s effect on the development and rollout of QR code-enabled payment options. Retail Environment.
PYMNTS
JANUARY 17, 2020
Artificial intelligence (AI) is moving from cool concept toward everyday consumer reality, and signs of that innovation are increasingly appearing in the retail space. Take the issue of retail security as one example. Retail Trust and AI. Reducing network demands, the technology works even if cloud connection is lost.
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.
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
Future CFO
OCTOBER 1, 2023
A majority of business and personal activity involving sending Chinese data abroad will no longer need to go under a security assessment, according to the latest proposed regulation of the Cyberspace Administration of China. Security checks will also no longer be required for personal data exports pertaining to health and security.
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 ".
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 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.”.
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%
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
DECEMBER 20, 2016
Unattended retail will be a $275 billion-a-year industry in three years. Which Mike Keegan, CEO of Transaction Network Services , said can only spell trouble for consumer adoption unless consumers are convinced that interacting with them digitally is totally secure. Here are the three data points they dug into.
PYMNTS
JANUARY 30, 2020
The inaugural Next-Gen Debit Tracker® details the evolving debit payments space and the payment methods’ role in banking and retail, as well as emerging strategies to combat fraud attempts. Card issuers, networks and retailers all must play a part in defending against such breaches. Around The Next-Gen Debit World.
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.
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
MAY 8, 2020
And that actually creates a massive opportunity for retailers of all kinds to jump into the digital market, he said, and grab some market share away from giants like Amazon that have been hit by an onslaught of orders. Retailers, merchants are realizing they can actively utilize those channels because for a lot of them it’s survival.
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
JANUARY 18, 2021
Many businesses, including French sporting goods retailer Decathlon , which has 1,647 stores worldwide and two in the U.S., Decathlon faced its share of security and customer acceptance challenges when rolling out its QR code system as an alternative to cash payments. Why And How Retailers Implement QR Code-Enabled Payments.
PYMNTS
FEBRUARY 25, 2020
Retailers are facing a personalization paradox. Fifty-three percent of consumers want retailers to respect their anonymity in 2020; at the same time 61 percent want more personalization in marketing, messaging and promotions. That paradox is evident between the appeal of personalization and a stepped-up need for privacy.
PYMNTS
APRIL 5, 2016
In the recent instance of the XSS security vulnerabilities that befell the online shopping cart Zen Cart, for example, the company acted quickly to solve its own problem. But the fact is that things don’t always sort themselves out, effectively, in the retail security game. Sometimes, that assumption is accurate.
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.
PYMNTS
MARCH 26, 2019
Retailers in the physical world are at a real disadvantage when it comes to knowing the customers in their stores, and what they do once they get there. The list goes on, but suffice it to say, the jokes about digital retailers knowing more about customers than they know about themselves didn’t appear in the culture out of nowhere.
PYMNTS
JUNE 26, 2019
They may enjoy strolling the aisles of physical retail, but many customers still want support features that enable them to quickly and easily find and buy items, through self-serve offerings and other automation technologies. The June Automated Retail Tracker charts all the latest developments and deployments of these models and more.
PYMNTS
JANUARY 22, 2021
Young B2B FinTechs secured some of their first investments in areas that include small business accounting, alternative lending and financial management. Also securing seed funding is Bazaar, a B2B online marketplace based in Pakistan developed for the food and grocery arena to connect wholesale suppliers to retailers.
PYMNTS
NOVEMBER 26, 2020
Social Security Administration, for example, requires recipients using its website to provide unique eight-digit codes sent via text to their smartphones in addition to their usernames and passwords when they sign up or log in. . It also outlines some of the frictions entities face when doing so. .
Accountancy Today
SEPTEMBER 14, 2021
FRP’s Debt Advisory team has helped Rigby Commercial, the property arm of Blackpool-headquartered The Rigby Organisation (Rigby), secure a new £5.6m The deal was led by its Debt Advisory team, which had been briefed to help Rigby secure a new long-term funding partner following a short-term bridge lending agreement. finance package.
PYMNTS
APRIL 13, 2020
Prepare for a big week of retail data, all of it unprecedented in light of the COVID-19 pandemic. Starting with the Commerce Department retail sales data on Wednesday, retailers will get a sense of how much consumers are spending and the retailers they are spending with. For retailers, there are no surprises from March.
PYMNTS
JANUARY 28, 2021
PYMNTS’ latest research report, Online Security And The Debit-Credit Divide , a PYMNTS collaboration with Elan based on a survey of 2,466 U.S. consumers have shifted to digital shopping channels to purchase retail products, a fourfold increase since the start of the pandemic. The report finds that 45 percent of U.S.
PYMNTS
NOVEMBER 27, 2020
Businesses are also examining virtual card options that can allow employees to make company payments securely and conveniently during the pandemic. Firms are also prioritizing security as they transact online more heavily as well. Virtual Cards To Bring Greater Security To Transactions. Read that story in the Tracker.
PYMNTS
JULY 7, 2020
Now a new Israeli tech accelerator is turning its efforts toward retail innovation and helping to start new technologies for payments and biometrics. Called the Retail Innovation Club , it was founded as a facilitator as well as an accelerator. “We Healthcare startups have shifted into retail tech with in-store solutions.
PYMNTS
JUNE 24, 2020
The retailer, along with Harbin Pharmaceutical Group Holding Co., and a sizable majority of supporting secured lenders, have come to a deal “in principle” for a sale of GNC’s business. Additionally, the retailer has secured roughly $130 million in further liquidity. At that time, improved bids can be brought forward.
PYMNTS
OCTOBER 14, 2020
Retailers therefore have to determine the number of speed bumps their customers are willing to put up with as well as the special features they can offer to encourage shoppers to overlook these minor inconveniences. . That is something that can be used [in security efforts], depending on the specific issue or the resolution.” .
PYMNTS
DECEMBER 9, 2018
With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance.
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 1, 2020
Amazon , which is fuming over a decision by its India business partner Future Retail to sell assets to rising Amazon rival Reliance Industries , has asked India's top securities regulator to block the deal, Reuters reported. Securities regulators therefore should block the deal, Amazon reportedly argued in the letter.
PYMNTS
MAY 16, 2019
Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. The news comes amid yet another online retail cyberattack, this one targeting Japan’s Fast Retailing, the company that owns the Uniqlo retail chain.
PYMNTS
NOVEMBER 8, 2020
Future Retail is attempting to prevent partner Amazon from meddling further in its $3.4 Amazon sent a letter to India's Securities and Exchange board, calling Future's statements misleading and saying the whole situation amounted to fraud. percent stake in Reliance Retail. eCommerce giant in a New Delhi court, Reuters reported.
PYMNTS
DECEMBER 2, 2020
Businesses and consumers alike are looking for secure, streamlined ways to make payments online, and the pandemic’s challenges have accelerated pushes to find a solution,” the new Tracker states , providing a glimpse into the opportunities for safeguarding the space and keeping consumer confidence high.
Future CFO
JANUARY 4, 2023
Digital native retail businesses are expected to see resounding success in the coming few years, but their existing strategies might need a tweak soon as traditional retailers are catching up, said Bain & Company recently. Digital native retail businesses are retailers which initially operated exclusively online, Bain defined.
PYMNTS
MARCH 25, 2019
Thus, IoT security is becoming an essential part of modern conversations. Department of Homeland Security (DHS) and data security and privacy practice chair of D.C.-based A lot of the devices we’re talking about have no security. They weren’t built with security in mind, and there really isn’t any way to patch them.”.
PYMNTS
JULY 24, 2019
Despite IoT’s popularity, however, security a nd privacy issues continue to make headlines. A popular white-label GPS tracker sold by more than a dozen companies was found to have a number of security flaws earlier this year, while a new strain of Mirai malware specifically targeting IoT devices was recently discovered.
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