Content about Economics

December 16, 2014

Gift cards and clothing top the lists of holiday shoppers this year, according to a new Harris Poll conducted for Macy's.

Gift cards and clothing top the lists of holiday shoppers this year, according to a new Harris Poll conducted for Macy's.

December 16, 2014

Fast-growing payments startup Adyen has secured $250 million from investors who have valued the Amsterdam-based startup at $1.5 billion. 

Fast-growing payments startup Adyen has secured $250 million from investors who have valued the Amsterdam-based startup at $1.5 billion.

Adyen serves as a middleman for Facebook, Spotify, Airbnb and other merchants, enabling them to accept Visa, MasterCard and soon bitcoin in nearly 200 currencies worldwide.

The eight-year-old company allows merchants to accept payments on the Web, mobile and more recently at individual points of sale.

December 11, 2014

Wet Seal may file for bankruptcy protection if it fails to immediately resolve its liquidity issues, the company said.

Wet Seal may file for bankruptcy protection if it fails to immediately resolve its liquidity issues, the company said.

December 9, 2014

A nightmare scenarios unfolded at Conn’s this week when the company disclosed a huge third quarter loss, the departure of its CFO and withdrew guidance for the coming year amid disturbing delinquency trends in its credit card receivables portfolio.

A nightmare scenario unfolded at Conn’s this week when the company disclosed a huge third quarter loss, the departure of its CFO and withdrew guidance for the coming year amid disturbing delinquency trends in its credit card receivables portfolio.

December 9, 2014

The national level of customer satisfaction fell 0.7% in the third quarter of 2014 to 75.6 on a 100-point scale, according to the American Customer Satisfaction Index (ACSI), pointing to weak spending growth for the fourth quarter.

The national level of customer satisfaction fell 0.7% in the third quarter of 2014 to 75.6 on a 100-point scale, according to the American Customer Satisfaction Index (ACSI), pointing to weak spending growth for the fourth quarter. This is the third consecutive quarterly decline in customer satisfaction for the country as a whole, which is at its lowest level since early 2011.

December 5, 2014

Teen retailer Delia’s Inc. plans to liquidate operations and file for Chapter 11 bankruptcy protection "in the very near term."

Teen retailer Delia’s Inc. plans to liquidate operations and file for Chapter 11 bankruptcy protection "in the very near term."

The company has struggled with weak sales for years and has not reported an annual profit since 2007.

Several teen apparel retailers have been losing market share to fast-fashion brands such as H&M, Forever 21 and Zara.

November 26, 2014

Destination Maternity has appointed the managing partner of investment firm Voce Capital to the company's board of directors.

Destination Maternity has appointed the managing partner of investment firm Voce Capital to the company's board of directors.

"As a long-term investor in Destination Maternity, we look forward to bringing additional shareholder perspective to the board and continuing to work constructively with the company to help enhance its value," J. Daniel Plants of Voce Capital said.

November 18, 2014

For many shoppers, it’s that time of year to skip the holiday meal, devise a shopping strategy and get in line, right? Well, not if you are a Toys”R”Us Rewards member. The company is now among the growing ranks of retailers looking to create an aura of exclusivity with shoppers by promoting early access to the hottest holiday prices. 

For many shoppers, it’s that time of year to skip the holiday meal, devise a shopping strategy and get in line, right?

Well, not if you are a Toys”R”Us Rewards member.

The company is now among the growing ranks of retailers looking to create an aura of exclusivity with shoppers by promoting early access to the hottest holiday prices.

The retailer plans to give its nearly 19 million loyalty program members a sneak peek of Black Friday deals on more than 100 items beginning Nov. 23.

November 13, 2014

Sears is offering early access to Black Friday deals as a means to entice customers to join its free Shop Your Way membership-based loyalty program.

Sears is offering early access to Black Friday deals as a means to entice customers to join its free Shop Your Way membership-based loyalty program.

The retailer said its Shop Your Way members can begin Black Friday a week early at Sears.com when exclusive pricing on key items becomes available at 6 p.m. on Nov. 20. Then on Thanksgiving Day, Sears stores will open at 6 p.m. with more than 1,000 doorbuster deals continuing through 1 p.m. on Black Friday.

October 22, 2014

Office Depot, Inc. is set to assist small businesses this holiday season with its Elf Who Helps Small Business contest.

Office Depot, Inc.

October 13, 2014

Kmart said its store payment systems were penetrated by cybercriminals who used a form of malware undetectable by current anti-virus systems.

Kmart said its store payment systems were penetrated by cybercriminals who used a form of malware undetectable by current anti-virus systems.

The retailer said its information technology team on October 9 detected its payment data systems had been breached and immediately launched a full investigation working with a leading IT security firm. It was determined the breach began in early September and upon detection Kmart said it was able to quickly remove the malware.

October 13, 2014

Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.

Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.

The operator of 198 stores in 23 states was founded in 1901 and sought to serve small underserved markets with a broad range of value priced merchandise.

October 10, 2014

The recently released 2014 Food, Drink, and Consumer Goods Outlook Survey from audit, tax and advisory firm KPMG is highlighting some key initiatives that consumer goods executives are focusing on to transform their businesses. The goals range from updating operational efficiencies and technology to making a push for product innovation, according to survey results.

The recently released 2014 Food, Drink, and Consumer Goods Outlook Survey from audit, tax and advisory firm KPMG is highlighting some key initiatives that consumer goods executives are focusing on to transform their businesses. The goals range from updating operational efficiencies and technology to making a push for product innovation, according to survey results.
 

October 6, 2014

Kohl’s is taking a different approach to customer engagement with the launch of its Yes2You Rewards loyalty program nationwide. The program aims to foment customer loyalty by building deeper relationships and providing customers with a more personalized, value-driven shopping experience.

Kohl’s is taking a different approach to customer engagement with the launch of its Yes2You Rewards loyalty program nationwide. The program aims to foment customer loyalty by building deeper relationships and providing customers with a more personalized, value-driven shopping experience.

October 6, 2014

To bring transparency and simplicity to the changing health insurance market, Walmart is working with DirectHealth.com to launch Healthcare Begins Here, an in-store program designed to educate customers on health insurance options.

To bring transparency and simplicity to the changing health insurance market, Walmart is working with DirectHealth.com to launch Healthcare Begins Here, an in-store program designed to educate customers on health insurance options.

DirectHealth.com, an online health insurance comparison site, which is an independent licensed health insurance agency, will provide a resource that brings Walmart customers access to health insurance information and enrollment support.

September 26, 2014

A global report by Capgemini, a leading provider of consulting, technology and outsourcing services, claims that consumers consider social media a less important part of their customer journey — from awareness, through to post-sale activity — compared to two years ago.

A global report by Capgemini, a leading provider of consulting, technology and outsourcing services, claims that consumers consider social media a less important part of their customer journey — from awareness, through to post-sale activity — compared to two years ago.

September 23, 2014

PayItSimple, a new service that lets consumers charge any purchase on their existing credit cards and pay it back in monthly, interest free installments, has launched in the United States.

PayItSimple, a new service that lets consumers charge any purchase on their existing credit cards and pay it back in monthly, interest free installments, has launched in the United States.

PayItSimple supports an omnichannel shopping experience and is available for e-commerce, brick-and-mortar, mobile and all other payment platforms.

September 15, 2014

Late last month, Ann Inc. received an open letter from activist investors Engine Capital and Red Adler urging the company to sell at a substantial premium above current stock price.

Late last month, Ann Inc. received an open letter from activist investors Engine Capital and Red Adler urging the company to sell at a substantial premium above current stock price. The company has today publicly responded to the letter, stressing its board is “very active and consistently has been, and remains, focused on enhancing shareholder value.”

Ann Inc. also said its board regularly reviews all options and uses a financial adviser to help evaluate them.

September 10, 2014

During a Special Preview Event, Hank Mullany, president, Toys“R”Us, U.S., discussed steps the company has taken so far this year to prepare for the upcoming holiday season.

During a Special Preview Event, Hank Mullany, president, Toys“R”Us, U.S., discussed steps the company has taken so far this year to prepare for the upcoming holiday season.

The company has bolstered its leadership team, completed inventory clearance event to make way for holiday products and launched a new loyalty program called Rewards“R”Us.

September 5, 2014

Dollar Tree and Family Dollar have amended their merger agreement to include a commitment by Dollar Tree to divest as many stores as necessary or advisable to obtain antitrust clearance for the previously announced cash and stock transaction.

Dollar Tree and Family Dollar have amended their merger agreement to include a commitment by Dollar Tree to divest as many stores as necessary or advisable to obtain antitrust clearance for the previously announced cash and stock transaction.

All other terms and conditions of the merger agreement remain the same as announced on July 28, 2014. The two companies also said that their expectations for a closing date for the transaction have accelerated to as early as the end of November 2014.

August 25, 2014

Hudson’s Bay has appointed John Caplice to the position of SVP, treasury and investor relations, effective Sept. 2.

Hudson’s Bay has appointed John Caplice to the position of SVP, treasury and investor relations, effective Sept. 2.

August 25, 2014

Ann Inc. is being urged to explore options, including a sale, by activist investor Engine Capital and Red Alder. The two firms, who collectively own more than 1% of the outstanding shares of Ann Inc., are publicly urging the company to sell at a substantial premium above current stock price.

Ann Inc. is being urged to explore options, including a sale, by activist investor Engine Capital and Red Alder. The two firms, who collectively own more than 1% of the outstanding shares of Ann Inc., are publicly urging the company to sell at a substantial premium above current stock price.

In an open letter to the retailer’s board of directors, Engine Capital and Red Alder stated that the company is “deeply undervalued” and could be worth $50 to $55 a share to an acquirer, or a 33- to 46.5% premium to its current stock price.

August 13, 2014

Amazon launched a mobile point-of-sale solution called Amazon Local Register that gives merchants a low-cost payment acceptance method while providing it with new insights into offline commerce.

Amazon launched a mobile point-of-sale solution called Amazon Local Register that gives merchants a low-cost payment acceptance method while providing it with new insights into offline commerce.

August 7, 2014

Big name CPG companies Procter & Gamble and Kraft struggled to show growth with their recent quarterly results, but that wasn’t the case at White Wave Foods.

Big name CPG companies Procter & Gamble and Kraft struggled to show growth with their recent quarterly results, but that wasn’t the case at White Wave Foods.

August 6, 2014

Payment solutions provider Global Payments has signed a referral agreement with BitPay, a payment service provider (PSP) specializing in bitcoin digital currency, which will allow Global Payments to incorporate the cryptocurrency into its product suite and offer bitcoin payment acceptance to its worldwide merchants.

Payment solutions provider Global Payments has signed a referral agreement with BitPay, a payment service provider (PSP) specializing in bitcoin digital currency, which will allow Global Payments to incorporate the cryptocurrency into its product suite and offer bitcoin payment acceptance to its worldwide merchants.