ASOS names second interim CFO amid turnaround plans
CFO Dive
FEBRUARY 13, 2023
Online fashion retailer ASOS swapped interim CFOs as it attempts to fend off economic headwinds and boost profitability.
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Future CFO
APRIL 10, 2024
Retail organisations in the Asia-Pacific region are selecting Workday Financial Management to drive greater profitability, according to a recent press release from the system software company. Retailers across the APAC region including Aesop, Charles & Keith, Kolmar Korea Holdings Co., Ltd, Mondelez, MUSINSA Co.,
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PYMNTS
OCTOBER 1, 2020
1) after the first major data report of the fourth quarter showed a continuation of America’s recent economic woes. New figures from the Bureau of Economic Analysis showed that personal income fell 2.7 It’s a quandary, experts say, that will partly depend on retailers’ efforts meeting customers where and how they want to shop.
PYMNTS
JANUARY 15, 2019
With the possibility of a potential recession looming, among other factors, retailers may be rethinking major decisions. At National Retail Federation’s Big Show in New York on Monday (Jan. And Hunter noted that, among other factors, retailers are having a harder time getting workers than before.
CFO Simplified
FEBRUARY 11, 2022
Larry Chester, CEO of CFO Simplified, was featured on NADC BoardTalk to discuss business planning for small to medium-sized businesses in 2022. When economic winds change, small and middle-market companies must be able to pivot. Take a look at his feature below: [link]. Where to Go From Here. appeared first on CFO Simplified.
PYMNTS
JUNE 29, 2020
Retailers looking for the shape of an economic recovery have had several letters to choose from. There’s nothing in the economic toolkit that addresses the coronavirus,” Berson told PYMNTS. There are things in the economic toolkit that address inflation. But the plan is so dependent upon how the virus propagates.
PYMNTS
APRIL 21, 2020
The retail bankruptcy watch intensified Tuesday (April 21) as the department store sector was hit by reports of yet another major player looking at that option. Lord & Taylor, now joining Neiman Marcus, is considering a bankruptcy filing as the COVID-19 lockdown continues to decimate non-essential retail. billion in sales.
PYMNTS
JANUARY 6, 2021
But as Diaz stated, the model is based on sound economic principles. CoDi also helps broaden the financial ecosystem itself, said Diaz, as account openings are streamlined (lower-tiered accounts and small retail-focused transactions need not have the same AML/KYC scrutiny that would be in place with larger payments, he said).
Anaplan
JANUARY 3, 2022
The road to 2030 is paved with uncertain economic markets, fluctuating employment rates, and waning consumer confidence. Retailers need to prioritize affordability to stay relevant, let alone competitive.
PYMNTS
JUNE 5, 2020
It’s at this point that the pandemic and its associated economic issues would likely turn this story into a sad tale – but not this time. Schalow and his members are upbeat about their prospects for the sport and for independent retailers as they reopen. The running business in particular always kind of bucks the economic trend.
PYMNTS
SEPTEMBER 21, 2020
The tech giant plans to ship as many as 80 million worldwide, according to PYMNTS. Apple's plans are to launch four new 5G phones this October, which wasn't officially announced but has been only a casually-guarded secret this year, PYMNTS reported.
PYMNTS
DECEMBER 13, 2016
The disputes over Taiwan may rage on, but the fact remains that the two consumer-driven juggernauts are dependent upon one another for markets, demand and economic livelihoods. In an online push of its own, Macy’s has a 65 percent stake in an online retailer, JV Fung Retailing Ltd., How intertwined? based in Hong Kong.
PYMNTS
MARCH 30, 2020
retail picture is bleak in this time of COVID-19. The Confederation of British Industry (CBI) said on Thursday (March 26) that its monthly survey of retailers showed the weakest outlook since April 2009. The CBI says retail sales volumes will fall sharply to April, with retailers more pessimistic than at any time since April 2009.
PYMNTS
JUNE 18, 2020
Consumers want to invest in high-end items and home improvement projects to enhance their surroundings even amid economic concerns. is comprising nearly half of the retail growth in the U.S. 15,000: Minimum count of merchants or brands that are offering or plan to offer BNPL. And the dramatic consumer shift to Digital 3.0
PYMNTS
MARCH 6, 2020
That’s the case with the new employment report from the Bureau of Labor Statistics, which showed that retail jobs held steady between January and February. Manufacturing, mining, wholesale and retail trade, and transportation and warehousing saw little change in employment for the month, the BLS said. Sometimes no news is good news.
PYMNTS
OCTOBER 5, 2020
Luxury retail took a nasty hit in 2020, as its intimate and consultative manner of conducting business in-person for big-ticket purchases was rendered nonexistent. Combine the absence of physical retail for luxury goods with the sweeping job loss and economic destruction left in COVID’s wake, and luxury has landed in hot water for the moment.
PYMNTS
MARCH 11, 2020
If it weren’t for a certain pandemic that is dominating most news, the two biggest stories in retail over the past week would have been stunning at any other time. These new locations are part of the company’s plans to add 100 new stores – 75 Ross and 25 dd’s DISCOUNTS locations – during fiscal 2020.
PYMNTS
NOVEMBER 21, 2019
Walmart will expand aggressively in China , with a plan to add 500 new locations in the country over the next half decade or so, according to a report by CNN. The news comes as China is in the midst of an economic slowdown and a protracted trade war with the U.S.
PYMNTS
MAY 12, 2020
As they gear up to restart their economies amid the pandemic, states from New York to Massachusetts are planning phased reopenings. That stage encompasses retail for curbside pickup and drop-off or in-store pickup; construction; wholesale supply chain as well as manufacturing; and agriculture, fishing and forestry. Brain Corp.,
PYMNTS
FEBRUARY 24, 2020
As 2020 unfolds, the retail business has been dramatically altered. But with consumer spending holding steady, it’s important for retailers to grasp the opportunity to create innovative ways to get, keep and grow customers. And retailers that deploy experiential tactics drive repeat purchases at rates nearly twice those who don’t.
PYMNTS
MAY 4, 2020
The great retail resettling is on. However, Texas retail opened for the most part over the weekend, with results that showed consumer behavior to be curious rather than aggressive. The analysis calls into question the timing and merit of the Texas decision to reopen nonessential retail. Texas is just the opposite.
PYMNTS
MAY 7, 2020
State governments are dropping the ball on retail reopenings. As the week plays out, inconsistent direction and confusion have been standard with New York, Texas, California and Hawaii getting criticized by retailers big and small. After making the statement, Simon retracted it, pledging cooperation with local officials.
PYMNTS
NOVEMBER 16, 2020
The new combined bank will be the fifth-largest retail bank in the country. US Economic Forecasts Grim Amid Escalating COVID-19. Fears of economic freefall are mounting as the U.S. DoorDash IPO Filing Shows Expansion Plans Beyond Food. The second-biggest banking deal in the U.S. billion, following weeks of talks.
PYMNTS
APRIL 16, 2020
Wednesday’s Commerce Department retail sales figures showed in no uncertain terms that consumer spending for non-essential goods has taken a huge hit. While many analysts are predicting a complete cratering of non-essential retail for April, the PYMNTS data shows that the category is shifting to digital rapidly. What are they buying?
PYMNTS
FEBRUARY 7, 2020
The rise of eCommerce has been an inexorable one, and the retail landscape has shifted for retailers. In a statement earlier in the week, Macy’s CEO Jeff Gennette said there is a “clear vision” moving forward, as Macy’s seeks to “fit into retail today.” Welcome, perhaps, to the mauling of the Great American Mall.
PYMNTS
MAY 19, 2020
The results reversed a trend from last quarter, where the chain was one of many physical retailers facing a tepid holiday season that missed analyst expectations for sales, comparable-sales growth and earnings across the board. But things have reversed dramatically for the retailer amid the COVID-19 pandemic. percent to $134.6
PYMNTS
MAY 11, 2020
Speaking at a virtual conference about the future of money, European Central Bank (ECB) executive board member Yves Mersch said a retail central bank digital currency (CBDC) is a game-changer. “A However, a retail CBDC, accessible to all, would be a game-changer, so a retail CBDC is now our main focus.”.
CFO News Room
NOVEMBER 5, 2022
The sports betting company also raised its revenue guidance and warned a prolonged economic downturn could impact spending by its customers. Investors are focusing on PayPal’s lowered annual revenue growth forecast, with the company expressing caution about the impact of an economic downturn. The stock fell 3.3%
CFO News Room
NOVEMBER 13, 2022
If you’re a chief marketing officer (CMO), the current economic uncertainty undoubtedly creates anxiety for you, your team, and your agencies. The Mobile Marketing Association (MMA) has demonstrated the tight correlation between advertising spend and economic indicators like GDP growth by looking at historical data.
PYMNTS
OCTOBER 10, 2018
By some accounts, the 2018 holiday season is going to be a bang-up year for retailers. retailers are expected to increase 4.8 percent this year, according to the National Retail Federation (NRF) — well above the 3.9 percent growth seen by the retail market one year ago. However, the hiring is not limited to retailers.
PYMNTS
MAY 30, 2018
A few months after Nordstrom rolled out its Nordstrom Local concept in West Hollywood, the retailer is planning on adding two more locations in Southern California. The company is also open to bringing the concept to other cities, retail news source Chain Store Age reported. The 3,000-square-foot store boasts multiple features.
PYMNTS
NOVEMBER 21, 2020
18) by The Century Foundation, two government programs authorized by the Coronavirus Aid, Relief and Economic Security Act (CARES Act) expire on Dec. So it’s good to see some major retailers giving back for the holiday. Plan a super spread,” it read. About 12 million jobless workers around the U.S. That would cut 7.3
PYMNTS
JULY 8, 2019
Can cameras replace cashers in retail? According to a recent Wall Street Journal report, British grocer Tesco plans to open a “pick and go” or “frictionless shopping” store to the public next year, following testing the store technologies with employees. The grocery industry is making a go of it. The latest effort comes from the U.K.
PYMNTS
NOVEMBER 10, 2020
During this period of economic recession and job loss, reopening and reinvention, with new infection hotspots popping up weekly, starting a new business sounds somewhere between slightly iffy and totally bonkers. Each has a slightly different take on new retail and ecommerce shopping and payments experiences.
PYMNTS
JUNE 2, 2020
The past several months have been largely defined in the retail world by merchants and brands making quick digital pivots to stay afloat in an environment that’s gone from “digital sometimes” to “digital mostly.”. When selling online became the only game in town, retailers across the board got very seriously digital overnight.
CFO News Room
NOVEMBER 4, 2022
On Friday, Morgan Stanley’s Adam Jonas pulled the firm’s ratings and price target on the used-car retailer, citing deterioration in the used car market and a volatile funding environment. DraftKings — DraftKings fell nearly 28% after warning a prolonged economic downturn could impact spending by its customers.
CFO News Room
FEBRUARY 5, 2022
The new roads, ports, airports and railway network that will come up will connect India to Bharat and allow for the creation of new economic hubs, apart from the existing metros, and Tier-I and II cities. The capex planned by the government, if executed well, will also benefit the banking sector. Views are personal.
PYMNTS
NOVEMBER 22, 2019
Retailers are tapping into voice technology to help consumers order their favorite products such as restaurant takeout as they expand their artificial intelligence (AI) strategies. From 7-Eleven to Chipotle Mexican Grill, retailers are expanding their digital ordering strategy with the help of voice assistant technology. Kroger Co.
PYMNTS
AUGUST 23, 2019
For a glimpse at how innovation is playing out in the retail world, it always helps to take a look at recent developments in the world of quick-service restaurants, or QSRs. underscored the growing importance of digital innovation in this corner of the retail world by its recent hiring of Chris Turner as chief financial officer.
PYMNTS
OCTOBER 31, 2016
Using automation and unattended retail in certain food courts, the Country is proving that this could indeed be the way of the future, especially the food and hospitality industry. Obviously this unattended retail approach is a departure from typical food court concept. “We And the government knows that.
Future CFO
OCTOBER 18, 2019
Improvements in September data While the quarter’s growth slows, China’s retail sales went up 7.8% While various analysts attribute China’s economic slowdown to its trade war with the US, IMF said it estimates the trade tension will cumulatively reduce the level of global GDP by 0.8% As China reported 6.4% of growth in Q1 and 6.2%
PYMNTS
OCTOBER 5, 2020
percent stake in the Swiss duty-free retailer Dufry , Bloomberg reported on Monday (Oct. a private-equity company, also plans to invest in the Swiss duty-free company, which has been hard-hit by the pandemic, Bloomberg noted. The company said in June that it plans to drastically cut personnel costs by up to 35 percent, per Bloomberg.
CFO News Room
DECEMBER 8, 2022
More retailers are packing up goods in stores for delivering e-commerce orders as they look to speed up shipments, streamline inventory and make more use of their bricks-and-mortar sites. . Beauty goods retailer. Macy’s plans to use more space at its stores for fulfillment operations. Ulta Beauty Inc., department store chain.
CFO News Room
DECEMBER 9, 2022
companies have spent hundreds of billions in recent quarters on these transactions, describing it as a good use of capital that indicates conviction in their plans and helps reduce share count, which in turn can boost stock prices. home improvement retailer. a sporting goods and outdoor recreation retailer. internet retailer.
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