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Top News In Payments: SoftBank Reports $6.5B Loss; FIS Sees Strong Merchant Sales In Q3

PYMNTS

billion loss on Wednesday (Nov. Simplification Serves LendingClub Well As It Pushes for Profitability. The firm went public in 2014 and had just managed its first quarter of profitability in early 2016 when scandal rocked the business. FIS Sees Strong Merchant Sales, Jump in Cross-Selling Activity in Q3.

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10 Wednesday AM Reads

Barry Ritholtz

My mid-week morning train WFH reads: • Is Rolex a Non-Profit? The Federal Reserve chair spent the early pandemic bemoaning the loss of a strong job market. New York Times ) see also Powell Will Find Much to Love in Retail Sales Letdown : The latest report landed with a mixed reception. Can He Keep It?

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UK’s Dixons Carphone Warehouse Shutters 530 Locations, 3K Jobs Lost

PYMNTS

company is closing 531 stores, which will result in the loss of 3,000 jobs. The company’s CEO, Alex Baldock, said that the about 300 large locations are “doing well, with footfall steady, and that is why we are placing a big bet on these stores and investing millions of pounds in them.”. The stores will close on April 3.

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Advent In Talks To Buy 50 Percent Of Walmart Brazil

PYMNTS

According to Reuters , other private equity firms interested in possibly investing include GP Investments Ltd and ACON Investments LLC. But Walmart has also suffered operating losses in Brazil for the past seven years, due in part to inferior locations, inefficient operations, labor issues and uncompetitive prices.

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Walmart Shares Up Across The Board On Big Earnings Beats

PYMNTS

The planet’s largest retailer by sales crushed their way through Q2, with bigger than expected gains in revenue, earnings, same-store sales and eCommerce sales than analysts were predicting before the numbers hit the wires. The headline number was the highly watched same-store sales figure. That picked up 4.5

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Levi Goes ‘Soft And Stretchy’ In A Rigid Retail Market

PYMNTS

According to Christy of S&P, retailers typically open new stores to offset bleaker same-store sales. 11 that profits were up by 69 percent in the latest quarter. 28, profits were up from a year earlier by $58 million, and revenue was up 3.8 In Asia, sales rose by 5 percent to $179 million. For the quarter ended Aug.

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How to create & use pro forma statements

Cube Software

The answers—based on different sources of data like market research or historical sales information—guide internal decision-making to promote regular, sustainable growth as well as create contingency plans for worst-case or best-case scenarios. For example, they might ask, "what if our revenue decreases by 20%?"

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