article thumbnail

Poshmark Files For IPO After Posting Record Profits

PYMNTS

Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We We only recently became profitable and have experienced net losses. Security and Exchange Commission (SEC). . million in 2018 and a net loss of 48.7

article thumbnail

Retail Lobby: “We Lied About Organized Theft”

Barry Ritholtz

billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” retailers retracted its claim that “organized retail crime” accounted for nearly half of all inventory losses in 2021 after finding that incorrect data was used for its analysis.” No, “ nearly half ” of $94.5

Retail 140
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Data Shows 42 Pct Of Small Cap US Businesses Failing To Turn Profit

PYMNTS

The number of small U.S. companies not turning a profit has reached an unfortunate historic high due to the coronavirus pandemic, the Financial Times reports. The Russell 2000 index shows 42 percent of small-caps are either just breaking even or operating a loss. Nicholas Bohnsack , president of U.S. percent from normal.

article thumbnail

HSBC Sees Profits Fall As Bad Debts Top $6B

PYMNTS

HSBC, Europe’s biggest bank, has seen its profits plunge in the first six months of 2020, squeezed by low interest rates and the COVD-19 pandemic, The Telegraph reported. billion, six times the number of defaulted loans last year as layoffs have hurt customers’ ability to repay debt. Pre-tax profits fell to $4.3

article thumbnail

Is Robinhood Safe? – Good Financial Cents®

CFO News Room

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?

article thumbnail

Duncan Burgess, Global Finance Director

CFO News Room

Duncan Burgess’ “number one passion” in his role is people. He then moved to the security construction technology company ICx Technologies as division controller. This meant everyone felt empowered to make the appropriate decisions to drive the company’s profitability”. “By Global issues affecting finance.

Finance 130
article thumbnail

Uber Ousts Uber Eats Head As It Looks To Stem Losses

PYMNTS

As Uber aims to stem losses from its Eats business in places where there is no indication that it will turn into a number one or two player, the executive leading the Eats business of Uber is departing the firm. Securities and Exchange Commission filing. percent business stake. Zomato was valued at $3.55