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Retail Lobby: “We Lied About Organized Theft”

Barry Ritholtz

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.

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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

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Foot Locker, JD.com, Gap and others

CFO News Room

The apparel and footwear retailer also raised its full-year forecast and reported an unexpected rise in comparable store sales. in premarket trading after an unexpected return to profitability and better-than-expected sales. Williams-Sonoma reported better-than-expected sales and profit for its latest quarter. in the premarket.

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Digital native retail CFOs: What’s the next move for success?

Future CFO

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.

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Zscaler, Marvell, DoorDash and more

CFO News Room

Zscaler – The cloud security company’s shares dipped 11% following its quarterly earnings report, despite Zscaler posting strong results. Asana – Shares of the work management platform operator plunged about 11% after the company reported a loss for the most recent quarter, though it was narrower than expected. Source: Nasdaq.

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Retailers Win In Stimulus Bill

PYMNTS

Retail came up as a big, but very subtle, winner in the economic stimulus package passed by the Senate last night (March 25) in response to the coronavirus pandemic. While most of the focus has been on the $1,200 payout to consumers, retailers will also gain from the bill’s revision of two key points from the 2017 tax bill.

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10 Thursday AM Reads

Barry Ritholtz

New York Times ) • Spotify Is Screwed : Spotify is the world’s biggest music streamer but rarely turns a profit and just cut 17 percent of its workforce. 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.