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American Dream Misses $8.8 Million Loan Payment

Retail TouchPoints

New Jersey mall and entertainment complex American Dream has failed to make an interest payment on municipal loans sold to help finance the $5 billion venture. The missed payment was for $8.8 Payment on the $287 million debt was due Aug. The balance in the reserve account previously used to make payments on the loans is $862.12.

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Bed Bath & Beyond Tech Chief Resigns as Retailer Deals with Data Breach

Retail TouchPoints

No specific reason was given, but the filing noted that Masood’s departure “was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices or financial statements.”. He was replaced as CFO on an interim basis by SVP and Chief Accounting Officer Laura Crossen.

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NJBIZ: American Dream Reaches Deal with Lenders for 4-Year Extension on Loan Repayment

Retail TouchPoints

American Dream missed a payment of $8.8 1, 2022, and the balance in the reserve account previously used to make payments on the loans is $862.12. However, the missed payment didn’t constitute a default nor did it require the megamall to pay back the $287 million loan it was for. million on Aug.

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Consumers Turn to BNPL, BOPIS to Cope with Rising Prices and Supply Chain Uncertainty

Retail TouchPoints

A recent report from the payments and shopping service Klarna found that 34% of shoppers actually plan to spend more on gifts this year than last year, with Gen Z ( 57% ) and millennials ( 53% ) more likely than other age groups to expand their budgets. However, BNPL is now neck-and-neck with store credit cards at 13%.

Consumer 260
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Even as Footfall Increases, Store Footprints are Shrinking

Retail TouchPoints

And yet, a recent study from LeaseQuery , which compares the number and value of retail leases from 2019 to 2022, tells a slightly different story. This study showed that despite the fact that more retail stores opened than closed in 2021 ( just barely ), retailers’ overall lease quantities remained flat and are even declining.

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Top Risks For Retail Businesses In 2021 (And in The Next Decade)

Retail TouchPoints

This has increased e-commerce’s share of global retail to 17% in 2020, up from 14% in 2019. More data processed gives way to more possibilities of data breaches. Similarly, Home Depot also faced a large-scale data breach in 2014, leading to over 56 million payment information being stolen. million by 2025, up from $431.6

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Webinar Recap: Taking The Pulse Of Marketers And Consumers To Navigate The Shift To Digital

Retail TouchPoints

since the 2019 State of Marketing report. “It Stores will be critical again this year, but more as fulfillment centers providing curbside pickup, BOPIS or other contactless transactions. AI Leading The Transformation. Artificial intelligence (AI) is a critical component of successful digital and customer transformation.

Marketing 257