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One day after announcing the departure of CEO Mark Tritton , Bed Bath & Beyond has named Laura Crossen as its new SVP of Finance and Chief Accounting Officer, and Susie Kim as SVP of Treasury and Investor Relations. Kim, who joined the retailer in May 2021 to lead the company’s investor relations, will take over Crossen’s previous role.
As economic pressures and living costs surge, more people than ever are considering using point-of-service (POS) finance — such as buy now, pay later and installment loans — to manage their cashflow. It’s clear that there is a consumer-driven need for more flexible finance and smarter buying power. .
The Shopper’s Search for Buying Power Offering multiple financing options expands buying power and gives customers more motivation to buy. The study also suggests that as the spend amount goes up, it becomes even more important to the consumer that their preferred financing method is available.
Bed Bath & Beyond has named John Barresi as SVP of Finance and Chief Accounting Officer, as the retailer continues to bolster its leadership team as part of its three-year transformation strategy. Barresi will join Bed Bath & Beyond on June 7, 2021, reporting directly to EVP and CFO Gustavo Arnal.
Thanks to Australia’s world-leading management of the health and economic crisis, a majority of consumers report that the pandemic either had no impact or a positive impact on their physical, mental and financial wellbeing. More generally, many consumers took a cautious approach to their finances amid the pandemic.
Long holds 25 years of financial leadership, strategic development and management experience. Kevin Grant, a senior member of the finance team since 2021, has been promoted to CFO to replace Long. Prior to AKA, he was CFO of Samsclub.com and held leadership positions within Walmarts e-commerce division.
Paula Dempsey, SVP of Finance and Investor Relations, will take on the role of interim CFO until a permanent successor is named. She has extensive retail experience, most recently as SVP of Corporate Finance for Mattress Firm , which was purchased by Tempur Sealy earlier this month. For Q4 of its fiscal 2022, which ended Jan.
Roe CFO, effective June 1, 2021. Roe will have responsibility for all finance functions and lead the retailer’s Strategy and Consumer Insights teams. for 25 years in positions including VP, Controller and Chief Accounting Officer; VP of Finance for the Jeanswear and Imagewear Coalitions; and CFO of the International Business.
Gordon Brothers is most commonly known for its work helping companies through bankruptcy, handling things like restructuring, financing and asset liquidation. But recently, a lesser-known division of Gordon Brothers found itself in the spotlight when the company sold the iconic British brand Laura Ashley to brand management firm Marquee.
Linnartz was appointed President of Marriott in 2021 and currently is leading the hospitality brand’s multi-billion dollar technology transformation, designed to improve customer experience, drive topline revenue and increase operational efficiency. Early in her career, Linnartz worked with Hilton Worldwide. ”
The exclusive period was set to allow Franchise Group and its financing partners to finalize their due diligence and financing arrangements before the parties enter into a binding agreement. Backing for the deal reportedly came from investment firm Vintage Capital Management LLC, which has a 12.3%
CFO Scott Roe, with 30 years of retail finance and operations experience under his belt, will take on the COO role in addition to his current responsibilities, effective immediately. Since Scott joined Tapestry in June 2021, he has been a great partner to me and has a unique and unparalleled understanding of multi-brand companies.”.
From 2013 to 2021, Creedon worked with Advance Auto Parts , most recently as the company’s EVP of U.S. Prior to his EVP appointment in March 2021, Creedon served as the President of U.S. Dollar Tree President and CEO Mike Witynski had served as interim COO following O’Boyle’s departure.
Rite Aid has rejected a non-binding off-market proposal from Spear Point Capital Management to acquire the company for $3.6 Rite Aid’s concerns included that the Spear Point proposal provided no evidence of financing, required multiple months of exclusivity and then called for Rite Aid to spend months soliciting competing offers.
Long-time Zappos.com executive Scott Schaefer, who has been serving as the retailer’s acting CEO since December 2021, now has the job on a permanent basis. Prior to serving as the company’s acting CEO Schaefer was Zappos’ VP of Finance. His career with Zappos began 14 years ago as the company’s treasury analyst.
He replaces Fred Hand , who joined the company in May 2021. The investment was coupled with an additional $3 million in convertible debt financing from Tuesday Morning executives, including Hand, to support the company’s omnichannel turnaround and avoid bankruptcy for a second time since 2020. Berger to lead the company as CEO.
Sodipo most recently led Product Finance and Strategy at Stripe and will bring her expertise in payments to Glossier’s Accounting and Finance teams. She has been with Cole Haan for the past nine years, including when it was part of Nike , in a combination of strategy, general management, ecommerce and retail leadership roles.
Clarke joins AEO from PVH Corporation where she served as Global Chief Supply Chain Officer from 2021. In her new role as EVP and Chief Supply Chain Officer at AEO, Clarke will be responsible for managing AEO’s global supply chain from sourcing through distribution. Before joining PVH, Sarah held various leadership roles at Gap Inc.
million bridge loan and a financing commitment of $55 million from tech services company A s urion. Johnson had hoped to expand into new categories and markets, but the tides quickly turned after the company went public via SPAC in October 2021. The ultimate plan is to sell to the highest bidder. as of July 1, 2022.
The news follows on the launch earlier in August 2021 of the myWalgreens credit card program, which rewards wellness choices. Newly appointed SVP and CFO Gruener will lead the finance organization for Walgreens.
Macy’s had eliminated the COO position, it turns out temporarily, in March 2021. Mitchell will lead the stores, technology and supply chain teams in addition to his current real estate and finance responsibilities. Gennette will work with both Spring and Mitchell until his retirement to ensure a smooth transition.
Patrick Lewis, the great-grandson of John Spedan Lewis, founder of the department store chain, has joined Oak Furnitureland as its new finance boss. He spent over 26 years at the retail giant in various senior leadership roles, including three years as managing director of partnership services and four years as supply chain director.
It will integrate directly with Square’s solution ecosystem, empowering sellers to organize their finances and manage cash flow from the same platform they use to run their business. The new Square-specific Amex credit card, which will be powered by i2c Inc. and issued by Celtic Bank, will be the first credit card Square offers to U.S.
Determining the right mix of financing options comes down to having a deep understanding of your customer and your product set. Nearly half (46%) of consumers surveyed said they are more likely to purchase from retailers who offer a variety of financing options. by Mike Rittler. by Mike Rittler. The Federal Reserve and the U.S.
The risks of climate change took center stage during 2021, as UN scientists linked global warming directly to human activities. With global attention focused on mitigation, adaptation and resilience, how are retailers managing related risks and considering possible business opportunities? Ingalls holds a B.S.
The pandemic has brought about long-term changes for both business operations and consumer expectations, and 2021 taught us how far removed we are from ever returning to the old “normal.” Supply chain disruptions moved front and center for retailers in 2021, creating vulnerabilities for large and small business owners alike.
Daniel Grieder has stepped down from his post as CEO of Tommy Hilfiger Global & PVH Europe to take on the CEO role at Hugo Boss AG beginning June 1, 2021. Until Grieder begins his tenure, CFO Yves Müller will serve as the Hugo Boss Managing Board’s spokesman. Grieder will be succeeding Mark Langer, who is leaving Hugo Boss on Sept.
Tailored Brands emerged from Chapter 11 bankruptcy in late 2020, and in March 2021 the company sought and received $75 million in emergency financing to avoid a second bankruptcy. Prior to Nike, Gray spent 14 years at Gap.
Buy now, pay later is short-term financing that allows people to buy everyday items like home goods, electronics and clothes in low to no interest monthly installments — and receive the goods immediately. The global market for BNPL services was $125 billion in 2021 and is expected to reach $3.2 Delayed gratification predicts nothing.
14, Levi’s responded via email to an inquiry from Yahoo Finance , highlighting the fact that Sey had resigned and announcing that Seth Ellison, the company’s EVP and Chief Commercial Office, would be assuming the role of Brand President on an interim basis until a replacement was found: “LS&Co.
Ireland’s pro-business environment and great access to talent make it an excellent hub for companies, including SHEIN, to manage and grow our business in the region,” said Leonard Lin, Global Head of Government Relations for SHEIN in a statement. The new Dublin office will serve as the company’s strategic IT hub for the region.
Fashion businesses produce and manage vast amounts of complex information across their supply chains. If data is difficult to access or poorly managed, it becomes virtually impossible for a brand to maximize its value. Risk management. Compliance.
By the second half of 2021, Walgreens will launch credit cards, issued by Synchrony, as well as a prepaid debit card, both of which will be powered by the Mastercard network. They will have access to contactless shopping experiences and mobile-first money management features as well as the opportunity to earn accelerated rewards.
US-based retailer Showfields, the self-described “most interesting store in the world”, filed for bankruptcy this month and will be restructuring through a form of Chapter 11 bankruptcy created during Covid to help small businesses continue operations, reorganise, and maintain control of finances without creditors taking over.
McKinsey calls this embedded finance — when a financial product or solution is placed in a non-financial setting, for example on a social media platform or in a store (private label credit cards are one old-school example). Embedded finance has become big business: McKinsey estimated that the sector reached $20 billion in revenue in the U.S.
In fact, the growth of BNPL is hitting record-breaking levels — in 2021 Cornerstone Advisors say that consumers will make nearly $100 billion in retail purchases using BNPL. In fact, Cornerstone Advisors found that Gen Z consumers using BNPL grew from 6% in 2019 to 36% in 2021, and millennials’ use of BNPL is up to 41%.
The new round of financing was led by existing Instacart investors including Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Company and T. Online grocery platform Instacart has raised $265 million in new funding, increasing its valuation to $39 billion. Rowe Price Associates.
In 2021 we will double down on our enterprise capabilities, particularly our customer success teams, to help even more large businesses like Twilio or Zapier significantly increase their revenue,” said Mike Clayville, Chief Revenue Officer at Stripe in a statement. The company has raised $2.4
market where it remains well below the peak it hit a few years ago”, said Neil Saunders, managing director of market research firm GlobalData. In 2021, the chain launched a menu overhaul and splashy marketing campaign as it embarked on a turnaround plan that has helped sales grow. billion appeared first on Inside Retail.
Significantly, it has also been linked to the financing of terrorist activities, offering a lucrative and relatively low-risk source of funds. In the case of Apple, hundreds of imitation iPhones, all with apparently legitimate serial numbers, managed to evade US Apple store staff, costing the company more than $6 million. In 2021, U.S.
The world’s largest jewellery brand Pandora is placing sustainability at the cornerstone of its ‘Phoenix’ growth strategy and even tying bonuses for top management to environmental targets to incentivise progress. Sustainability was embedded in every part of the brand’s Phoenix growth strategy, from financing to the entire supply chain. “We
Micro markets often come with management software that can help airport employees in the food and beverage industry increase productivity and optimize operations. Features such as inventory management and the ability to track sales allow operators to keep track of which items sell better than others.
Hobart brings more than 25 years of finance, consumer and retail experience to the role. We have the best management team in the company’s history, and the investments we have made in our people, our stores, and our communities are paying off. She joined DICK’s in 2011 as Chief Marketing Officer and was named President in 2017.
million Series A financing round led by Left Lane Capital, with additional support from RiverPark Ventures, All Iron Ventures and Red Antler, the branding company behind Allbirds , Casper and Prose. My family has been in independent retail for the last 20 years,” said Harley Miller, Managing Partner at Left Lane Capital in a statement.
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