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Digital initiatives cause for optimism at Vantiv
A unique perspective into the holiday season was provided by leading payments processor Vantiv when the company reported strong third quarter results but expressed reservations about the volume of activity during the fourth quarter.
The company said its third quarter revenues increase 14% to $532 million and net income on an adjusted basis increase 17% to $80 million compared to $68.1 million while adjusted earnings per share increased 25% to 40 cents from 32 cents.
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Walmart redefines meaning of growth in China
Less than two weeks after announcing plans to reduce overall international capital expenditures, top Walmart executives were telling a different story in China this week.
At a press event in Beijing, Walmart CEO Mike Duke and Walmart China CEO Greg Foran said the company planned to opening as many as 110 new facilities during the next three years including stores in China’s smaller cities while also closing up to 9% of its 397 units and remodeling 165 stores.