Finance & Capital Management

Arlington, Va. -- A report says that only one in five debit and credit cards are ready for the EMV shift.

As retailers spend billions to upgrade their point of sale terminals to accept new chip cards before the Oct. 1 liability shift deadline, the nation’s largest card network acknowledged that a staggering number of magnetic “swipe” cards have not been replaced with new cards.

Lynnwood, Wash. -- It was tough going for Zumiez Inc. in the second quarter as its profit fell 57% amid increased promotional activity.

The skate and surf apparel retailer reported net income of $3.2 million in the quarter, compared to net income of $7.5 million in the year-ago period. The results included include costs of approximately $0.4 million, for charges associated with the acquisition of Blue Tomato.

Total net sales for the quarter increased 1.8% to $179.8 million, from $176.7 million a year ago.

Whole Foods Market is encountering a peculiar wave of opposition as it looks to expand growth opportunities in a new target market in California.

A petition is circulating in the Silver Lake area of Los Angeles area to get Whole Foods Market's planned "365" value format converted into a traditional Whole Foods Market store.

Kroger on Thursday announced the appointment of four EVPs to lead key lines of business.  

Conn’s is selling off much of its consumer debt and appointing a new CEO as the specialty retailer looks reposition its business.

In a series of strategic moves designed to shore up its ailing consumer finance business and restore investor confidence, Conn’s has named Norman Miller as its new CEO, entered into an agreement to securitize $1.4 billion of retail installment contract receivables, and received board authorization to repurchase up to $75 million of securities, and termination of the stockholders’ rights plan.

A week after suing Albertsons for $1 billion, west coast regional grocer Haggen has filed Chapter 11 and continues to cite Albertsons as the source of its difficulties.

Anaheim, Calif. – Pacific Sunwear of California Inc. is launching a major expense reduction initiative in the wake of disappointing second quarter results.

Houston – Rising expenses resulted in falling profits at Francesca’s Holdings Corp., which plans to slow its store expansion going forward.

Francesca’s net income fell 10% to $9.3 million in the second quarter, from $10.3 million the prior year period.

Rising boutique and payroll expenses related to new store openings were the primary factor in decreasing Francesca’s profits. However, new store openings also helped drive a 9% increase in net sales, to $106.03 million from $97.02 million.