Corporate Governance

Both the volume of and monetary losses caused by fraudulent transactions have sharply increased in the past year.

According to the “2016 True Cost of Fraud Report” from LexisNexis Risk Solutions, the monthly average of fraudulent transactions has increased 32% to 206 from 156 in 2015. In addition, the monthly average of prevented fraudulent transactions has risen 33% to 236 from 177.

It was probably inevitable that somebody at some point would challenge the legality of the Oct. 1, 2015 EMV (Europay, Mastercard and Visa) liability shift.

Starbucks founder and CEO Howard Schultz recently touched down at Target Corp. headquarters in Minneapolis as part of Target’s series of “innovation speakers.” “With Starbucks, I dreamed of building a national brand and different kind of company, achieving balance between profit and conscience, bringing people along on the journey, and impacting the communities we serve,” Schultz said. “The kind of company my parents never got the chance to work for.

Gap Inc. has named a longtime member of its executive team to head up its Old Navy brand.

The retailer appointed Sonia Syngal as global president of Old Navy, effective immediately, as it looks to reenergize its value-driven brand. She succeeds Stefan Larsson, who left last year to become CEO of Ralph Lauren Corp.

Syngal, a 12-year Gap veteran, most recently served as executive VP of global supply chain and product operations for Gap Inc.

Both the volume of and monetary losses caused by fraudulent transactions have sharply increased in the past year.   According to the “2016 True Cost of Fraud Report” from LexisNexis Risk Solutions, the monthly average of fraudulent transactions has increased 32% to 206 from 156 in 2015. In addition, the monthly average of prevented fraudulent transactions has risen 33% to 236 from 177.  

A controversial labor practice employed by some retailers is coming under increased scrutiny by U.S. regulators.

Pier 1 shrank its store base and e-commerce penetration reached record levels during the company’s fourth quarter, a period in which profitability was marred by promotions, markdowns and supply chain issues.