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Financial/Banking

  • Home improvement giant taps veteran as finance chief

    Lowe's Companies has promoted a 20-year company veteran to CFO.   The retailer announced that Marshall A. Croom will succeed Robert F. (Bob) Hull Jr. as chief financial officer, effective March 3. Hull plans to retire after 17 years with the company.   

  • Specialty apparel retailer files Chapter 11

    Limited Stores has taken another step in the liquidation process it started in December.   The women’s apparel retailer announced on Tuesday it has filed for Chapter 11 bankruptcy protection. The chain also said it agreed to a "stalking horse" bid for its intellectual property and some related assets from an affiliate of private equity firm Sycamore Partners.     

  • New credit card rewards Prime members

    Amazon has a new perk for its Prime members.   Through its partnership with Chase, Amazon is introducing the new Amazon Prime Rewards Visa Signature Card. Available exclusively to Amazon Prime members, the card offers users 5% back on all Amazon.com purchases, and rewards members for other purchases, including 2% back at restaurants, gas stations and drug stores, and 1% back on every other purchase.  

  • New partnership expands digital payments

    A new partnership is giving Discover card users more flexibility and security at point-of-sale.   An agreement between Discover Financial Services (DFS) and PayPal allows U.S.-based PayPal customers to use Discover at all contactless-enabled merchants that accept the card. Discover cards will be presented as a payment option within the PayPal wallet, making accounts easily identifiable to card members when paying.  

  • NRF wants free speech for merchants on credit card fees

    The National Retail Federation on Tuesday called on the U.S. Supreme Court to allow merchants to freely and accurately show customers the added costs that come with paying by credit card rather than cash.  

  • Proposed Republican tax reforms would hit these retailers the hardest

    Apparel retailers might be in for tough going if proposed tax reforms pass.  

  • Report: Walmart Canada settles dispute with Visa

    A six-month battle between Walmart Canada and Visa has come to an end.   The retailer, which threatened to ban the card processor from all of its stores nationwide due to “unacceptably high” credit-card transaction fees, has ended its feud, and will resume accepting Visa cards at its more than 400 stores starting Friday, Jan. 6.  

  • Neiman Marcus scraps IPO

    Neiman Marcus Group is not going public anytime soon.    In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.     
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