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Financial/Banking

  • Regency redevelops South Florida center

    Regency Centers has demolished most of its Aventura Shopping Center in the South Florida town of the same name, and is underway with a near-total redevelopment.   The Publix grocery anchor at the center south of Hollywood is the only structure that remains, though the 35,500-sq.-ft. space will be expanded to 49,000 sq. ft. with parking below the store.   

  • South African-based retail giant enters U.S. with $3.8 billion acquisition

    A company relatively unknown outside its home base has entered the U.S. retail market in a deal to acquire Mattress Firm Holding Corp., the largest mattress retailer in the United States.   

  • Dollar Tree cutting jobs as part of corporate restructuring

    Dollar Tree will eliminate some 370 positions as part of a corporate restructuring related to its acquisition of Family Dollar last year.   The cuts, which include 100 vacant positions at its Family Dollar store support center in Matthews, North Carolina, are part of the chain’s ongoing efforts to integrate its support functions through a shared services model.  

  • Study: Five trends impacting retail sales

    Instant delivery. Athleisure wear. Rented and used clothing.    These are among the five trends identified by consumer financial services company Synchrony Financial as impacting both the retail and mobile payments space.   Here’s a review of what Synchrony says consumers are especially interested in:  

  • HSN taps moves c-suite exec to anchor Cornerstone division

    HSN’s CFO and COO is taking a new job, but she won’t have to travel far.   Judy Schmeling has assumed the helm of the Cornerstone Brands division of HSN, which consists of home and apparel banners such as Frontgate, Garnet Hill, Grandin Road and TravelSmith.    Schmeling, who will continue to report to HSN CEO Mindy Grossman, will maintain her COO position at HSN, and she will remain CFO until a successor is appointed.  

  • Sprouts Farmers beats Q2 profit forecasts

    Sprouts Farmers Market Inc. reported second-quarter net income of $37.2 million, which topped Wall Street expectations.    The natural and organic food retailer posted revenue of $1.03 billion in the period, narrowly missing Street forecasts of $1.04 billion, but topping last year’s sales by 14%.   Same-store sales grew 4.1% in the period.

  • HSN moves c-suite exec to anchor Cornerstone division

    HSN’s CFO and COO is taking a new job, but she won’t have to travel far.   Judy Schmeling has assumed the helm of the Cornerstone Brands division of HSN, which consists of home and apparel banners such as Frontgate, Garnet Hill, Grandin Road and TravelSmith.    Schmeling, who will continue to report to HSN CEO Mindy Grossman, will maintain her COO position at HSN, and she will remain CFO until a successor is appointed.  

  • Mastercard: Chip cards cut fraud by 60%

    Credit card fraud is down by more than 60% at Mastercard’s top five EMV-enabled merchants since chip cards were introduced late last year, according to the company.   “Mastercard has helped over 150 countries adopt EMV and, time and again, we’ve seen the same result — significant reductions in counterfeit card fraud,” said Chiro Aikat, Mastercard’s senior VP of EMV product delivery.  
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