Financial/Banking

Costco shareholders are a happy lot these days between the company’s surging share price, huge special dividends and now another substantial increase in the company’s regular quarterly payout.

Late Friday, with shareholders already sitting on a 30% increase in the stock price during the past year, the company gave them another reason to smile by hiking its dividend 12.3% to 40 cents a share, or $1.60 on an annual basis, from the current quarterly dividend of 35.5 cents, or $1.42.

New York -- Simply Fashion Stores Ltd. has filed for Chapter 11 bankruptcy protection, and announced plans to liquidate nearly all of its assets. In its filing, it noted that the “exact plan” for the future of the company is still being refined.

The Birmingham, Alabama-based urban fashion retailer, which caters mostly to African-American women, operates some 250 stores in 25 states.

Sam’s Club has strengthened the value proposition of its membership offering with a new range of high value services designed to differentiate it from Costco while fending off competition from well-capitalized online startup Jet.com.

Cupertino, Calif. – Apple Inc. reportedly may launch its Apple Pay mobile payment service in Canada as soon as fall 2015. According to the Wall Street Journal, Apple is in negotiations with the six largest Canadian banks to roll out Apple Pay north of the border in November 2015.

San Jose, Calif. – Nothing is more personal than the inside of your body, and that is where PayPal reportedly envisions the next frontier of biometric user authentication. According to the Wall Street Journal, PayPal is investigating the feasibility of embeddable, injectable, and ingestible devices to identify users for mobile and online transactions.

Los Angeles -- Frederick's of Hollywood Group filed Chapter 11 after earlier closing all of its 94 remailing stores and entering into an agreement to sell its online business, inventory and intellectual property to Authentic Brands Group LLC for a reported $22.5 million.

Founded in 1947, the privately held retailer of sexy lingerie cited competition (it faced an especially formidable rival in Victoria’s Secret), decreased mall traffic and leases in its filing. It listed $36.5 million in assets and $106 million in debt.

Herndon, Va. - In 2014, ACH (automated clearing house) volume grew to almost 23 billion electronic payments, an increase of almost 5%, or 1 billion transactions, from 2013 volume. According to new statistics released by NACHA — The Electronic Payments Association, a total of more than $40 trillion was transferred via NACHA’s ACH Network in 2014, increasing more than 3% compared to 2013.
 

Shares of Etsy enjoyed a meteoric rise during their first day of trading on April 16, closing at $30 a share after shares in the initial public offering were priced at $16.