Financial/Banking

Menomonee Falls, Wis. -- Kohl’s Corp. reported a 20% decline in 3Q profit, missing Wall Street estimates, as the retailer continues to be challenged by drops in store traffic and weak sales.

 

Beachwood, Ohio -- DDR Corp. announced the sale of an 11-property portfolio--located primarily in the Buffalo MSA that was previously held in joint venture with Kuwaiti Financial Centre II--for a total of $154 million. The portfolio was comprised of small-format traditional grocery-anchored centers and single tenant non-prime assets.  

Los Angeles -- CBRE Group, Inc. has been appointed by Standard Chartered Bank to provide asset management and lease administration services across the bank’s commercial property portfolio.   

Hangzhou, China -- Alibaba Group Holding Ltd. plans to hold its first bond sale of senior unsecured notes. The principal amount, interest rates, maturity dates and other terms of the notes have not been finalized and will be determined at the time of pricing of the offering.    Alibaba plans to use the net proceeds from the offering primarily to refinance its existing credit facilities.   

Tampa Bay, Fla. –- The community of Show Low, Arizona leads all U.S. cities in rates of chargebacks for credit card disputes, with a 2.2% chargeback rate. According to a new study from Chargebacks 911, a division of Global Risk Technologies, the top five cities (including multiple ties) are as follows:   1. 2.2% chargeback rate: Show Low, Arizona 85901

Hangzhou, China -- Alibaba Group Holding Ltd., which previously said it is in discussions with Apple about working with its Apple Pay digital payment service, is now reportedly also open to working with EBay’s PayPal digital payment service.  

Princeton, N.J. -- Heartland Payment Systems, the nation's fifth largest payments processor and a leading provider of merchant business solutions, has acquired leading foodservice industry enterprise-level POS software provider, XPIENT Solutions.  

Austin, Texas -- Gen Y consumers, whose annual spending power is estimated at $200 billion, prefer to shop at retailers that offer financing options, according to a new study.   An eNation study of more than 2,000 consumers, commissioned by financial technology company NewComLink, found that 59% of shoppers between the ages of 18 and 34 say their choice of retailer is impacted by whether that retailer offers financing options.