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Financial/Banking

  • NRF: Swipe fee reform saving up to $18 million per day

    WASHINGTON — The National Retail Federation estimates that U.S. retailers and their customers are benefiting from savings of up to $18 million every day since the implementation of the debit card swipe fee reform.

  • Consumer Electronics Association sees boost in technology confidence

    ARLINGTON, Va. — Consumers are growing more confident in technology and plan on spending more in this area, according to the latest CEA Index released today by the Consumer Electronics Association. The CEA Index also showed that consumer confidence in the overall economy improved this month.

  • Wet Seal urges shareholders not to support activist’s plans to replace directors

    Foothill Ranch, Calif. -- On the heels of activist investor The Clinton Group’s announced plans to replace some of Wet Seal’s board members, the retailer is advising its shareholders against supporting the move.

  • Fairway Market files plans to take company public

  • Summer Infant retains investor relations firm

    WOONSOCKET, R.I. — Summer Infant, a juvenile products manufacturer, today has retained Sharon Merrill (www.InvestorRelations.com), a nationally recognized investor relations and corporate communications firm based in Boston, to provide strategic investor relations services.

  • Landmark NYC gourmet market to be auctioned

    New York -- IPG Real Estate said Monday that Amish Market, a landmark Manhattan gourmet market located in the Midtown neighborhood of TriBeCa, is being offered for sale in hopes of an offer prior to an auction slated for November 2012.

    The supermarket/deli features 7,500 sq. ft., including 1,000 sq. ft. of mezzanine, supported by 2,000 sq. ft. of basement space. An initial review by a court-appointed Chapter 11 trustee verified $8.2 million in sales from a September 2011 to an August 2012 time period.
     

  • Report: Activist investor group seeks to replace majority of Wet Seal board

    New York -- Wet Seal Inc. sent a letter to its shareholders saying activist investor Clinton Group is looking to replace most of the retailer's board with its own nominees, Reuters reported.

    Wet Seal urged its shareholders to reject Clinton's five-member slate, according to a filing with regulators on Sept. 24, the report said.

  • Rite Aid narrows loss in Q2

    Camp Hill, Pa. -- Rite Aid Corp. reported Thursday a loss of $41.4 million in the second quarter, significantly narrowed from a $94.7 million loss in the year-ago period.

    Revenue slipped to $6.23 billion from $6.27 billion last year, missing Wall Street’s projected $6.25 billion in sales. Same-store sales were essentially flat for the quarter.

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