News

A new fraud pattern is emerging.    For 84% of U.S.-based companies, EMV has lowered their fraud prevention costs. However, 52% of retailers said their card not present (CNP) losses are growing.   This is according to the “2017 Global Payments Insight Survey: Merchants and Retailers,” from ACI Worldwide and Ovum. The study tapped 1,475 payments executives globally in December, 2016 -January, 2017.   

The Home Depot had acquired a company that will it enable it to expand its tool and equipment rental offerings to both professional and do-it-yourself customers.   After years of working with Compact Power Equipment, The Home Depot announced a deal to acquire the equipment rental and maintenance services company for $265 million in cash. The transaction is expected to close by the end of the company's fiscal second quarter.  

Despite plenty of generational differences, there is one thing that shoppers of all ages put a priority on.  

Victoria's Secret is casting a shadow on parent company L Brands.   L Brands said that net sales fell 6% to $1.21 billion for the five weeks ending period ending July 2. Total same-store sales fell 9%, worse than expected, dragged down by a 17% decline at Victoria's Secret. On the positive side, same-store sales rose 8% at Bath & Body Works.  

Premium denim brand True Religion Apparel Inc. has struck a deal to erase $350 million of its debt.    The company announced Wednesday that it has filed for Chapter 11 bankruptcy protection and signed a restructuring agreement with the majority of its lenders, including private equity owner TowerBrook Capital Partners. It listed assets and liabilities in the range of $100 million to $500 million.  

Amazon is once again expanding its distribution fleet — this time in the Beehive State.   The online giant will open an 855,000 sq. ft. fulfillment center in Salt Lake City — the company’s first warehouse in Utah. The facility, which will employ 1,500 full-time hourly associates, will pick, pack, and ship smaller customer items, such as books, electronics and toys.  

Days before Prime Day commences, Amazon is upping the ante once again.   Starting Wednesday, July 5, Alexa shoppers will have access to more than 100 exclusive deals on Amazon Echo, Echo Dot, Echo Show, Amazon Tap, Fire TV or compatible Fire tablets. Voice shoppers will also get first dibs on select Prime Day deals on July 10, between 4 p.m. and 6 p.m. PST — two hours before the general public, according to Amazon.  

Walmart continues to explore new ways to make it easier for customers to pick up goods purchased online.    The discounter is expanding its deployment of a giant self-service kiosk, which it calls a Pickup Tower, that spits out online orders to users of Walmart's buy-online-pickup-in-store service. Walmart debuted the technology last fall, in a store in Bentonville, Ark., close its headquarters.  

Eloquii is making the leap to physical retailing — with more than one location.    The plus-size fashion brand is set to open a store at The Fashion Centre at Pentagon City, Arlington, Va., followed by a location in downtown Chicago, and one at Easton Town Center, in Columbus, Ohio, which will open in September, reported The Columbus Dispatch.   

Technology giants, including a retailer, dominated an annual ranking of the world's most valuable brands.