News

Foothill Ranch, Calif. -- Wet Seal Chairperson Lynda Davey is resigning from her post, effective Oct. 1. The announcement of her resignation comes on the heels of the departure of the troubled teen retailer’s CEO. Davey will be replaced by Adam Rothstein.

Ventura, Calif. – Outdoor apparel retailer Patagonia has been awarded the Supply Chain Innovation Award from supply chain management technology provider GT Nexus for continued efforts in creating a responsible supply chain. The Supply Chain Innovation Award recognizes Patagonia's commitment to partnering with its suppliers as it improves supply chain processes.

Naples, Fla. -- ACI Worldwide, a leading global provider of electronic payment and banking solutions, announced that Auchan Group, one of the world’s largest food retailers, has selected the company to deliver its new SEPA-compliant European card payments platform, the first of its kind in Europe.

Sterling, Va. - Neustar Inc, a provider of real-time information services and analytics, is releasing AK Media Insights Pro, a service that gives brands and agencies the ability to model and analyze their own media and audience data to uncover campaign insights that go beyond standard reports and dashboards.

Nashville, Tenn. - Asurion Retail Solutions has rolled out Solution Hub, an online platform providing consumers transparency and control of the post-purchase service experience. Solution Hub, customizable to reflect retail brands, offers consumers an end-to-end solution for filing claims, scheduling in-home repairs, and choosing the best fulfillment option for certain product categories.

By Chris Stoneff, Lieberman Software

My experience in cyber security tells me that the retail sector probably represents the most fertile ground for cyber criminals. That's because professional hackers understand that retail has never focused on IT security to the extent seen in other industries (like banks or payment processors) that handle customer payment card data.

New York -- Amazon said that senior VP and CFO Thomas J. Szkutak plans to retire in June 2015. Brian T. Olsavsky, VP finance for Amazon’s global consumer business, will succeed Szkutak. Szkutak and Olsavsky will work together during the next 10 months as part of the transition.

Szkutak joined Amazon in 2002 as CFO, and oversees the controller, treasury, investor relations, tax, internal audit and facilities functions as well as financial management of the company’s business units.

New Albany, Ohio – Abercrombie & Fitch has reportedly settled a shareholder lawsuit filed in the U.S. District Court of Columbus, Ohio, regarding its pay of CEO Michael Jeffries, who has received more than $140 million in compensation since 2007. According to Reuters, the settlement with City of Plantation Police Officers' Employees' Retirement System involves no payment to the plaintiff.

Menomonee Falls, Wis. - Kohl’s Department Stores and multiplatform media company AwesomenessTV have launched a partnership to launch S.o. R.a.d., a seven capsule limited-edition junior’s fashion line and “Life’s S.o. R.a.d.,” an original four-season YouTube series featuring top teen influencers. The first S.o. R.a.d. junior’s capsule will launch at Kohl’s and Kohls.com on Sept. 22.

Clearwater, Fla. - MarineMax Inc. has expanded its financing facility to provide for borrowings of up to $235 million. The expanded facility has a three-year term, expiring in August 2017, and it has two, one-year options to renew, subject to lender approval.