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DSW awarded $7.2 million for credit card breach
Columbus, Ohio -- DSW Inc. said Thursday that it has been awarded $7.2 million as a result of litigation with its insurance carrier stemming from its credit card data breach in 2005.
The $7.2 million award represents damages plus accrued interest.
In other news, DSW has declared a special dividend totaling $91 million to be paid on Oct. 26 to shareholders. According to president and CEO Mike MacDonald, the special distribution, which is in addition to the regular dividend, represents “significant cash flow generation.”
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Overcoming Showroom Syndrome
By William Dudley, [email protected]
We, as a consumer society, are increasingly becoming “mail-order,” or more precisely, online patrons. Companies such as Amazon, Ebay, Overstock.com, and other specialty retailers are putting increased pressure on traditional brick and mortar shops by offering customers mobile-friendly apps and browsers, adding convenience to their shopping experience.