Content about Money

April 16, 2014

The National Retail Federation on Wednesday told a congressional panel that the retail industry is committed to safeguarding and protecting consumer data and information from cybercriminals and hackers.

WASHINGTON — The National Retail Federation on Wednesday told a congressional panel that the retail industry is committed to safeguarding and protecting consumer data and information from cybercriminals and hackers.

NRF VP for retail technologies, Tom Litchford, testified before a field hearing of the House Homeland Security Subcommittee on Cybersecurity, Infrastructure Protection and Security Technologies, where he outlined specific steps that the nation’s retailers are pursuing and implementing to identify, prevent and combat cyberattacks.

March 12, 2014

The National Retail Federation is urging Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes, telling a House committee that lawmakers should level the playing field between local retailers and out-of-state competitors.

WASHINGTON — The National Retail Federation is urging Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes, telling a House committee that lawmakers should level the playing field between local retailers and out-of-state competitors. David French, SVP of the NRF, told the House Judiciary Committee in a letter that legislation is needed to end the sales tax disparity.

February 26, 2014

Dollar Tree on Wednesday posted sales of $2.2 billion for the fourth quarter ended Feb. 1, down slightly by 0.9%.

CHESAPEAKE, Va. — Dollar Tree on Wednesday posted sales of $2.2 billion for the fourth quarter ended Feb. 1, down slightly by 0.9%. However, fourth quarter 2012 included 13 weeks as compared to the 12-week period for fiscal 2013. 

For fiscal year 2013, the company's consolidated net sales were $7.8 billion, up 6.1%. Comparable store sales increased 2.4%. Fiscal 2012 included 53 weeks, as compared with 52 weeks in fiscal 2013.

Comparable store sales increased 1.2%. 

January 31, 2014

Fifty-seven percent of consumers purchased digital gift cards in December 2013, and 43% purchased physical cards. Data from prepaid product and transaction services company InComm also shows that 80% of consumers purchased digital cards in the six days leading up to Christmas, and 20% of consumers purchased physical cards in the six days leading up to Christmas.

PORTLAND, Ore. — Fifty-seven percent of consumers purchased digital gift cards in December 2013, and 43% purchased physical cards. Data from prepaid product and transaction services company InComm also shows that 80% of consumers purchased digital cards in the six days leading up to Christmas, and 20% of consumers purchased physical cards in the six days leading up to Christmas.

December 23, 2013

The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

MINNEAPOLIS — The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

In a statement on the mass-merchandise retailer's website, president, chairman and CEO Gregg Steinhafel sought to ameliorate customers' worries about the possibility that their cards were compromised. He emphasized that the issue had been "identified and eliminated," while the retailer extended a 10% discount to customers who shopped at its stores on Saturday and Sunday.

December 19, 2013

About 40 million credit and debit card accounts of Target customers were compromised between late November and the middle of this month, the mass merchandise retailer said Thursday.

MINNEAPOLIS — About 40 million credit and debit card accounts of Target customers were compromised between late November and the middle of this month, the mass merchandise retailer said Thursday.

Target confirmed earlier reports from the online security blog Krebs on Security that the company experienced a breach affecting nearly all of its stores. The breach was initially thought to have started the day before Thanksgiving and ended on Dec. 6, but investigators later found that it had lasted until Sunday.

December 2, 2013

Dollar General before the Thanksgiving holiday refuted a recent U.S. PIRG Education Fund study — Trouble in Toyland 2013 — which suggested a toy jewelry ring set that tested twice the legal limit for lead was sold at Dollar General stores.

GOODLETTSVILLE, Tenn. — Dollar General before the Thanksgiving holiday refuted a recent U.S. PIRG Education Fund study — Trouble in Toyland 2013 — which suggested a toy jewelry ring set that tested twice the legal limit for lead was sold at Dollar General stores. 

"This product is not currently, nor has ever been, sold in Dollar General stores," the dollar store operator said. 

November 20, 2013

The electronic currency known as bitcoin allows small- and medium-sized companies to reach more customers by opening new markets that were previously unreachable, the co-founder of a company that allows businesses to use bitcoins said in testimony Tuesday before two Senate subcommittees. And it appears that federal authorities are open to its development.

WASHINGTON — The electronic currency known as bitcoin allows small- and medium-sized companies to reach more customers by opening new markets that were previously unreachable, the co-founder of a company that allows businesses to use bitcoins said in testimony Tuesday before two Senate subcommittees. And it appears that federal authorities are open to its development.

November 4, 2013

Dollar General on Monday announced a number of senior management changes.

GOODLETTSVILLE, Tenn. — Dollar General on Monday announced a number of senior management changes. Todd Vasos has been named COO with responsibility for store operations, merchandising and supply chain. And David D'Arezzo has joined the company as EVP and chief merchandising officer. 

October 25, 2013

For the second year in a row, Dollar General has topped Kantar Retail’s opening price point survey, narrowly beating out Walmart.

BOSTON — For the second year in a row, Dollar General has topped Kantar Retail’s opening price point survey, narrowly beating out Walmart. 

October 18, 2013

Family Dollar earlier this week celebrated the grand opening of its 11th distribution center in St. George, Utah.

ST. GEORGE, Utah — Family Dollar earlier this week celebrated the grand opening of its 11th distribution center in St. George, Utah. 

“Opening our 11th distribution center is an important milestone for us,” stated Howard Levine, Family Dollar’s chairman and CEO. “This facility is ideally located to support our growth in the West, helping us keep our stores well-stocked as we continue to provide customers in this region with great value and convenience.”

October 14, 2013

Dutch supermarket operator Royal Ahold has bought back more than a quarter of the shares it intends to as part of a share-repurchase program announced earlier this year.

ZAANDAM, Netherlands — Dutch supermarket operator Royal Ahold has bought back more than a quarter of the shares it intends to as part of a share-repurchase program announced earlier this year.

The company said Monday that it had bought back 2.23 million for $38.8 million. The purchases are part of the $678 million buyback program announced in February and increased by $2.03 billion in June.

The total amount repurchased so far is 42.8 million shares, for a total price of $711.9 million.

October 7, 2013

Walgreens on Monday announced Balance Financial, a full suite of integrated financial services that will be launching in phases over the coming months, all built around its new Balance Financial Prepaid MasterCard.

DEERFIELD, Ill. — Walgreens on Monday announced Balance Financial, a full suite of integrated financial services that will be launching in phases over the coming months, all built around its new Balance Financial Prepaid MasterCard.

September 10, 2013

Members of Kmart's loyalty card program can use low-cost check cashing services at stores, the retail chain said.

HOFFMAN ESTATES, Ill. — Members of Kmart's loyalty card program can use low-cost check cashing services at stores, the chain said Tuesday.

August 19, 2013

Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

CARPINTERIA, Calif. — Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

August 7, 2013

CVS/pharmacy is gearing up for back-to-school season with a new "Classroom Gift Card" promotion that allows customers to earn gift cards when shopping for essentials at more than 7,500 locations nationwide.

Running from Aug. 11 to 31, members of the ExtraCare program will receive a $5 CVS/pharmacy gift card after spending $20 on select items featured in the weekly circular.

WOONSOCKET, R.I. — CVS/pharmacy is gearing up for back-to-school season with a new "Classroom Gift Card" promotion that allows customers to earn gift cards when shopping for essentials at more than 7,500 locations nationwide.

Running from Aug. 11 to 31, members of the ExtraCare program will receive a $5 CVS/pharmacy gift card after spending $20 on select items featured in the weekly circular.

July 12, 2013

A developer of revenue and payment cycle management and clinical information exchange software is expanding its payment network.

NASHVILLE, Tenn. — A developer of revenue and payment cycle management and clinical information exchange software is expanding its payment network.

Emdeon announced Friday that it would expand the capabilities of the Emdeon Payment Network, a large, automated payment distribution system for the healthcare industry. The expansion includes the recent opening of a new 100,000-sq.-ft. facility in St. Louis dedicated to supporting the network, which currently reaches about 60,000 pharmacies, 500,000 providers, 81,000 dentists, 1,200 hospitals and 300 labs.

June 4, 2013

Dollar General increased net sales by 8.5% to $4.2 billion for its first quarter ended May 3, the dollar operator reported Tuesday.

GOODLETTSVILLE, Tenn. — Dollar General increased net sales by 8.5% to $4.2 billion for its first quarter ended May 3, the dollar operator reported Tuesday. 

“For the quarter, we achieved same-store sales growth of 2.6%, reflecting strong growth in our consumables categories offset by softer sales in seasonal and weather-sensitive categories,” stated Rick Dreiling, Dollar General’s chairman and CEO. “We believe the continued strength in consumables is a sign of the underlying health of our business.”

May 14, 2013

Dollar General is sponsoring career fairs at 170 of its stores as part of an effort to hire 10,000 new employees this month, the company said Tuesday.

GOODLETTSVILLE, Tenn. — Dollar General is sponsoring career fairs at 170 of its stores as part of an effort to hire 10,000 new employees this month, the company said Tuesday.

The company said it would have representatives to discuss opportunities, receive resumes and talk about long-term opportunities.

February 12, 2013

A mere 2% increase in the payroll tax could represent $800 in reduced spending power per year for a person with a household income of $40,000, according to a new study by SymphonyIRI.

CHICAGO — A mere 2% increase in the payroll tax could represent $800 in reduced spending power per year for a person with a household income of $40,000, according to a new study by SymphonyIRI.

Symphony Consulting, a division of the Chicago-based market research firm, analyzed shopper behavior since the payroll tax increased on Jan. 1, focusing on the effect of the payroll tax on food and beverage consumption, including its effect on such dimensions as stores shopped, brands purchased and the effect on various segments and categories.

January 4, 2013

Family Dollar stores reported a 12.7% increase in net sales and a 6.6% increase in comps in first quarter 2013, the company said.

MATTHEWS, N.C. — Family Dollar stores reported a 12.7% increase in net sales and a 6.6% increase in comps in first quarter 2013, the company said.

November 21, 2012

Dollar General, for the seventh consecutive year, is partnering with St. Judes Children's Research Hospital for their Thanks and Giving campaign and the U.S. Marine Corps Toys for Tots Foundation.

Dollar General, for the seventh consecutive year, is partnering with St. Judes Children's Research Hospital for their Thanks and Giving® campaign and the U.S. Marine Corps Toys for Tots Foundation. Customers who shop with Dollar General now through Dec. 16 can participate by donating $1 or more when they check-out.

October 15, 2012

More than half of consumers say they plan to spend $500 or more on gifts this holiday season, slightly more than what they planned on spending in 2011, according to PriceGrabber’s winter holiday shopping survey.

LOS ANGELES, Calif. — More than half of consumers say they plan to spend $500 or more on gifts this holiday season, slightly more than what they planned on spending in 2011, according to PriceGrabber’s winter holiday shopping survey.

The survey of online shopping consumers, conducted from Aug. 31 to Sept. 12, revealed that 75% planned to shop with online retailers, 74% said they’d shop at discount stores and 49% planned to shop at traditional department stores.

October 2, 2012

Coinstar announced that customers utilizing its service at Stop & Shop stores now have the option of placing the full value of their coins, without fees, onto a Stop & Shop gift card.

PURCHASE, N.Y., and QUINCY, Mass. — Coinstar announced that customers utilizing its service at Stop & Shop stores now have the option of placing the full value of their coins, without fees, onto a Stop & Shop gift card.

In addition, customers also have the option to select a gift card from a variety of national retailers and e-retailers. The gift cards are immediately activated and can be used the same day.

September 19, 2012

Giant Food announced that customers who utilize Coinstar kiosks at its stores now have the option of placing the full value of their coins on to a no-fee Giant Food gift card.

LANDOVER, Md. — Giant Food announced that customers who utilize Coinstar kiosks at its stores now have the option of placing the full value of their coins on to a no-fee Giant Food gift card.

The gift cards are immediately activated and can be used the same day, Giant Food said. In addition to the Giant Food gift card option, customers also have the opportunity to select a gift card from a variety of national retailers and e-retailers.