pymnts Profile:
Target (NYSE: TGT)
Target Corporation is the eighth-largest department store retailer in the United States, and is a component of the S&P 500 Index.
AI Eases Coding, Paving the Way for Swifter Business Innovation
May 2, 2024From Silicon Valley startups to tech giants, artificial intelligence (AI) is rapidly transforming the art of computer programming. It offers developers a powerful new toolkit to brainstorm ideas, write and ...Read moreAnalysis: Microsoft’s $2.2 Billion AI Bet May Boost Malaysia’s Tech Industry
May 2, 2024Microsoft will inject $2.2 billion into Malaysia’s burgeoning cloud and artificial intelligence (AI) infrastructure over the next four years, CEO Satya Nadella announced on Thursday (May 2). The tech giant’s move ...Read morePrivate Equity Firm Permira Acquires Majority Stake in Fraud Prevention Firm BioCatch
May 2, 2024Private equity company Permira has acquired a majority stake in Israeli fraud/financial crime prevention provider BioCatch. The agreement, announced Thursday (May 2), values BioCatch at $1.3 billion, and comes amid a rising ...Read moreColorado Senate Rejects Bill Barring Rent-Setting Algorithms
May 2, 2024In a contentious session on Wednesday, the Colorado Senate voted against a bill aimed at prohibiting landlords from utilizing algorithms to set rent prices. The demise of House Bill 1057 ...Read moreBayer Faces US Antitrust Suit Over Pet Meds Competition
May 2, 2024An antitrust ruling unsealed on Wednesday has paved the way for life-sciences behemoth Bayer to confront a lawsuit alleging anti-competitive behavior in the market for tick and flea meds for ...Read moreBiden Cancels $6 Billion in Debt for Grads of Failed Art Institutes
May 1, 2024The White House has forgiven $6.1 billion in loans for Art Institutes graduates. That’s because, the Department of Education said in a news release Wednesday (May 1), those graduates were lied to by the now ...Read moreAntitrust Lawsuit Targets Hotel Giants for Alleged Price Fixing with AI
April 30, 2024A major antitrust class action lawsuit has been brought to federal court in San Francisco. The lawsuit, filed on Friday, accuses six prominent hotel operators of colluding to manipulate prices ...Read moreCleo Adds Order Automation Solution to Enhance B2B Buying Experience
April 30, 2024Cleo has introduced an order automation solution designed to help suppliers offer an enhanced B2B buying experience to their customers. The new CIC ORCA (Order-to-Cash Automation) portal delivers an “eCommerce to ...Read moreWalmart’s Vizio Acquisition Faces FTC Antitrust Review
April 30, 2024Walmart’s proposed acquisition of smart-TV manufacturer Vizio Holding Corp. is now set to undergo rigorous scrutiny by the Federal Trade Commission (FTC), as confirmed by Vizio on Tuesday. According to disclosures ...Read moreReem Finance and Visa Partner on Digital Payments in UAE
April 29, 2024Reem Finance, a financial services provider in the United Arab Emirates (UAE), has partnered with Visa to expand its offering of digital payment solutions. With the new strategic partnership agreement signed by the ...Read more
Grubhub Deepens Grocery Offering With Mercato Partnership
April 18, 2024Grubhub is expanding its grocery presence via a partnership with online marketplace Mercato. The collaboration, announced Thursday (April 18), will bring Mercato’s inventory from more than 950 independent grocery stores nationwide to the Grubhub Marketplace. “Grubhub ...Read moreKraft Heinz Sales Dip as Shoppers Make ‘Smaller Trips’
February 14, 2024From dollar store shoppers to wealthier club store members, consumers are seeking value. So said Kraft Heinz CEO Carlos Abrams-Rivera, addressing his company’s 7.1% quarterly sales drop during an earnings call Wednesday (Feb. 14). Speaking ...Read moreWalmart Shares Hit All-Time High as Groceries Draw Shoppers
November 3, 2023Walmart’s shares reportedly reached an all-time high Friday (Nov. 3), with investors betting on its ability to thrive during the holiday season. This peak, at $166.30, is the highest point since ...Read moreBuoyant Grocery Spend Sharpens Online, Offline Battle Lines Between Walmart and Amazon
September 15, 2023The latest official data from the United States government gives a nod to the fact that U.S. consumer spending on grocery products remains buoyant. The resilience will likely give new impetus ...Read moreReport: Hostess Weighs Sale After Takeover Interest From Food Giants
August 27, 2023Some of the world’s biggest food companies are reportedly interested in buying Hostess Brands. The Twinkies-maker is considering a sale after hearing takeover interest from companies that include General Mills, PepsiCo, Mondelez International and The Hershey Company, ...Read moreDeliveroo Orders Drop, but Customers Up Spending by 10%
August 10, 2023Deliveroo Plc, the British food delivery company, posted strong earnings on Thursday (Aug. 10) for the first half of 2023, even while total orders fell 6% as the company looks to ...Read moreWalmart Offers Customers on Government Assistance Walmart+ Discounts
July 20, 2023Walmart is continuing its efforts to court customers who receive government assistance. The retail giant on Thursday (July 20) announced the debut of its Walmart+ Assist program, which offers customers on government assistance half ...Read moreConsumers Purchase Groceries at Walmart, Saving Pricier Item Spend for Amazon
June 30, 2023Walmart’s strength may lie in its numbers, as its purchase rate far beats its closest competition. In-person shopping beats online in how often consumers shop at the world’s largest two retailers, ...Read moreWhite Castle Launches Beer as Restaurants Enter Grocery Stores
March 30, 2023As restaurants expand their grocery store offerings, White Castle is doubling down on branded beer. On Thursday (March 30), the quick-service restaurant (QSR) chain announced the launch of its second beer ...Read moreCostco Leverages Prepared Food Demand to Drive Memberships Amid Inflation
March 2, 2023Costco is drawing in customers amid inflation by meeting their demand for more affordable restaurant alternatives. On a call with analysts Thursday (March 2) discussing the members-only warehouse chain’s second quarter ...Read more
UK Consumers Love to Shop From the Comfort of Their Homes
May 2, 2024Shoppers in the United Kingdom love eCommerce, disproportionately preferring to make purchases online without engaging with physical stores, PYMNTS Intelligence reveals. By the Numbers The PYMNTS Intelligence study “2024 Global Digital Shopping ...Read moreGen Z Car Buyers Shop Digitally but Complete Purchases in Person
May 2, 2024Consumers — especially younger generations — are conducting more and more purchases digitally, but especially for high-consideration, large-ticket items such as cars, many shoppers are not willing to give up ...Read moreInstacart Becomes Kohl’s Same-Day Delivery Partner, Continues Expansion Beyond Grocery
May 2, 2024Instacart has become the exclusive same-day delivery partner of Kohl’s. With Kohl’s now on the Instacart App, nearly 109 million households can access same-day delivery from 1,172 Kohl’s department stores across the United States, ...Read moreCompeting With Giants: How Small Businesses Can Optimize Their eCommerce Efforts
May 2, 2024This National Small Business Week, merchants are increasingly moving beyond Main Street — and into eCommerce. And with the news that the post-pandemic growth for most Main Street small and medium-sized ...Read moreDoorDash Reports Record-High Orders as Consumers Seek Digital Solutions, Convenience
May 1, 2024DoorDash set new company records across several metrics in the first quarter as it continued to expand its services into new segments of the local retail economy. The on-demand delivery aggregator set ...Read moreCarvana’s Inventory ‘Constrained’ as Online Used Car Retailer Posts Record Q1
May 1, 2024Online used car retailer Carvana reported “milestone” first quarter (Q1) results on Wednesday (May 1), fueling a 30% surge in its stock price. This strong performance comes on the heels of ...Read moreEBay Targets Gains in Back Half of 2024 Amid ‘Tough’ Discretionary Spending Environment
May 1, 2024EBay’s gross merchandise volume (GMV) eked out slight gains in the most recent quarter, but the tally of 131 million active buyers in the quarter was unchanged. And growth may be ...Read moreEpos Now Considers Sale of Minority Stake
May 1, 2024British payments group Epos Now is running a private placement process to sell a minority stake in the business and bring on a strategic partner “for the next stage of ...Read moreConsumers Aren’t Buying Many Handmade Trinkets Amid Economic Concern
May 1, 2024As consumers continue to feel the economic strain, they are cutting back on buying boutique, handmade items from independent creators, per Etsy’s latest earnings call. The marketplace shared in its first ...Read moreEstée Lauder Targets New Customers With Amazon Storefront, ‘Creator Council’
May 1, 2024Estée Lauder Companies’ debut of its first brand on the U.S. Amazon Premium Beauty store has “greatly exceeded” the company’s retail sales expectations so far. This new offering, which started with the Clinique brand in late March ...Read more
Block Sees Both Banking and Bitcoin Driving Future Growth
May 2, 2024Block, owner of Cash App and Square, is also a huge owner of bitcoin. This, as the company’s latest first quarter 2024 earnings results revealed that the company’s $200 million investment in bitcoin grew by around 160% ...Read moreMercado Libre’s Investments in Mexico Propel Earnings
May 2, 2024Saying that its “ecosystem is our competitive strength,” Latin American payments and eCommerce powerhouse Mercado Libre reported strong Q1 revenue growth in all areas of its multifaceted business Thursday (May 2). ...Read moreChase’s New SMB Offerings Point to Appeal of Ad Hoc Real-Time B2B Payments
May 2, 2024In B2B interactions, faster payments — especially ad hoc payments — may prove to be a competitive advantage. PYMNTS Intelligence found that non-recurring payments represent roughly a quarter of total accounts payable volume. One-third of ...Read moreChase Debuts Tools for Small Business Payment Pain Points
May 2, 2024Chase introduced a series of payments-oriented tools aimed at small- to medium-sized businesses (SMBs). The new tools include offerings to help SMB owners electronically create and send invoices and gain better insight into customers, the banking giant ...Read morePayment Networks Spotlight Rise of Tokenization and Contactless Payments
May 2, 2024Four years ago, the pandemic began to give wings to contactless payments. Now, as shown by earnings results from the likes of Mastercard and Visa, the payment methodology has taken flight. PYMNTS Intelligence data noted earlier ...Read moreMastercard Expands Start Path Program to Boost Payment Acceptance
May 2, 2024Mastercard has welcomed six startups to its Start Path program focused on improving payment acceptance. “The ability to accept electronic payments has been critical to shaping the future of commerce and ...Read moreVisa Stresses Education as Small Businesses Confront Fraud Vulnerabilities
May 2, 2024Most crimes, as the saying goes, are crimes of opportunity. And that’s bad news for small businesses, whose lack of resources and challenges when accessing financing often leaves them ill-prepared for ...Read moreMastercard: Tokenized Transactions Grow 50% Year Over Year
May 1, 2024Mastercard said in its most recent earnings report on Wednesday (May 1) that the shift to digital payments from cash is gaining strength, and contactless and tokenized transactions are proving ...Read morePayment Innovations Help Small Businesses Navigate the Main Street Maze
May 1, 2024Payments are the lifeblood of any business, but for small businesses, they are particularly crucial. And with the news that, in the last 12 months, Main Street businesses have operated with ...Read moreGoogle Transitioning Fitbit Pay to Google Wallet in Most Countries
April 30, 2024Google is transitioning its Fitbit Pay contactless payments to Google Wallet in most countries. “Google Wallet is now available for all Fitbit devices that support contactless payments,” a message on the Fitbit Pay web page said. “Fitbit Pay will no ...Read more