Online Shopping

Neiman Marcus plans to spend $85 million to upgrade online shopping experience

Neiman Marcus is beginning to show the “financial flexibility” it gained from a difficult bankruptcy filing last year.

The luxury retailer said Wednesday that it will spend $85 million on systems and fulfillment centers, including an investment in its Pinnacle Park distribution center in Dallas, to strengthen its online business.

At the same time, the Dallas-based retailer hired two new executives and said it plans to remodel six stores in the next 18 months.

CEO Geoffroy van Raemdonck said the moves accelerate the company’s “transformation reflecting our renewed financial flexibility and desire to invest in areas that are a source of unique competitive advantage and create shareholder value.”

Bob Kupbens, executive vice president and chief of product and technology officer at Neiman Marcus.
Bob Kupbens, executive vice president and chief of product and technology officer at Neiman Marcus.(Neiman Marcus)

Bob Kupbens, whose background includes Apple, eBay, Delta and ADT, becomes executive vice president and chief product and technology officer. The company said Kupbens will

Read More

Facebook looking good with ad business pushing social media giant to record revenues

Facebook Inc. posted record revenue and profit in the fourth quarter as online holiday shopping and increased use of the company’s platforms during the pandemic drove a surge in its ad business.

However, the social-media giant warned Wednesday that uncertainty from regulatory probes and the potential for weaker ad-targeting capabilities related to Apple Inc.’s iOS 14 operating system could hurt its business.

FACEBOOK, LYFT, DOORDASH CUT OFF DONATIONS TO GOP PROSECUTORS REPORTEDLY LINKED TO CAPITOL RIOTS

Facebook posted revenue of $28.07 billion, up from $21.08 billion in the final quarter of 2019. Facebook’s profit rose 52% to $11.22 billion, or $3.88 a share. Both measures far exceeded analysts’ projections.

The company has pushed for years to make its platforms essential

Read More

Retirees, Protect Yourself From Thieves Online

Whether it’s fake online shopping sites, identity theft or scam artists using phone or email, fraud is on the rise, with a record 1.3 million cases in the first nine months of 2020, according to the Federal Trade Commission. 

Although anyone can become a victim, FTC data show that consumers age 80 and older are far more likely to be scammed by phone and lose the most money, a median of $1,250. “Even if you do everything perfectly, you can still be susceptible to fraud,” says Shameka Walker, a fraud and identity theft program manager for the FTC. 

By now, you probably know not to give out sensitive information to anyone contacting you and that credit cards offer more protection against fraud than debit cards. With a credit card, the most you’ll be responsible for is $50. Debit cards, on the other hand, could leave you paying for all

Read More

The Phoenix area shopped more online in 2020, helping cities survive

Stuck at home last spring and summer as cases of COVID-19 soared, Arizonans found something else to do: shop online.

Online shopping in Maricopa County jumped up by about 27% from March, when Gov. Doug Ducey issued a stay-at-home order, to May, when the lockdown was lifted, according to taxes collected for online sales. By November, it had increased by about 71%.

Those numbers don’t give a complete picture of online spending in Arizona because they only capture local purchases from retailers that don’t have stores or warehouses in the state. This includes at least the portion of Amazon sales through third-party vendors. Big-box stores, such as Target and WalMart, also submit tax collections for online sales, but it falls under a different category.

Nationally, Americans spent about 40% more online and mail-order shopping in November compared with March, according to a U.S. Census retail survey.

New online sales tax

Read More