Tag Archives: retailer

Barclaycard, Amazon to improve access to credit in Germany | Instant News

In an effort to drive online sales, Barclaycard is partnering with Amazon in Germany to offer installment loans to address the country’s low credit card ownership rates.

The partnership will offer installment financing for eligible purchases made over € 100 (approx. $ 118). Once Amazon customers select an individual financing package and complete an online credit application with Barclaycard Germany, they will receive an immediate response, enabling them to proceed to the next step in completing their purchase. The higher the value of a customer’s shopping cart, the greater the number of financing options available to them.

“We could not have expected a better partner from Amazon to initiate our purchase financing offering,” said Tobias Griess, CEO of Barclaycard Germany, in a press release. “Through this new and specialized service, we are providing Amazon customers with a fully digital, user-friendly installment payment option. With this new collaboration, Barclaycard Germany is equipping its credit card and consumer credit businesses with market financing in Germany. “

The terms of point-of-sale financing range from three and 48 months with an APR of 7.69%. Once approved, customers can add an agreed revolving line of credit to their Amazon wallet for future purchases. Customers can also choose to make a one-time payment or prepay the balance in full, all of which can be managed via the Barclaycard app.

The move by the Barclaycard and Amazon units in Germany is in response to the global trend of consumers turning to online shopping for added convenience and safety as the COVID-19 pandemic continues to limit in-store shopping.

Partnership addresses two limiting factors in growth German e-commerce: low credit card ownership and reliance on non-credit card payment options to pay for online purchases.

According to Federal Bank of Germany, general purpose credit card ownership has reached about a third of adults over the past decade. The most recent figures from 2017 put it at 36%. Meanwhile, debit card ownership is nearly universal in the country, with 98% of adults owning at least one.

Meanwhile 88% of Germans aged 15-79 shop online according to logistics companies PostNord, German Bundesbank found that the most common ways German consumers pay for goods online is to accept invoices (62%), PayPal (52%), direct debit (27%), credit cards (24%), prepayments (19%) and SOFORT bank transfers instant (18%).

Amazon’s partnership with Germany’s Barclaycard follows a similar partnership Amazon Spain took up with Madrid-based personal financial management provider Fintonic in 2018. Under the deal, Amazon and Fintonic offered Spanish customers a four-month 0% installment loan for purchases made on Amazon.es, for a minimum of € 200 (approximately $ 236 ) and a maximum of € 1,000 (approx. $ 1,180).


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PREIT, owner of the Philadelphia Fashion District, filed for bankruptcy in a restructuring plan | Instant News

The owner of the Philadelphia Fashion District and several other malls across the region have filed for bankruptcy as part of a move to restructure his business.

PREIT, short for Pennsylvania Real Estate Investment Trust, had indicated in October that its properties were in trouble due to the COVID-19 pandemic. The company made restructuring proposals to its lenders, hoping to avoid filing for bankruptcy, but ended up doing so after receiving 95% support for its plans.

That bankruptcy The filings announced Sunday ensure that the PREIT property can continue to operate without interruption while completing the restructuring.

“We are pleased to move forward by strengthening the Company’s balance sheet and positioning it for long-term success through our prepackaged plans. We are grateful for the significant support we have received from most of our lenders, which we hope will enable us to complete financial restructuring. us quickly, ” the word Joseph F. Coradino, CEO of PREIT. “Today’s announcement has no impact on our operations – our employees, tenants, vendors and the communities we serve – and we remain committed to continuing to provide the best experiences and enhancing our portfolio.”

PREIT has 21 properties in nine states and has sold several malls in recent years, including Phillipsburg Mall in New Jersey and Palmer Park Mall in Easton, Pennsylvania.

Among PREIT’s owned properties in the Philadelphia area are Cherry Hill Mall and Moorestown Mall in South Jersey and Willow Grove Park Mall, Plymouth Meeting Mall and Fashion District, a multi-year renovation of the former Philadelphia Gallery in Market East which is holding its grand opening in September 2019 .

PREIT reported a net loss of $ 29 million in the second quarter of this year, following coronavirus closures and reduced spending among consumers after malls reopened. In September, the company received a stock removal notification from the New York Stock Exchange after its share price fell below the $ 1 threshold.

Under filing for bankruptcy, PREIT will list some of its properties as collateral for debt and for the new $ 150 million loan it has received.

“With the tremendous support of our lenders, we look forward to emerging from this process as a financially stronger company with the resources and support to continue to create a diverse and multi-use ecosystem across our portfolio,” said Coradino.


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FBR awarded retailers an Rs40mln penalty | Instant News

KARACHI: The Federal Revenue Council (FBR) has imposed at least Rs40 million in fines on retailers who fail to comply with a legal obligation to integrate their sales system with tax authorities in real-time, said people with knowledge of the matter. on Monday.

Sources said the Karachi Regional Tax Office (RTO) imposed fines of Rs1 million each on about 40 major retailers, for failing to comply with mandatory integration with the FBR tax portal.

The source said the tax office started action against about 50 absenteeism last month and issued a notice to them warning them of “tough” action. A tax official said out of a total of 50 identified retailers, four points of sale were installed at their outlets and six other retailers were registered with FBR and in the process of installing POS.

The official said the retailers, who were being punished, might also face the sealing of their business if they failed continuously to integrate their business with the FBR database.

“The monetary penalty can be lifted if retailers who fail to pay agree to integration,” the official said. Karachi’s RTO started a crackdown after the integration date ended. FBR extended the integration deadline to August 31 for retailers, who were required to integrate their businesses under the Sales Tax Act 1990.

In 2017, FBR decided to bring major retailers into net sales tax to prevent revenue leaks and identify potential taxpayers involved in sales and purchases. A new clause – 43 (A) – was added to section 2 of the 1990 Sales Tax Act to specify which tier 1 retailers are required to integrate.

With this integration, FBR will be able to obtain transaction details from retailers, including their purchases from manufacturers and importers.

RTO Karachi in early September issued notices to retailers involved in the retail chain, cosmetics and clothing store businesses that had been identified during the survey. The official said FBR had extended deadlines to retailers over the past two years. However, retailers have shown no willingness to link their invoices with tax authorities.

RTO Karachi is also engaged in consultations with the chamber business association to make tier 1 retailers aware of their mandatory compliance, the official said. The official said that the Chairman of RTO Karachi Nazir Ahmed Shoro directed officials to ensure enforcement of tax laws and taxpayers is facilitated for POS integration. The tax office withdrew Rs11.1 billion in September, up 60 percent from Rs6.9 billion in the same month last year.


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One of the best-selling fashion illustrators in NYC is from Mercer Island | Instant News

High fashion. This is a world of luxury and glamor, flashbulb, runways and couture dresses. Many will never have the chance to wear designers like Gucci and Valentino, but fashion illustrations give people the opportunity to appreciate, maybe even worship, different ways.

“This allows people who don’t need to have access to high-end fashion brands to invite high fashion styles to their homes,” he explained Blair Breitenstein, which is one of the best-selling fashion illustrators in New York City. “That gives me a reason to have this fantasy world in my life because I normally wouldn’t use this designer.”

Breitenstein has worked with some of the biggest names in the industry, such as Chanel, Prada and Sak’s Fifth Avenue – his artwork has graced the pages of major magazines and he has garnered many followers in social media. But his passion for fashion and art began to grow on Mercer Island, and spent time with his grandfather, an abstract painter, and grandmother, a serious fashionista, who might be Breitenstein’s biggest fan.

“The way my grandmother dresses – she still dresses like this to get a letter, she wears full clothes. She makes her hair every weekend with jewelery full of beehives, clothes all the time. So I think I’m really only inspired by her love of fashion,” he said .

As a child, Blair often flipped the pages of his grandmother’s W Magazine, Vogue or Town and Country magazine. He also collected … shopping bags.

“Nordstrom shopping bags at Christmas when we grow up, they have illustrations on it,” Breitenstein said. “When I was 7 years old I would keep every bag and every gift card from Nordstrom that has illustrations on it.”

Breitenstein initially did not pursue art as a career. He holds a communications degree from Washington State University and works at an advertising agency in Seattle. Then he began to share his illustrations on the internet.

“Etsy is a platform that made me realize that people are interested in paying money for my art because people buy my prints. They are $ 25 and I will make it at Kinko,” he said. “It made me realize people want what I make. From Etsy, I started using Instagram. Instagram is where I start marking brands, magazines and creative directors. With Instagram you can see when you are tagged in something, so I only caught the attention of a few important people. “

One of the key people was an executive at Oscar de la Renta, who invited him to New York to sketch backstage and from the audience during their fashion show.

“I remember actually crying on my desk when I received the e-mail because at that time I had begun to get a little professional job. So, I began to think ‘This will be a dream to go to a fashion show’. When that happens, only words can I think about it [to describe it] it’s real. I cried literally because it was one of my dreams that came true, “he said.

Working with de la Renta opens the door. He traveled to Europe for two fashion week seasons with MAC Cosmetics and designed international packaging for the Fresh cosmetics brand, among many other impressive projects. But it was Blair’s approach, his style – that distinguished his work. It’s abstract, fun and often spontaneous.

“Sometimes a picture will take ten minutes for me and I don’t think that means it’s less than a work of art,” Breitenstein said. “I think it just adds to the pleasant dynamics of my work quickly and makes you see small mistakes such as water droplets. I think that makes them unique and fun and not too serious.”

His works often focus on the eyes of the subject and include a vintage vibe, something that continues to resonate with fans and big brands, including those close to home.

“I did a Nordstrom gift card a few years ago. It was a kind of full circle,” Breitenstein said. “Nordstrom gift cards and bags are what triggered my desire for fashion illustration, so that being able to do Nordstrom gift cards is really cool. I’m glad I can donate some work to Seattle, the Seattle brand.”

So, what’s next for Blair? With a fashion show on the pause, he found new inspiration in the world around him such as household goods, food or just the view from his roof.

“I think part of my future will try new things and different subjects and I’m very excited about that.”


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Italy to ease travel restrictions, businesses are reopened | Instant News

ROMA Italy will allow international travel to and from the country starting June 3, according to the decree signed by the government on Saturday. People will also be allowed to move freely within the country from the same date, as Italy seeks to gradually end its coronavirus. lock steps. Bars, restaurants and hairdressers will reopen from Monday, about two weeks ahead of schedule, when the government of Prime Minister Giuseppe Conte succumbs to increasing pressure from struggling business owners. After reaching an agreement with the regional governor, the government launched general guidelines on Saturday which would allow businesses to restart their activities. Restaurants must ensure a distance of at least one meter between customers, who will be required to place an order. Business owners are also asked to keep booking records for at least two weeks to help track the possibility of infection. The guidelines also recommend temperature checks for visitors on arrival. One time meeting er distance must also be applied for people standing at the bar counter to drink. Hair stylists and beauty salons must also start taking reservations and must ensure strict sanitary measures. Both workers and clients will be required to wear protective masks and clients will not be allowed to chat while waiting for their turn. Many retailers, however, protested throughout Italy, saying the new rules remained unclear and could cause further damage to their business. The government decided to allow businesses to open ahead of schedule amid pressure from local governors to ease the locking rules, because the number of new COVID-19 cases has slowed significantly. On Friday, Italy reported 242 more deaths, bringing the number of victims to 31,610, while active cases fell 4,370 to 72,070. Of the total of nearly 224,000 cases reported in the country to date, more than 120,200 people have recovered, according to official figures.

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