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Search resuls for: "Arriana Mclymore Doyinsola Oladipo"


2 mentions found


☆ Etsy, other e-commerce companies feel squeeze of SVB collapse
  + stars: | 2023-03-13 | by ( Arriana Mclymore Doyinsola Oladipo | Arriana Mclymore | Doyinsola Oladipo | ) www.reuters.com   time to read: +4 min
Approximately 0.5% of Etsy's active sellers -or around 2,700 merchants- had their payments delayed on Friday related to SVB's collapse, according to Etsy. The payments Etsy sellers received is unrelated to the Federal Reserve's Sunday announcement, which ensured that SVB's customers would have access to their funds on Monday. Shopify has temporarily paused payments to its merchants who receive payments to SVB accounts. These online sellers must update their bank accounts that have no connections with SVB to resume getting payments. Switching bank accounts can pose a problem for sellers whose sole business account was with SVB.
☆ U.S. retailers fill store shelves with leftover holiday inventory
  + stars: | 2022-10-19 | by ( Arriana Mclymore Doyinsola Oladipo | Arriana Mclymore | Doyinsola Oladipo | ) www.reuters.com   time to read: +3 min
NEW YORK, NY, Oct 19 (Reuters) - The Ghost of Christmas Past haunts U.S. store shelves, sales floors and stockrooms this year. Retailers were sitting on $548.8 billion of inventory in July, a 21.6% increase from last year, according to U.S. Census data. Even with retailers slashing prices by up to 40%, shoppers so far this year are hesitant to make major holiday purchases. Increased markdowns and slowed consumer demand may hurt companies' gross margins, said Cowen retail analyst John Kernan in an October note. Analysts are expecting gross margins to shrink for each of the companies next quarter, according to data from Refinitiv.
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