The Container Store takes a hit after weak holiday numbers

retaildive | January 06, 2019

The Container Store on Tuesday reported consolidated net sales fell 0.6% to $221.6 million in the third quarter. Net sales in the company's retail business rose 0.5% to $204.9 million, and third-party net sales took a hit, falling 12.6% to $16.7 million, which the company attributed to "foreign currency translation."Same-store sales fell 0.8%. The company said holiday departments' sales sunk 15.8%, contributing to a 3% decline, but sales from Custom Closets jumped 4.5%, contributing to a 1.8% increase, according to a company press release. The Container Store also released partial-quarter numbers for Q4, noting that comp store sales in January rose 9.4%.Consolidated net income was $9.3 million in Q3, down from $28.4 million in the year-ago period. Adjusted EBITDA was $21.8 million, down from $25.6 million a year ago.

Spotlight

Online shopping in the Nordics has reached a high and steady level with 89% shopping online. Among these shoppers, 48% claim that they do most of their shopping online, while 40% say that they prefer to do their purchasing in offline stores. Despite the rise of ecommerce, this figure shows that the majority of the population still prefers to go offline to do their shopping as 11% don’t do online shopping at all.


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POS SOLUTIONS

Lunchbox unveils new product to simplify restaurant POS systems and integrations with third party platforms

Lunchbox | May 05, 2022

Lunchbox, the modern ordering system built to grow online revenue for restaurants, announced today the launch of Lunchbox Rails, the first advanced all-in-one integrations system for managing third-party online ordering built for operators. Lunchbox Rails allows operators to consolidate all third-party marketplace orders (Doordash, Grubhub, EZcater, UberEats, Postmates, and Skip the Dishes) and pulls all order information into a restaurant's point of sale (POS) system. Unlike other solutions which charge a high monthly fee, Lunchbox charges a recurring flat fee for a fraction of the price. In 2021, guests placed online orders from third-party sites more than ever before. Rails solves the issue of tablet farms by running everything through the POS, simplifying operations for restaurants. With Rails, restaurants will have access to the following features: Edit all menus at once: Marketplace menus (Doordash, Grubhub, EZcater, UberEats, Postmates, and Skip the Dishes) and pricing are updated in real time, including 86'd items, every time the POS is updated. Automated business hours: Account for seasonality and per-location business hours. Business and seasonal hours are automatically uploaded to 3rd-party marketplaces so you have more time to focus on what matters - creating a great guest experience. Smart menu structures: Map your menu configuration inside your POS to any 3rd party marketplace without having to worry about what menu, item, or modifier types are supported between the platforms. Direct orders to POS: All third party marketplace orders are downloaded automatically and seamlessly into your POS. Configure unique prices across multiple menus: Lunchbox gives you the flexibility to make granular changes to a menu item without affecting that item on other platforms. Get right down to the dollar amount, percentage mark-up per category, item, per marketplace, or per store. You have full control over the prices you charge at each channel. Global throttling: Control how many orders can be placed based on order volume, dollars spent during a given time on a story by store basis. This also includes any order volume from first party or API integration partners. "Restaurants need to make quick changes, keep track of orders, and manage everything in one place. We've created the solution that eases the pain that all operators are experiencing today by streaming in-store operations and reducing tablet hell, With Rails, operators will gain valuable time back and be able to concentrate on delivering the best guest experience." -Nabeel Alamgir, co-founder and CEO of Lunchbox. In addition to the launch of Lunchbox Rails, the company is unveiling a new initiative called the Lunchbox Scholarship Fund. This new program provides financial support to workers in the restaurant industry who are interested in furthering their education. In the month of May, proceeds from Rails signups will be donated to the Lunchbox Scholarship Fund. According to the National Restaurant Association, the food service industry workforce is projected to grow by 400,000 jobs by the end of 2022. A significant portion of food service workers are teens, part time students, or interested in pursuing higher education. This program builds on Lunchbox's continued mission of helping the people that feed the world. Lunchbox has helped arm restaurants with the resources they need to boost sales and protect their profits. Lunchbox has empowered over 2500+ restaurant locations across the country including Bareburger, Clean Juice, Fuku, Little Sesame, Papa Gino's, Sticky's Finger Joint, and Tacombi. To date, Lunchbox has saved restaurants over $43 million that would have otherwise gone to third-party ordering platforms. Lunchbox Rails is now available for all restaurants in North America. To learn more about the product or book a demo visit: lunchbox.io/lunchbox-rails. To learn more about the Lunchbox Scholarship Fund please visit: lunchbox.io/lunchbox-scholarship. About Lunchbox Lunchbox is the modern ordering system for restaurants to grow their online revenue. Lunchbox enables restaurant chains to take control of their digital growth strategy through its suite of products specializing in app and web ordering, customer loyalty, and marketing tools to increase sales and strengthen guest engagement.

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POS SOLUTIONS

Streamloan Announces Integration with Ice Mortgage Technology's Encompass Solution

StreamLoan | March 15, 2022

StreamLoan, Inc., a provider of Point-of-Sale (POS) business-boosting, LOS-integrated mortgage tools announced that its mobile-first mortgage lending collaboration solutions is now built on web-based Encompass® and available through ICE Mortgage Technology™, part of Intercontinental Exchange, Inc., a leading global provider of data, technology and market infrastructure. The integration drives digital workflow automation extended to lenders, borrowers, and realtors driving speed, quality, and efficiency in the loan origination process. It also provides bi-directional integration and data flow that reduces risk and ensures all parties in a single transaction stay updated in real-time. "Each counter-party functions in real-time at their company desk, home office, or at their kid's soccer game. That's the kind of tech enabled lending today's borrowers and loan officers are expecting from lenders. It's really table stakes in this environment." StreamLoan co-founder and CEO Stephen Bulfer StreamLoan's Collaboration Suite makes this type of clear and compliant communication possible. In addition, users are prompted to take the next step, which speeds up the time to close. Lenders find their business grows rapidly when they begin offering StreamLoan's platform, experiencing an increase in mortgage production conversion rates across retail and online channels.Time to value is fast. StreamLoan is now launching digital storefronts for lenders in weeks. "Our customers notice that while some players in this space spent development time on shiny objects, StreamLoan has spent its time sweating the details developing the functional areas that have a meaningful impact on our lenders' businesses," said Bulfer. "Importantly, our integration with ICE Mortgage Technology is of such high quality, we can stand up new customers in a matter of weeks, without an army of lender IT resources, quickly unlocking new growth potential from the lender's existing digital investment in ICE Mortgage Technology." StreamLoan can service a wide range of lenders from a local branch up to an enterprise with hundreds of branch offices, specializing across retail, consumer direct, and correspondent lender channels. The platform is highly configurable and customizable, which allows the platform to quickly, easily, and less costly adapt to the ways lenders run their business. It offers native mobile apps across both iOS and Android, in addition to a responsive web and desktop solution that means the user experience is seamless moving from one platform to another. About StreamLoan StreamLoan was founded in 2015 to make the journey to homeownership as rewarding as the destination. The company is based in San Francisco and is backed by top-tier Silicon Valley VC investors representing real estate, finance, FinTech and other innovative technology industries. About Intercontinental Exchange Intercontinental Exchange, Inc. is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

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POS SOLUTIONS

Citcon Expands Ecommerce Payments Presence to South Korea and Japan

Citcon | March 08, 2022

Citcon, Inc. the leading mobile wallet payment provider enabling global commerce at scale, today announced that it has expanded its global footprint to encompass South Korea and Japan. Merchants using Citcon ‘s global payments gateway can now transact with consumers in these markets using all local payment methods, including more than 30 locally issued credit and debit cards and eight popular digital wallets, all through a single payments gateway. Retail ecommerce and digital sales in Asia Pacific totaled nearly $2.99 trillion in 2021. Japan and Korea are the 4th and 5th largest markets for digital sales and ecommerce transactions in the world, and the 2nd and 3rd largest in the region ranking only behind global leader, China. Together Japan and South Korea account for more digital commerce than Germany, France and India, combined.1 “We are enabling merchants to enter global markets where ecommerce is expanding rapidly, yet market participation requires a localized payments solution. With on the ground presence in South Korea and Japan, we can help merchants of all types expand their ecommerce offerings into these fast-growing markets, enabling them to securely transact in local currencies and native languages preferred by shoppers in these regions through one integrated technology stack.” Chuck Huang, Founder and CEO of Citcon Citcon’s global payments solution simplifies the complex challenge of integrating and managing multiple payment methodologies to enable cross-border commerce. Through this platform, local transactions, even for those using global credit cards, are routed through local acquirers - in South Korea and Japan - significantly reducing processing fees for merchants and increasing acceptance rates for consumers. 3D Secure 2.0 standards have been integrated to provide security and fraud protection for purchases made with global credit cards. Merchants using the Citcon platform can now accept payments from 30 global and regional credit and debit cards including Visa, MasterCard, AMEX, JCB, DinersClub,, BC Card, Lotte, Hyundai, KB, Samsung, Samsung App Card Pay, Shinhan, Woori, Hana, Citibank, Post Office, Kwangju, L.Pay, Kakaobank, MG, Suhyup, Jeonbuk, Shinhyup, Jeju, KDB, Hana, KB Able, K Bank, Mirae Asset, and KEB. The Citcon platform also enables the use of each country’s most popular digital wallets. In Japan merchants can process transactions using PayPay, RakutenPay, LinePay, AliPay and UnionPay. In South Korea, Citcon enables direct bank transfer, as well as payments through the most popular digital wallets including Toss, KakaoPay, NaverPay and Payco. “Enabling cross border commerce requires not only an understanding of the market dynamics and transaction preferences of consumers, but also the customer experience insight to ensure a smooth checkout process,” explained Wei Jiang, Citcon COO and President. “Our customer experience pathway delivers a checkout experience whereby customers are seamlessly served the appropriate payment window or app interface, built in authentication layers ensure transaction fidelity, and quick approval and order confirmation provide confidence to both customer and merchant that their purchase has been received safely and payment has been processed.” For more about the features and benefits of the Citcon platform for merchants currently operating in or considering expanding to Japan or South Korea, please see these two new market perspectives from the global payment experts at Citcon: Japan Payment Methods: What Merchants Need to Know and South Korea Payment Methods: What Merchants Need to Know. About Citcon Founded in 2015, Citcon’s fintech platform enables seamless global commerce at scale by connecting the world’s businesses with more than 100+ mobile wallets, local and alternative payment methods. Citcon integrates with POS and ecommerce systems such as Toshiba, Oracle, Cegid, Shopify and SAP and is currently deployed at more than 30,000 merchants' sites and locations, including major brands such as L’Oreal, Tumi, Texas Instruments, Revolve, Macy’s, and Panda Express. In October 2021, Citcon closed a $30MM Series C funding round. The company is backed by leading global investors Norwest Venture Partners, Cota Capital, Sierra Ventures, Sonae, and East-West Bank. Citcon has five regional offices in the US, Canada, Europe, and Asia to service its global clientele.

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POS SOLUTIONS

CyberLink to Showcase Smart Retail Solutions at NRF 2022

CyberLink | January 15, 2022

CyberLink Corp. (5203.TW), a pioneer of AI and facial recognition technologies, will showcase new, contactless smart retail solutions. This solution is powered by its market-leading FaceMe® engine running on the Qualcomm® QCS6125 multimedia processor at NRF 2022 in New York. FaceMe® will be featured at Qualcomm Technologies booth #1411, in the Javits Convention Center, January 16-18, 2022. FaceMe® is one of the world’s top facial recognition engines, with edge-based, optimized architecture delivering precise biometric data in a few milliseconds with up to 99.82% accuracy, and is top-ranked in NIST FRVT (Facial Recognition Vendor Test). Qualcomm® QCS6125 multimedia processor delivers integrated heterogenous compute capabilities to provide optimized Edge AI performance in addition to robust security core for secure biometrics processing. FaceMe® offers cross-platform capabilities on Windows, Linux, Android and iOS, for a variety of edge devices and different hardware configurations, which makes it an ideal solution for smart retail, from kiosks and POS, to personalized shopping, digital signage and statistics. FaceMe® offers a broad and growing set of features and tools that redefine accuracy, performance, security, and flexibility standards for a wide range of industries. Since the launch of FaceMe® in 2018, CyberLink has collaborated with over a hundred global partners, including hardware makers, solution providers, and system integrators, deploying its technology across multiple scenarios. “Working hand in hand with Qualcomm Technologies, CyberLink is leveraging both companies’ technologies to enable a wide range of new user experiences, as demonstrated for retail at NRF, Our continued collaboration with Qualcomm Technologies has been integral in making CyberLink’s FaceMe® solution the most advanced biometric access technology in the market. We look forward to having NRF attendees visit the Qualcomm Technologies booth to see FaceMe in action.” -Dr. Jau Huang, Chairman and CEO of CyberLink. “Qualcomm Technologies is pleased to work closely with CyberLink to drive next-generation biometric solutions and we look forward to showcasing the FaceMe® demonstration at NRF, We have worked collaboratively with CyberLink to support pre-integration capabilities to enable customers and our ecosystem to save time on their development and accelerate the go-to-market timeline for their applications in Retail such as Biometrics Payment, Access Control, Loyalty and more.” -Ketal Gandhi, Director, Business Development, Qualcomm Technologies, Inc. CyberLink is inviting NRF visitors to stop by Qualcomm Technologies’ booth to see some exciting results of this collaboration, including its application into POS solutions from Ordyx. Ordyx will introduce a complete POS system accessed by facial recognition for both cashiers and opted-in customers who desire to pay using their face. This new system leverages FaceMe® facial recognition and the Qualcomm QCS6125 solution to create a secure, fast and convenient new experience for customers. About CyberLink Founded in 1996, CyberLink Corp. (5203.TW) is the world leader in AI facial recognition technology and multimedia software. CyberLink addresses the demands of consumer and commercial markets through a wide range of solutions, covering AI facial recognition, digital content creation, multimedia playback, video conferencing, live casting and mobile applications. With years of research in the fields of artificial intelligence and facial recognition, CyberLink has developed the FaceMe® Facial Recognition Engine. Powered by deep learning algorithms, FaceMe® delivers the reliable, high-precision, and real-time facial recognition that is critical to AIoT applications such as smart retail, smart security, and surveillance, smart city and smart home. To learn all the latest about facial recognition, its benefits and implementation considerations, read our Ultimate Guide to Edge-based Facial Recognition.

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Spotlight

Online shopping in the Nordics has reached a high and steady level with 89% shopping online. Among these shoppers, 48% claim that they do most of their shopping online, while 40% say that they prefer to do their purchasing in offline stores. Despite the rise of ecommerce, this figure shows that the majority of the population still prefers to go offline to do their shopping as 11% don’t do online shopping at all.

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