The Retail Equation designated PCI DSS compliant
Irvine, Calif. The Retail Equation, a leader in retail transaction optimization solutions, announced it is again validated compliant with the Payment Card Industry Data Security Standard (PCI DSS). Digital Resources Group (DRG), a qualified security assessor company (QSAC) and approved scan vendor (ASV) credentialed by the PCI Security Standards Council, conducted the compliance validation in a time when PCI DSS standards are becoming increasingly rigorous each year.
“By meeting the card industry’s most stringent set of data security requirements, PCI DSS v1.2, and validating its compliance against this standard, The Retail Equation has demonstrated that data security is of the utmost importance to the company and its clients,” explained Jim Cowing, CISSP, QSA and CEO for DRG. “Not only has the company adhered to cardholder security best practices, it is also diligent in the application of the same standards to the handling of sensitive consumer transaction information, like drivers license data — positioning the company as an industry leader in security compliance.”
PCI DSS is the payment-card industry’s data security requirement for entities that store, process or transmit cardholder data, and has been endorsed by all the major card brands — Visa, MasterCard Worldwide, Discover Network, American Express and JCB. Audits to assess PCI DSS compliance must be conducted on a regular basis by all service providers and major retailers. The Retail Equation, which works with retailers nationwide to offer return optimization solutions, engaged DRG to conduct a third-party security review to determine whether the company met PCI requirements related to the protection of data contained in retail transactions provided by its clients. The Retail Equation and all systems involved in utilizing cardholder data and personally identifiable information used for identification and analysis were evaluated by DRG during the compliance validation process.
“Given todays meticulous PCI DSS testing requirements, The Retail Equation is pleased to be re-validated as PCI DSS compliant. While the PCI assessment focuses on our credit-card security, we take those standards and apply them to the personally identifiable information that is even more critical to us and our retail clients,” said Raymond Kelly, IT director for The Retail Equation.
Limited Brands sees EPS increase
COLUMBUS, Ohio Limited Brands reported that adjusted earnings per share for the first quarter ended May 1, were 25 cents compared with earnings per share of 1 cent for the quarter ended May 2, 2009. First quarter operating income was $185 million compared with operating income of $65.2 million last year, and adjusted net income was $82.9 million compared with net income of $2.6 million last year.
Comparable-store sales for the first quarter increased 10%, and net sales were $1.93 billion compared to $1.72 billion last year.
The company stated that it expects 2010 second-quarter adjusted earnings per share to be 27 cents to 32 cents compared with adjusted earnings per share of 19 cents per share last year.
For 2010, the company expects adjusted earnings per share of $1.60 to $1.80.
Children’s Place Q1 sales, earnings up
SECAUCUS, N.J. The Children’s Place Retail Stores announced first-quarter net income from continuing operations of $28 million, or $1.00 per diluted share for the 13-week period ended May 1, compared with $23.7 million, or 80 cents per share in the first quarter of 2009.
Net sales increased 5% to $422.1 million in the first quarter of 2010, compared with $401.9 in the first quarter of 2009. Comparable-retail sales, which include online sales, declined 0.5% in the first quarter of fiscal 2010 compared with a 1% increase the previous year. During the first quarter of 2010, comparable-store sales declined 1.7% in the United States and 4.6% in Canada, while online sales increased 22%.
“We delivered record financial results and made significant progress on key initiatives in the first quarter of 2010,” commented Jane Elfers, president and CEO of The Children’s Place. “We strengthened the senior leadership team with the appointment of five talented and experienced executives to head our merchandising, planning, outlet, information technology and human resources operations. In addition, we accelerated our new store openings, sharpened our marketing programs and continued to drive double-digit online growth.”
The company updated its guidance for fiscal 2010 and now projects earnings per diluted share from continuing operations will be in the range of $3.05 to $3.15, reflecting its first quarter results, from its initial guidance of $2.90 to $3.10. The company provided initial guidance for the second quarter of 2010, which is forecast to be a loss per share from continuing operations of 38 cents to 33 cents.