News

Study: 45% of retailers have no online fraud prevention

BY Marianne Wilson

San Jose, Calif. — Forty percent of retailers have no online fraud prevention in place, despite the fact that 85% consider online fraud prevention a high priority, according to a survey by ThreatMetrix, a provider of integrated cybercrime prevention solutions.

The study, “The ThreatMetrix 2012 State of Cybercrime Study,” was conducted by Info-Tech Research Group and surveyed U.S. business managers and IT executives within retail and financial services organizations on the level of cybersecurity solutions they have in place.

The most common IT security attacks retailers experienced in the last year are malware, Trojan and phishing attacks. Of the retailers surveyed46% experienced at least one malware attack in the past year, and 45% experienced at least one Trojan attack.

Despite these attacks, retailers barely spend any time researching IT security threats to stay ahead of cybercriminals. Nearly half (47%) of retail organizations surveyed spend less than five hours researching security threats each month, while 14% spend no time on preventative research.

“Retailers need to improve online fraud and cybercrime prevention practices or risk losing customers and revenue,” said Andreas Baumhof, chief technology officer, ThreatMetrix. “When consumers are hacked on e-commerce sites, they often avoid those merchants in the future. By implementing integrated cybercrime prevention solutions, e-retailers can provide a more secure experience for customers.”

In an effort to provide the safest transactions for consumers, retailers need to:

  • Screen transactions using previous transaction data to make better decisions about account takeover attacks. By tracking devices and accounts that have a history of fraudulent activity, retailers can block those devices from transactions.
  • Track transactions that are originating from a different country or IP address than where the account was created.
  • Screen for customer identification verification at both account login and prior to transaction completion.
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S.Gacho says:
Mar-30-2013 01:32 am

Online fraud can never be
Online fraud can never be good in the business world. It is just the same as stealing others knowledge and rights just to lead your business to success. - Steven Wyer

S.Gacho says:
Mar-30-2013 01:32 am

Online fraud can never be good in the business world. It is just the same as stealing others knowledge and rights just to lead your business to success. - Steven Wyer

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News

Family Dollar taps RetailSense for marketing software

BY Staff Writer

Tampa, Fla. — RetailSense, a marketing software company that accelerates retail and agile marketing processes, announced that Family Dollar Store has signed a multi-year contract with Retail Sense. This new partnership includes the implementation of the latest release of IntelliSense marketing resource management solutions.

“We rely on our partners, like Retail Sense, to deliver innovative products to support our growth and success so that we can focus on communicating our value message to our customers,” said Jocelyn Wong, SVP and chief marketing officer at Family Dollar. “This new partnership will help us manage all of the moving parts of our marketing campaigns and assist us in managing our marketing resources.”

To enable fast, fact-based marketing decisions, the IntelliSense marketing resource management (MRM) tool provides customizable dashboards for executives, merchandising and individual team members to access financial reports and historical information. By connecting merchandising, marketing and other departments, the integrated system eliminates redundancy and manual labor and improves planning for thousands of Family Dollar promotional programs. In addition, the improved data integrity results in greater accountability and better cost management.

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A.Sturdee says:
Apr-22-2013 01:03 am

I’m pleased to know that your
I’m pleased to know that your online marketing is working well and that there are still plenty of competitors to arrive. You still need to think what can make you and your products, promotion will do for you to remain on top.

A.Sturdee says:
Apr-22-2013 01:03 am

I’m pleased to know that your online marketing is working well and that there are still plenty of competitors to arrive. You still need to think what can make you and your products, promotion will do for you to remain on top.

buangsila001 says:
Mar-30-2013 06:25 am

The partnership with this to
The partnership with this to companies will definitely boast their performance in term of sales. This will also make the job so easier. Congratulation. - Steven Wyer

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FINANCE

Toys ‘R’ Us profit and sales down in Q4 and full year; withdraws IPO plan

BY Marianne Wilson

Wayne, N.J. — Toys “R” Us on Friday reported that its sales and profits declined in the fourth quarter and the full year. The company also revealed in a regulatory filing with the U.S. Securities and Exchange Commission that it is withdrawing its plan to go public, blaming “unfavorable market conditions” and its “executive leadership transition” for the decision.

Toys “R” Us CEO Gerald Storch, who has held the position since 2006, announced last month he plans to step down. He will remain as chairman.

Profit in the quarter ended Feb. 2 fell 30% to $239 million amid a 35% jump in interest expense.

For the full year, due to losses in the first three quarters, net earnings were $38 million, down from $149 million.

Total sales for the fourth quarter dropped 2.6% to $5.77 billion for the quarter, down $155 million compared to the prior year. By segment, the company’s domestic division reported sales of $3.5 billion, down 2.1% versus the prior year. Same-store sales fell 4.5%.

In the international segment, the company’s sales fell 3.4% to $2.3 billion, with a 5.4% decline in same-store sales. (The chain’s reporting period for the fourth quarter included 14 weeks compared to 13 weeks in the prior year, with the extra week accounting for net sales of approximately $95 million.)

For the full year, net sales were $13.5 billion, compared to $13.9 billion in the prior year.

“We are pleased with the overall operating results our team delivered in 2012, particularly the growth in operating earnings in the United States, while our international operating earnings were impacted by the challenging global economic environment, predominantly in Europe and Japan,” Storch said in a statement. “The change in net income for the year was mainly attributable to costs associated with our successful debt refinancing and an increase in income tax expense."

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