Visa announces the availability of its suite of sensory branding for merchants, terminal manufacturers and developers

Verifone, Equinox Payments, Ingenico Group, and Poynt Sign-on to Pilot New Visa Sensory Branding: Sound, animation, and haptic (vibration) that signifies completed transactions

NEW YORK, 2018-Jan-16 — /EPR Retail News/ — NATIONAL RETAIL FEDERATION “BIG SHOW” – Visa (NYSE: V) today (Jan. 14, 2018) announced that its suite of sensory branding is now available as a pilot program for merchants, terminal manufacturers and developers. In a world increasingly filled with voice-commands, networked appliances and payment-enabled wearables, Visa’s unique sound, animation and haptic (vibration) cues signify completed, secure transactions in digital and physical retail environments when consumers pay using Visa.

“Our research has shown that Visa’s sensory cues signal speed, trust and convenience among consumers,” said Jack Forestell, head of global merchant solutions, Visa Inc. “As new payment experiences proliferate, we are helping our partners assure their customers that their transaction has been quickly and securely completed, no matter how they prefer to pay.”

Covering approximately 60 percent of the U.S. merchant point-of-sale terminal market1, manufacturers Equinox Payments, Ingenico Group, Poynt, and Verifone are working with Visa to pilot sensory branding with merchant partners in the coming year. According to a recent consumer study conducted in eight countries, 81 percent 2 of participants said they would have a more positive perception of merchants who used either the sound or animation cues. Additionally, less than a second in length2, the sound of Visa was found to signal speed and convenience.

“We are pleased that Visa will be first to take advantage of new Verifone capabilities that enable distinctive experiences for cardholders,” said Vin D’Agostino, executive vice president at Verifone. “We believe merchants and consumers benefit from a more personalized and relevant experience at check out and offer a powerful and open platform to allow innovators like Visa to create those experiences at the last inch of commerce.”

“Equinox is thrilled to be part of Visa’s innovative sensory branding initiative,” said Rob Hayhow, vice president, Equinox Payments. “Our Luxe family of devices has been designed to take full advantage of this technology by putting the customer experience at the forefront of every transaction.”

Visa’s sensory branding is scheduled to be available as a software development kit (SDK) for iOS, Android, and Web solutions on the Visa Developer Platform on January 31st. Developers can visit https://developer.visa.com/ to learn more about integrating the features into their solutions.

As a presenting sponsor of NRF 2018’s Innovation Lab, Visa’s sensory branding will be showcased at NRF 2018: Retail’s Big Show in New York, where attendees can test the technology through an immersive, interactive demonstration. To explore how industry leaders like Visa are forging new frontiers in digital transactions, Visa CEO Al Kelly will discuss the future of commerce and payments at the conference alongside Karen Katz, president and CEO, The Neiman Marcus Group, Inc. and Jon Fortt, co-anchor of CNBC’s “Squawk Alley” on Tuesday, January 16 from 10:30-11:15 am ET. Additionally, Matt Smith, vice president of Visa’s Platform Strategy will be hosting a panel of retailers directly after the keynote on the Innovation Lab Stage with Chris Plunkett (CMT Group) at 11:30 a.m. ET.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/aboutvisavisacorporate.tumblr.com and @VisaNews.

1 Nilson Report #1114, July 2017
2 IPG Lab 2017

Media Contacts:
Visa Inc.
Kryssa Guntrum
415-805-4488
kguntrum@visa.com

Source: Visa Inc.

Neiman Marcus Group announces the retirement of President and CEO Karen Katz; Geoffroy van Raemdonck to succeed

LUXURY FASHION AND RETAIL VETERAN GEOFFROY VAN RAEMDONCK APPOINTED NEW CEO OF NEIMAN MARCUS GROUP; KAREN KATZ TO RETIRE AND REMAIN ON BOARD OF DIRECTORS

DALLAS, Texas, 2018-Jan-10 — /EPR Retail News/ — Neiman Marcus Group (Neiman Marcus), the leading luxury fashion retailer, today ( January 5, 2018) announced the retirement of Karen Katz from the role of President and Chief Executive Officer, effective February 12, 2018. Luxury fashion and retail veteran Geoffroy van Raemdonck has been appointed to succeed Katz as the Company’s new Chief Executive Officer. Katz will continue to serve on the Company’s Board of Directors and will work closely with van Raemdonck to facilitate a seamless transition process. The appointment is part of a long-term leadership succession planning process to ensure continued growth and evolution of the Company.

“As CEO, Karen helped establish Neiman Marcus as a digital leader in luxury fashion and retail and put the Company on a path for long-term growth. We are extremely grateful for her vision and significant contributions, which have spanned over 30 years at the Company, including the last seven as CEO, and look forward to continuing our work together on the Board,” said David Kaplan, Chairman of the Board.

Kaplan continued: “We are thrilled to welcome Geoffroy to Neiman Marcus and look forward to extending the Company’s positive momentum under his leadership. He is a global industry leader and business builder with exceptional vision and energy. The entire board is confident that Geoffroy’s
leadership will add significant value to the Company, our partners and our customers.”

Katz introduced Neiman Marcus to new customers and deepened relationships with the Company’s core shopper, while establishing Neiman Marcus as the leader in luxury online retail. She led the implementation of the Company’s Digital First strategy, which continues to drive growth. Currently, the Company’s online business represents more than 30% of total revenues. Most recently, investments made in new technologies and marketing tools drove a marked improvement in the first fiscal quarter of 2018, with comparable sales rising for the first time in more than two years.

“It has been a unique privilege serving as CEO, and I am proud of the substantial progress and success our team has achieved,” Katz said. “Geoffroy has an impressive track record of success at luxury brands, and he is the right person to lead the Company through this next phase of growth.”

“Neiman Marcus manages one of the most iconic brand portfolios in fashion retailing, and I am excited to build on the great foundation Karen created during her tenure,” said van Raemdonck. “I look forward to working closely with the leadership team, the Company’s 14,000 employees globally and our luxury brand partners as we continue to innovate and engage our loyal customers in new ways.”

Prior to Neiman Marcus, van Raemdonck served as Group President for EMEA and Global Travel Retail at Ralph Lauren, where he led the transformation of all Ralph Lauren brands across full and off-price stores, wholesale and digital. His accomplishments include delivering strong double-digit profit growth over multiple years, expanding gross margin and increasing distribution quality. Previously, van Raemdonck served as CEO at St. John Knits International, Inc., where he launched a turnaround of the American luxury house leading to significant performance improvements. Prior to that, he held a variety of global leadership roles at Louis Vuitton from 2008 to 2013 and was most recently President South Europe where he elevated brand perception and consumer experience in 22 countries and led a team of 1,200 employees across retail, marketing, PR, merchandising, supply chain, finance and HR. Earlier in his career, van Raemdonck held executive leadership positions at L Brands, Inc. He began his career at Boston Consulting Group, where he spent nearly a decade developing and implementing growth strategies on behalf of consumer and brand-driven clients. He holds an MBA from the University of Chicago, and a Master of Business and Sciences from the Université catholique de Louvain in Belgium.

About Neiman Marcus Group:
Neiman Marcus Group LTD LLC is a luxury, multi-branded, omni-channel fashion retailer conducting integrated store and online operations under the Neiman Marcus, Bergdorf Goodman, Last Call, Horchow, CUSP, and mytheresa brand names.

For more information, visit www.neimanmarcusgroup.com.

Contact:
Mimi Crume Sterling
Vice President, Corporate Communications & Public Relations
Neiman Marcus
mimi_sterling@neimanmarcus.com

Source: Neiman Marcus Group

HSNi CEO Mindy Grossman elected chairman of the NRF Board of Directors

NEW YORK, 2017-Jan-19 — /EPR Retail News/ — The National Retail Federation today (January 17, 2017) announced that HSNi CEO Mindy Grossman has been elected chairman of the NRF Board of Directors, succeeding Kip Tindell, co-founder and chairman of The Container Store. In addition, eight new members have been elected to the board, and Neiman Marcus Group President and CEO Karen Katz has been named chair of the NRF Foundation.

“As the leader of a company that has pioneered the new frontiers of retail, Mindy Grossman represents the future of our industry but also understands and values its roots,” NRF President and CEO Matthew Shay said. “Along with our new board members, she is the right leader at the right time as retail continues to evolve, innovate and meet new challenges both in the business world and the public policy arena.”

“Retail has always been a rapidly evolving business and that has never been more true than today,” Grossman said. “NRF is a vital organization for tapping into the best and brightest ideas and then disseminating that thought leadership throughout the industry. These are exciting times to be in retail and I look forward to serving the industry in this new role.”

Grossman, who will serve a two-year-term, was elected as the board held its annual winter meeting in New York on Sunday as part of Retail’s BIG Show. Katz, who will also serve for two years, will succeed Grossman as vice chair of the NRF board in addition to chairing the Foundation.

“Karen Katz has a deep commitment to the mission of the NRF Foundation and its focus on retail careers,” Shay said. “Her leadership will be a vital factor as the foundation works to shine a spotlight on the wide range of exciting professional careers available in retail and to prepare young people to enter this dynamic industry.”

“Retail is one of the best places to work whether you’re looking for a part-time job or a lifelong career,” Katz said. “The NRF Foundation is working hard to make sure everyone from college students to Congress knows about the range of opportunities available in our industry and I’m excited to be a part of that.”

New members of the board include:

  • North Carolina Retail Merchants Association President and CEO Andy Ellen
  • eBags Co-Founder and Executive Vice President Peter Cobb
  • Westfield Retail Solutions President Don Kingsborough
  • Google Inc. Vice President of U.S. Sales John McAteer
  • IBM Vice President and General Manager-Global Consumer Industry Steve Laughlin
  • Ashley Stewart Inc. Executive Chairman and CEO James Rhee
  • Deloitte Consulting LLP Vice Chairman-U.S. Retail and Distribution Leader Rodney Sides
  • Sephora Americas President and CEO Calvin McDonald

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF.com

Contact:
Treacy Reynolds
press@nrf.com
(855) NRF-Press

Source: NRF

Neiman Marcus Group appoints Michael Fung as Interim CFO and COO

DALLAS, TX, 2016-Nov-29 — /EPR Retail News/ — Neiman Marcus Group (NMG) announces effective November 28, 2016 Michael Fung will serve as Interim Chief Financial Officer and Chief Operating Officer of Neiman Marcus Group. This position was previously held by Donald T. Grimes.

Most recently, Mr. Fung served as Interim Chief Financial Officer and Treasurer for 99 Cents Only Stores and currently serves on its board. Prior to that, Michael spent 11 years at Wal-Mart Stores Inc., retiring in 2012. During his tenure, he served as Chief Financial Officer for Walmart U.S and SVP, Global Procurement and Internal Audit. He was responsible for implementing Walmart’s financial and procurement system, SAP.

“Michael is an excellent choice to serve as our interim Chief Financial Officer and Chief Operating Officer,” said Karen Katz, President and Chief Executive Officer, Neiman Marcus Group. “He is an accomplished leader who brings extensive experience in corporate finance, strategy, financial planning and analysis, logistics and operations to NMG.”

Earlier in his career, he held leadership and executive-level positions at Sensient Technologies, Vanstar Corporation, Bass Pros Shops, Beatrice Companies, and Deloitte & Touche.

Michael Fung brings nearly 40 years of experience to NMG. He currently serves on the Board of Directors for FranklinCovey, Salt Lake City and 99 Cents Only Stores in Los Angeles. Mr. Fung chairs the Audit Committee for both FranklinCovey and 99 Cents Only Stores and also serves on the Compensation Committee and the Nominating and Governance Committee at FranklinCovey. He is a board member and Chair of the Asian Pacific Islander American Scholarship Fund.

Fung received a Masters of Business Administration from the University of Chicago’s Booth School of Business, and a Bachelor of Science in Accounting from the University of Illinois at Chicago.

About Neiman Marcus Group:

Neiman Marcus Group LTD LLC is a luxury, multi-branded, omni-channel fashion retailer conducting integrated store and online operations under the Neiman Marcus, Bergdorf Goodman, Last Call, Horchow, CUSP, and mytheresa brand names. For more information, visit www.neimanmarcusgroup.com.

Contact:

Mimi Sterling
Neiman Marcus Group
Mimi_sterling@neimanmarcus.com
214-573-5682

Source: Neiman Marcus Group

Donald T. Grimes joins Neiman Marcus Group as Executive VP, COO and Chief Financial Officer

DALLAS, Texas, 2015-6-2 — /EPR Retail News/ — Karen Katz, President and Chief Executive Officer of Neiman Marcus Group LTD LLC announced today that, effective June 15, 2015, Donald T. Grimes will be joining the company as Executive Vice President, Chief Operating Officer and Chief Financial Officer. Mr. Grimes will succeed Jim Skinner, who will continue to be part of the company’s management team in the newly created role of Vice Chairman, Neiman Marcus Group.

Mr. Grimes, 52, joins Neiman Marcus Group from Wolverine World Wide, Inc. (NYSE:WWW) where he was Senior Vice President, Chief Financial Officer and Treasurer for the global branded footwear and apparel corporation. Prior to Wolverine, Mr. Grimes held leadership and executive level positions at Keystone Automotive Operations and Brown-Forman Corporation. He started his career with Coopers & Lybrand.

“Don is an excellent choice to serve as our new Chief Operating Officer and Chief Financial Officer, “ said Karen Katz, “ He brings impressive and extensive leadership experience in operations, strategy and corporate finance, including M&A and international. Along with his vast experience, keen intelligence and ability to produce results, Don brings a balance of pragmatism and creativity — essential qualities for transforming our business and envisioning its future. He will be a great addition and complement to an already accomplished NMG management team.”

Mr. Grimes will be responsible for finance, accounting, investor relations, tax, legal, distribution and fulfilment, and properties.

About Neiman Marcus Group: 
Neiman Marcus Group LTD LLC is a luxury, multi-branded, omni-channel fashion retailer conducting integrated store and online operations under the Neiman Marcus, Bergdorf Goodman, Last Call, Horchow, CUSP, and mytheresa brand names. For more information, visit www.neimanmarcusgroup.com.

From time to time, the Company may make statements that predict or forecast future events or results, depend on future events for their accuracy or otherwise contain “forward-looking information.” These statements are made based on management’s expectations and beliefs concerning future events and are not guarantees of future performance.

The Company cautions readers that actual results may differ materially as a result of various factors, some of which are beyond its control, including but not limited to: political or economic conditions; terrorist activities in the United States and elsewhere; disruptions in business at the Company’s stores, distribution centers or offices; changes in consumer confidence resulting in a reduction of discretionary spending on goods; changes in demographic or retail environments; changes in consumer preferences or fashion trends; competitive responses to the Company’s marketing, merchandising and promotional efforts; changes in the Company’s relationships with key customers; delays in the receipt of merchandise; seasonality of the retail business; adverse weather conditions, particularly during peak selling seasons; delays in anticipated store openings or renovations; natural disasters; significant increases in paper, printing and postage costs; litigation that may have an adverse effect on the Company’s financial results or reputation; changes in the Company’s relationships with designers, vendors and other sources of merchandise; the Company’s success in enforcing its intellectual property rights; the effects of incurring a substantial amount of indebtedness under the Company’s senior secured credit facilities, senior notes and senior subordinated notes and of complying with the related covenants and conditions; the financial viability of the Company’s designers, vendors and other sources of merchandise; the design and implementation of new information systems or enhancement of existing systems; changes in foreign currency exchange rates or inflation rates; impact of funding requirements related to the Company’s noncontributory defined benefit pension plan; changes in the Company’s relationships with certain of key sales associates; changes in key management personnel; changes in the Company’s proprietary credit card arrangement that adversely impact its ability to provide consumer credit; or changes in government or regulatory requirements increasing the Company’s cost of operations.

These and other factors that may adversely effect the Company’s future performance or financial condition are contained in its Annual Report in Form 10-K and other reports filed with and available from the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

###

Ginger Reeder
Vice-President, Corporate
Communications
Neiman Marcus Group
214.573.5822