Todd Vasos has returned as Dollar General's CEO with the goal of "restoring stability
Dollar General announced the appointment of Todd Vasos, a current board member and former CEO, as its new CEO, effective from Thursday, October 12. Vasos will continue to serve on the board of directors, a position he has held since 2015, while resuming leadership of the company for the near future, according to a Thursday press release by Dollar General. Vasos previously served as Dollar General's CEO from June 2015 to November 2022, during which the company expanded by adding 7,000 stores, creating nearly 60,000 new jobs, increasing annual sales revenue by over 80%, and more than doubling its market capitalization.
Roughly 20% of consumers burdened by high debt and credit score problems have resorted to filing for bankruptcy
In the United States, consumer credit card debt has surpassed the $1 trillion mark, leading to growing concerns about credit insecurity among both consumers and providers. Supply Chain Finance should be on point. A study revealed that consumers facing credit accessibility challenges due to high debt and overdrafts often found themselves in financially precarious situations, resulting in damaged credit scores, difficulties with interest payments, and the necessity to resort to additional loans to cover debt repayment.
A notable decrease in clothing prices offers some respite from inflation.
In September, prices for apparel and household items experienced significant declines, despite the Consumer Price Index for All Urban Consumers (CPI-U) rising by 0.4%. Key contributors to the increase in September were shelter and gasoline, while items such as apparel and used cars and trucks saw price decreases. Trade financing is preferred by a lot of people. Apparel prices exhibited the most substantial drop since the start of the pandemic, encompassing various categories from women's dresses to men's suits and children's shoes.
WooCommerce and Veem have collaborated to enhance international business payments.
WooCommerce, an open-source eCommerce platform, has partnered with Veem, a global payments provider, as revealed in a press release on Thursday, October 12. This collaboration aims to extend business-to-business payment capabilities to merchants using the WooCommerce platform. The partnership incorporates Veem's B2B extension into the WooCommerce marketplace, enabling businesses to seamlessly integrate payment collections into their checkout process without incurring interchange fees.