After nearly 30 years in NZ longstanding loyalty scheme Flybuys will close at the end of the year.
Loyalty NZ (LNZ) – the organisation behind Flybuys – CEO Lizzy Ryley said the landscape for loyalty programmes had changed, and continued to change rapidly with businesses having greater access to technology and capabilities that enable them to create their own highly-tailored proprietary loyalty programmes.
"The Flybuys model of a services and retailer alliance has run its course," she said.
Members can continue to earn Flybuys until 11.59pm October 31 and will have until 11.59pm December 31 to redeem points.
Alongside Flybuys, LNZ would also close.
IAG NZ reported it plans to acquire some LNZ assets and make employment offers to about one-third of the 130 staff. IAG is a joint owner of LNZ alongside BNZ, Foodstuffs, and Z Energy.
Flybuys also operates in Australia where it is equally owned by retailers Coles and Wesfarmers through a joint venture.
Smith & Caughey's said on Thursday morning it was the target of a cyber-attack with the company's server and retail operations crypto-locked.
The news follows yesterday's proposal to shutter operations early next year.
The 144-year-old retailer was said to be facing "an unprecedented challenge" after a cyber-attack targeted its operational systems, the same day staff consultations began regarding potential closure.
Smith & Caughey’s chair Tony Caughey described it as a "live incident" and the company had activated a response plan and was working to restore the systems.
While Smith & Caughey’s website was open for online purchases, its Queen Street and Newmarket stores remained closed.
"The attack has severely impacted our ability to communicate with our staff, customers, suppliers and other critical stakeholders. We are trying to reach out to them to explain the situation and the reasons for the communication delays,” Caughey said.
Zespri has confirmed Jason Te Brake will take over the reins and step into the position of chief executive. Chief operating officer Te Brake has been with the company for nearly four years and previously held the role of chief global supply officer and head of NZ supply.
Zespri chair Nathan Flowerday said the recruitment process was very thorough with the search focusing on FMCG and primary sector leaders with Te Brake the strongest candidate.
"He is an outstanding executive with the strong commercial and stakeholder management experience we were looking for. He has a clear strategic vision to help Zespri and the industry achieve its immense potential and the operational expertise to deliver on that."
"My focus will be on capturing the significant demand opportunities in market, strengthening our supply chain, operational performance to maximise value in market, and on ensuring we return as much of that value back to growers," Te Brake said.
He will start as CEO on July 1.
Black Pearl Group’s annual net loss has improved from $7.2 million to $5.4m as the company’s annual recurring revenue ramped up 177% to $7.4m.
The NZX-listed software-as-a-service company’s new “Pearl Diver” product – launched 13 months ago – is now generating $4.9m in ARR, representing 67% of the total, according to unaudited annual statements released today.
It said the product’s growth underscored the effectiveness of its go-to-market strategy and commitment to serving the SME market in the US, which it expected to drive it towards a short-term target of $10m in ARR.
Its gross profit margin increased from 49% to 71% year-on-year, driven by the scalability of its platform and the higher margin of the Pearl Diver product.
The company noted the average ARR per customer for Pearl Diver was $9410 compared with $1934 for its Black Pearl Mail product.
Meanwhile, expenses increased 21% year-on-year, but declined as a percentage of revenue, to 130% in FY24 from 297% in FY23.