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Stiffed Vendors Get Tough With U.S. Retailers After Big Losses By Lauren Coleman-Lochner and Eliza Ronalds-Hannon | May 4, 2021
As U.S. retailers celebrate a boom lifting one of the pandemic’s hardest-hit sectors, scars left by a year of bankruptcies and delayed vendor payments could threaten to undermine their recovery just as the crucial back-to-school shopping season begins.
After watching their receivables mount last year, vendors of apparel and other goods demanded change. In order to ship, many began requiring payment upon delivery of the goods or even in advance, according to people with knowledge of the demands, which were made of distressed and healthy clients alike. For merchants, that’s a big cash drain at a time of great uncertainty.
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Manchester, NH, March 09, 2021 (GLOBE NEWSWIRE) via
NewMediaWire Zoom Telephonics, Inc., doing business as
Minim (OTCQB:MINM) today reported fourth quarter and full year preliminary financial results for the period ended December 31, 2020. Q4 2020 highlights include:
Record net revenue of $13.7 million and record revenue growth of 30% year over year, and a 14% increase sequentially from Q3 2020.
Continued gross margin improvement at 33%, 25% higher year over year and 16% improvement sequentially from Q3 2020.
Successful launch of high-value, software-enabled Motorola®-branded modem to Amazon and Target.
Closed merger between Zoom Telephonics, Inc. and Minim Inc. combined company offers intelligent software and powerful software-enabled hardware focused on a rapidly growing market, led by a proven team.