Block, Inc. - SQ STOCK NEWS

Square has entered a groundbreaking 10-year partnership as the exclusive POS, payments, and software provider for SoFi Stadium and Hollywood Park, enhancing fan experiences with seamless commerce. This fully cashless venue will utilize Square’s ecosystem, including over 1,000 hardware units for efficient transactions. The collaboration aims to optimize operational insights and improve customer engagement through integrated solutions. Square's commitment to innovation will help meet the evolving needs of the sports and entertainment industry.

Square launches Square Register in Canada, catering to a surge in demand for cashless, socially-distanced shopping post-pandemic. A recent survey reveals 80% of Canadians prioritize buying local, with 72% feeling more comfortable with cashless transactions. Square Register is designed for larger businesses, featuring dedicated screens for sellers and buyers, aimed at ensuring a safe shopping experience from up to two meters apart. The device retails at $899, with no hidden fees and a 2-year warranty, enabling efficient management of online and in-person sales.

Square's recent survey reveals a surge in demand for personal care services among Canadians post-lockdown, with 45% prioritizing haircuts. The beauty industry is witnessing a 120% year-over-year increase in bookings as salons and spas reopen. Square has launched new tools like Square Appointments to aid recovery and streamline operations for beauty professionals. The platform now offers enhanced features, including customizable booking websites, commission structures, and contract management to support businesses.

Square (NYSE: SQ) has entered a Scheme Implementation Deed to acquire Afterpay (ASX: APT) for approximately US$29 billion (A$39 billion), using an all-stock transaction. This acquisition aims to enhance Square's Cash App and Seller ecosystems, facilitating access to financial products and expanding merchant revenue opportunities. Afterpay, a global leader in 'buy now, pay later' services, serves over 16 million consumers and nearly 100,000 merchants. The transaction is expected to close in Q1 2022, pending regulatory approvals and shareholder consent.

Square, Inc. (NYSE: SQ) has released its second-quarter 2021 financial results, available on its Investor Relations website. The company will file these results with the SEC on August 2, 2021. Additionally, Square has canceled its earnings call initially scheduled for August 5 and will instead discuss the financial results at 5:00 a.m. Pacific time on August 2. Square's services empower businesses and individuals in the economy, with tools for online sales, business management, and financing.

Square has launched Square Banking, a suite of financial products aimed at assisting small business owners in managing their cash flow. The offering includes Square Savings, Square Checking, and Square Loans. Square Savings features automated savings with customizable folders and a 0.5% APY, while Square Checking allows instant access to funds with no fees. Square Loans, which has facilitated over $9 billion in loans, provides personalized financing based on sales, not credit history. This initiative aims to enhance access to banking services for underbanked small businesses.

Square (NYSE: SQ) has acquired Crew, a platform designed for frontline employees, enhancing its labor management tools. This acquisition aims to streamline communication for hourly workforces, which represent over half of U.S. wage workers. With Crew, Square will strengthen its messaging and operational capabilities, providing a cohesive solution for scheduling and team management. Square's General Manager emphasized this move as a commitment to help sellers manage their workforce efficiently as they grow their businesses. The integration is expected to improve employee experiences within Square's ecosystem.

Square is set to disclose its financial results for Q2 2021 on August 5, 2021, after market close. A conference call and earnings webcast will follow at 2:00 p.m. PT/5:00 p.m. ET. Interested participants can register via Square's Investor Relations website. Square, traded under the symbol SQ, provides tools for businesses and individuals, enabling online and in-person transactions, financial management, and investment through Cash App. The company operates globally with offices in multiple countries.

The beauty industry is recovering strongly post-COVID, with gross payment volumes and appointment bookings exceeding pre-pandemic levels. Square reports an 81% increase in completed reservations compared to pre-pandemic figures, alongside a 121% year-over-year growth in gross payment volume. Hiring is also rebounding, with a 34% year-over-year increase in employees per business. New trends, such as body contouring and eyelash extensions, saw significant demand rise. Square Appointments facilitated this recovery, achieving its 200 millionth booking in the first half of 2021.