Finance & Capital Management

Kip Tindell, co-founder, chairman and CEO of The Container Store, has joined a global list of who’s who in retailing.

Foster City, Calif. – Financial services provider Visa Inc. is among the lead investors in a $30 million round of equity funding for a blockchain technology provider.

Crocs Inc. has a new interim finance chief after its CFO resigned to take the same position at West Marine.

Jeff Lasher, who joined Crocs in 2009 and was named chief financial officer in 2011, will remain with the company through early November. Lasher plans to join West Marine, Inc. as chief financial officer in November.

Arlington, Va. -- A report says that only one in five debit and credit cards are ready for the EMV shift.

As retailers spend billions to upgrade their point of sale terminals to accept new chip cards before the Oct. 1 liability shift deadline, the nation’s largest card network acknowledged that a staggering number of magnetic “swipe” cards have not been replaced with new cards.

Lynnwood, Wash. -- It was tough going for Zumiez Inc. in the second quarter as its profit fell 57% amid increased promotional activity.

The skate and surf apparel retailer reported net income of $3.2 million in the quarter, compared to net income of $7.5 million in the year-ago period. The results included include costs of approximately $0.4 million, for charges associated with the acquisition of Blue Tomato.

Total net sales for the quarter increased 1.8% to $179.8 million, from $176.7 million a year ago.

Dallas -- Corner Bakery Café is expanding in Pennsylvania with the addition of eight stores throughout northern Pittsburgh. A group of franchisees with extensive real estate and retail experience is opening the new stores.

Corner Bakery Café is also targeting southern Pittsburgh for franchise growth. The retailer has more than 190 company-owned and franchise stores currently open, and franchise agreements representing commitments for 398 units.
 

Markdowns and the costs of expansion hurt Lululemon profits in the second quarter, but the athleisure retailer did post an impressive jump in same store sales.

Cincinnati — Kroger on Thursday announced the appointment of four executive VPs to lead key lines of business.