Finance & Capital Management

New York -- Online discount retailer Overstock.com plans to let shoppers pay with the digital currency Bitcoin starting in June, according to The New York Times.

The report said the retailer is reviewing several third-party firms that facilitate Bitcoin transactions, and that it hopes to have one place by mid-January.

If the plan is carried out, Overstock will be the most prominent retailer to accept Bitcoin as a form of payment.

Los Angeles – Newegg has filed an opposition to Soverain Software's petition for the Supreme Court to review a January 2013 ruling by the Federal Court of Appeals in the Eastern District of Texas that found Newegg and other e-commerce retailers did not violate a patent on e-commerce shopping cart technology held by Soverain. In district court actions in the Eastern District of Texas, Soverain had obtained settlements and won jury verdicts estimated at more than $70 million.

Dallas – Michaels Stores Inc., which has been privately held since 2006, is planning to launch an IPO in 2014. According to a regulatory filing with the Securities and Exchange Commission (SEC), private equity owners Bain Capital Partners and Blackstone Group will retain control of the retailer after the public stock sale.

Deerfield Park, Ill. – Walgreens received a perfect score of 100% on the 2014 Corporate Equality Index (CEI). This marks the ninth year Walgreens earned 100% on the CEI, a national benchmarking survey and report on corporate policies and practices related to LGBT workplace equality, administered by the Human Rights Campaign Foundation.

New York -- The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.8% in November to 98.3 (2004 = 100), following a 0.1% increase in October, and a 1% increase in September.

New York -- Weekly sales rose by 1.4% for the week ending Dec. 21, 2013. According to figures from the International Council of Shopping Centers (ICSC) and the Goldman Sachs Weekly Chain Store Sales Index, on a year-over-year basis, the pace of sales also improved and grew by 2.7%.

For December, ICSC Research expects monthly sales will increase between 3% and 4% as the promotional environment continues to be intense.

Washington, D.C. -- Sen. Robert Menendez (D-N.J.) reportedly may seek federal hearings on the recent data breach at Target. According to the Associated Press, Menendez said in a press conference held outside a Jersey City, N.J. Target store that he has also requested the Federal Trade Commission (FTC) to investigate whether it can levy fines against Target and whether laws protecting sensitive consumer data need to be strengthened.

Columbus, Ohio – Kroger reportedly recent spent $9 million on renovating a store in the Columbus, Ohio, area, and plans to spend another $9.4 million renovating three other stores in the area of its headquarters city. According to the Columbus Dispatch, this spending is part of a larger $330 million the retailer plans to spend on renovations by the end of the current fiscal year.

SED International Holdings chairman Sham Gad has assumed the role of CEO at the troubled supply chain management provider and distributor of consumer electronics and small appliances.

Gad fills a role previously held by Mike Hagan who was appointed to the position on an interim basis in October following the resignation of former CEO Robert O’Malley.

New York – Amazon.com and Macy’s reportedly look financially strong even in the wake of expected post-holiday discounting, while Sears, Kmart and J.C. Penney are not expected to be so fortunate. According to new analysis from 24/7 Wall St., Amazon.com should hold onto substantial holiday profits as long as free shipping does not impact its margins.