Finance & Capital Management

Atlanta -- A report released Tuesday by First Data Corp. found that dollar volume growth rebounded in January, improving to 6.2% versus 4% in December despite the payroll tax increase.

The First Data SpendTrend report, which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, found that improved retail spending was a large contributor to the January growth.   

Chicago -- A new Symphony Consulting survey found that the new 2% increase in payroll tax is causing a major shopping behavioral change among lower-income families.

A division of SymphonyIRI Group, Symphony Consulting revealed Monday that dollar stores may be the biggest winners in the battle for the lower-income spenders’ purchasing power.

Salt Lake City -- Overstock.com said Tuesday that chairman and CEO Patrick Byrne will take a leave of absence for medical reasons. Company president Jonathan Johnson will assume Byrne’s CEO duties during the leave, although Byrne will remain chairman of the board.

Byrne, in recent years, had undergone various procedures regarding cardiac issues that may stem from his earlier episodes of cancer, and his leave of absence is associated with these cardiac issues.

New York -- A&G Realty Partners said Tuesday it has been retained by Bakers Footwear Group Inc. to handle the liquidation of its remaining 56 mall stores.

According to A&G, an auction for the store leases is slated for Feb. 18, with a deadline to submit bids to A&G Realty by Feb. 21.

Naperville, Ill. -- OfficeMax has received approximately $129 million in cash proceeds related to its October 2004 investment in Boise Cascade Holdings, LLC. Since 2004, OfficeMax has held two classes of securities in BCH, non-voting equity securities ("Series A Units") and voting equity securities ("Series B Units").

The leading online source for auto repair information has received additional funding and deepened its relationship with Cars.com.

RepairPal, already a featured content partner on Cars.com's Web site, gives shoppers access to auto repair and maintenance estimates and advice for common problems from technicians which can result in a visit to a local auto parts retailer or a service department of a dealer or local repair shop.

Omaha, Neb. -- Apparel and home décor chain Gordmans announced Monday it has appointed Michael Morand as EVP and chief merchandising officer.

Morand has served as Gordmans' EVP planning, allocation and analysis since 2008. In his new position, he will lead the combined merchandising and planning team and drive the retailer’s continued expansion in both new and existing markets.

Purchase, N.Y. — MasterCard Advisors, a division of MasterCard, and analytics firm Mu Sigma announced a new partnership to develop analytic products toward solving business challenges such as acquiring customers and increasing customer loyalty.

As part of the partnership, MasterCard has acquired an equity stake in Mu Sigma. Additional terms of the deal were not disclosed.

Widespread reports have Walmart Foundation president Sylvia Mathews Burwell heading to Washington to serve as President Obama’s director of the Office of Management and Budget.

PARK CITY, Utah -- Skullcandy, a manufacturer of performance headphones, has named Rick Alden, the company's founder, former CEO and a current director, as Interim CEO. Jeremy Andrus has decided to step down from his positions as resident and CEO and a company director to join a private investment firm. He will serve as a consultant to the company over the next 12 months.