Finance & Capital Management

RESTON, Va. — U.S. online retail recorded its eleventh consecutive quarter of positive year-over-year growth and seventh consecutive quarter of double-digit growth, according to ComScore.

U.S. online retail spending reached $43.2 billion for the second quarter, up 15% over a year ago, according to ComScore.

Sharon, Pa. -- Casual-dining chain Quaker Steak & Lube said Monday it has opened its 50th restaurant in Lakewood, Ohio, and is on track to open 10 additional restaurants this year. The brand also will be expanding to six new markets with five franchise groups over the next several years.

"Over the past six months, we signed agreements to develop 11 new restaurants around the country, including three corporate locations in Texas," said John Longstreet, president and CEO.

Houston -- Stage Stores and Alliance Data Systems Corp. announced Monday they have forged private-label credit card renewal agreement.

Las Vegas -- Former Sports Authority chief David Campisi has been named chairman and CEO of Respect Your Universe, a performance apparel company.

Hoffman Estates, Ill. -- A report released Monday by the Associated Press said that Sears Holdings Corp. would be spinning off its Hometown and Outlet stores, along with some hardware stores, into a separate, publicly traded company.

Earlier this year, Sears had revealed it would split the companies but had not indicated the new organization would be a separate public entity.

There are approximately 1,238 Hometown, Outlet and hardware stores. Five Hometown stores have been closed, along with eight hardware stores and one Outlet unit.

City of Commerce, Calif. -- 99 Cents Only Stores said Monday it will convert 40 semi-trucks from diesel to clean-burning compressed natural gas (CNG).

This new fleet, according to the discounter, is the largest private Class-8 CNG trucking fleet in Southern California.

The move comes as part of 99 Cents Only’s plan to become a greener organization and ties in with the chain’s 30th anniversary since its debut in 1982.

Dubai, India -- A Monday report by Reuters said that French retailer Auchan has entered into a franchise agreement with Max Hypermarket, India.

Max operates 13 hypermarkets in India, which will be rebranded as Auchan stores in early 2013.

The pair said they plan to open 12-15 new stores annually across India. Because Max Hypermarket India Ltd is controlled by retail and hospitality company Landmark Group, which operates hypermarkets under the Max brand only in India and therefore is not restricted under foreign ownership regulations.

If JCPenney CEO Ron Johnson is concerned by a 21.7% second-quarter same-store sales decline and a worse-than-expected loss, it wasn't evident Friday morning.

The retailer said sales for the second quarter ended July 28 declined 22.6% to a little more than $3 billion, resulting in a $147 million loss, or 67 cents per share. After adjusting for $159 million in restructuring charges, the company reported a loss of $81 million, or 37 cents per share. The 21.7% comp decline follows a first-quarter decline of 18.9%.

Specialty retailer Express expects to have its first stores in Latin America open by year end.

New York -- Martha Stewart Living Omnimedia Inc. filed a notice of appeal in a lawsuit by Macy's Inc. in New York State Supreme Court in Manhattan, Bloomberg reported.

Macy’s sued Martha Stewart Living in January to stop the company from executing a sales agreement that it announced in December with J.C. Penney Company.  Macy’s said it had the exclusive right to sell Martha Stewart-branded products in certain categories.