Finance & Capital Management

Washington, D.C. -- U.S. retail e-commerce sales for second quarter 2013, adjusted for seasonal variation, but not for price changes, totaled $64.8 billion, an increase of 4.9% from first quarter 2013. According to estimates from the U.S. Census Bureau, this figure represented an 18.4% jump from U.S. commerce sales in second quarter 2012.

E-commerce sales in the second quarter of 2013 accounted for 5.8% of total U.S. retail sales of close to $1.13 trillion. Total retail sales grew 0.9% quarter-over-quarter and 4.7% year-over-year.

MEMPHIS, Tenn. — Terminix has entered the Canadian pest control market with the acquisition of substantially all the assets of Toronto-based Magical Pest Control. It is the first Canadian asset acquisition for the company.

Founded in 1997, Magical Pest Control is one of the largest pest control companies in Ontario. It specializes in commercial accounts and the property management sector, while also treating residential customers. The Toronto company, headed by president Mark Joseph, served customers throughout Ontario and eastern Canada.

New York -- J. C. Penney disclosed in a Securities and Exchange Commission filing on Friday that it entered into a Registration Rights Agreement with Bill Ackman’s Pershing Square and its affiliates that gives him an out to completely walk away from the company. Under the deal, Ackman can make up to four requests to Penney to register the sale of his restricted common stock.

"It is paving the way for (Pershing Square) to sell the stock if they choose to do so," Imperial Capital analyst Mary Ross Gilbert said in a Reuters report.

LAS VEGAS — SMTP, Inc., a global provider of email delivery services, has appointed Jon Strimling as CEO of the company.

"Jon is a proven executive and entrepreneur, with a track record of driving revenue and earnings growth," stated Semyon Dukach, chairman of SMTP. "His deep experience in operations, marketing and e-commerce will prove invaluable as he leads SMTP through its next phase of growth."

While second quarter sales were less than expected, one area where Walmart exceeded plan was expenses incurred related to Foreign Corrupt Practices Act and compliance matters.

The company said it spent $82 million on efforts in those areas compared to the $65 million to $70 million it though it would spend at the start of the year. Expenses during the first half of the year totaled $155 million.

Vancouver-based Versatile Systems announced that Robert Joyce has resigned as a director and officer of Versatile and all its subsidiary companies. Joyce will continue working with the company as a consultant, and will assist in the management transition process.

Versatile also appointed Kenneth Kahn as president of Versatile Systems Inc. and its subsidiaries. Kahn was most recently EVP and global brand officer for Mood Media.

PITTSBURGH — The PNC Financial Services Group has appointed Andrew Feldstein to its board of directors. Feldstein is co-founder, CEO and chief investment officer of BlueMountain Capital Management, LLC.

"Mr. Feldstein brings a reputation for innovation and additional risk management expertise to the board," said PNC executive chairman James E. Rohr. "His vision and experience should benefit PNC as we seek to grow our business and further strengthen our balance sheet."