Finance & Capital Management

Ann Arbor, Mich. -- Borders Group on Thursday won court approval to liquidate its remaining 399 stores, even as it negotiates to sell up to 35 stores to Books-a-Million.

"This is a bittersweet day," said U.S. Bankruptcy Judge Martin Glenn before a packed courtroom. "There are a lot of sad people around the country, a lot of sad people in the corporate headquarters. But there has been a late-breaking development."

SAN JOSE, Calif. — eBay reported that revenue for the second quarter ended June 30, increased 25% to $2.8 billion, compared with the same period of 2010. The company recorded second quarter net income on a GAAP basis of $283.4 million, or 22 cents per diluted share, and non-GAAP net income of $630.9 million, or 48 cents per diluted share.

The company reported that its PayPal business' net total payment volume grew 34% to $28.7 billion in the second quarter of 2011 compared to the same period of last year.

Naperville Ill. -- OfficeMax announced Thursday that Steve Parsons has been named executive VP and chief human resources officer for the office supply chain, effective July 25.

Parsons will report to Ravi Saligram, president and CEO, and will be responsible for all aspects of global human resources for the company, including talent management, compensation and benefits, training, leadership development, recruitment, diversity, and internal and corporate communications.

Most recently, Parsons was senior VP human resources at Rite Aid Corp.

Pleasanton, Calif. -- Safeway reported Thursday that net income for the second quarter rose to $145.8 million from $141.3 million in the year-ago period, helped by rising prices and gas sales.

Total sales increased 7.1% to $10.2 billion from $9.5 billion.

New York City -- A Bloomberg report on Thursday said that consumer confidence stagnated last week, as the Bloomberg Consumer Comfort Index was minus 43.3 in the period to July 17, the highest since April, compared with minus 43.9 the prior week.

The monthly gauge of the economic outlook improved from a two-year low, according to the report.

BRENTWOOD, Tenn. — Tractor Supply Company continues to operate in a fertile market segment that enabled the nation’s largest farm and ranch store chain to harvest record profits during the second quarter.

By Adam Siegel, VP sustainability, RILA

Chicago -- A report released Thursday by ShopperTrak found that retailers should expect fewer shoppers this back-to-school season, but average tickets are anticipated to be larger.

According to ShopperTrak, national retail sales, when compared with the same period last year, will rise 3.8% in August, while foot traffic will decrease 2.9%.