Strategy

New York -- PayPal has confirmed partnership with 15 national retailers, including J.C. Penney, American Eagle Outfitters, Toys “R” Us and Foot Locker, for its mobile wallet service.

The other new retailers accepting PayPay’s payment service are Barnes & Noble, Office Depot, American Eagle Outfitters, Abercrombie & Fitch, Rooms To Go, Jos. A. Bank , Aeropostale , Foot Locker , Nine West, Jamba Juice , Guitar Center, TigerDirect and Advance Auto Parts .

Rochell Park, N.J. -- Avenue Stores announced it has begun the process to close 96 stores over the next three months. The company previously announced plans to selectively close and consolidate stores in order to finalize a geographic footprint that maximizes profitability and sales growth potential.

Upon completion of the closures, the company will continue to operate more than 300 stores in 34 states, and offer online shopping,

LOS ANGELES — The Los Angeles City Council voted 13-1 to ban plastic bags at supermarket checkouts, becoming the largest city in the nation to approve such a law.

The council voted to phase out plastic bags during the next 16 months at an estimated 7,500 stores, meaning shoppers will need to bring reusable bags or purchase paper bags for 10 cents each.

Austin, Texas -- Whole Foods Market has named Scott Allshouse, Omar Gaye and Rob Twyman as regional presidents following the promotion of David Lannon and Kenneth Meyer to executive VPs of operations.

Allshouse fills Meyer's former role as president of the company's Mid-Atlantic Region. He moves from his position as president of the South Region.

Gaye takes the South Region president position vacated by Allshouse, moving from his position as the South Region's VP.

DALLAS — Neiman Marcus reported total revenues of $1.06 billion for the third quarter compared with $983.8 million in the prior year. Comparable revenues increased 6.7%. Operating earnings for the third quarter of fiscal year 2012 were $146.6 million compared with $123.2 million for the third quarter of fiscal year 2011, an increase of 19%.

The company reported net earnings of $62.6 million for the third quarter compared with $46.2 million in the prior year, an increase of 35%.

Armonk, N.Y. -- IBM announced it has completed the acquisition of Vivisimo, a leading provider of federated discovery and navigation software that helps organizations access and analyze big data. Financial terms will not be disclosed.

CAMP HILL, Pa. — Rite Aid has appointed president and CEO John Standley as chairman, the retail pharmacy chain said Friday.

Rite Aid announced that its board of directors had elected Standley to replace current chairman Mary Sammons, effective June 21. Sammons has served as chairman since June 2007 and plans to step down at the company's annual stockholder meeting.

New York -- Rite Aid has appointed president and CEO John Standley as chairman, the retail pharmacy chain said Friday.

Rite Aid announced that its board of directors had elected Standley to replace current chairman Mary Sammons, effective June 21. Sammons has served as chairman since June 2007 and plans to step down at the company's annual stockholder meeting.