Corporate Governance

Various technology analysts, retail industry pundits, and economists of all stripes, have long predicted the demise of paper and coin currency along with the dawn of a cashless society.

And it is true that over the last few years, we’ve seen a big acceleration in the drive towards large-scale consumer adoption of new digital payments technologies, especially in the mobile category.

With rival AutoZone continuing to produce record results, Pep Boys' financial performance is headed in the opposite direction as uncertainty looms over who will acquire the company.

Pep Boys reported a 1.8% decrease in same store sales for the period ended Oct. 31. Net sales decreased by $9.4 million, or 1.8%, to $508.1 million from $517.6 million in the prior year. Net earnings were $1.3 million or 2 cents per share as compared to a net loss of $2 million in the prior year.

[Editor's note: This article is based on a discussion moderated by Shah Karim with Myron E. Ullman, executive chairman of J.C. Penney, held at the Executive + Scholar lecture at the University of North Texas on October 8, 2015.]

The man who built a retail empire by inspiring a generation of shoppers to stock their kitchens with garlic presses and soufflé pans has died.

Charles E. “Chuck” Williams, founder and director emeritus of Williams-Sonoma Inc., died of natural causes over the weekend, the company announced. He was 100 years old.

Walmart is the only chain retailer to fully meet a goal it made related to an initiative of opening stores in “food deserts,” the Associated Press reported. [Associated Press]

Nordstrom continues to invest in new shopping models with the announcement that it is expanding its partnership with Shoes of Prey, a start-up that enables women to customize shoes online.

Activist investor Carl Icahn has offered to buy Pep Boys-Manny, Moe & Jack in a deal valuing the U.S. auto parts retailer at about $837 million, trumping Bridgestone's offer of $810 million in October.