Corporate Governance

BitPay, a payment service provider (PSP) specializing in e-commerce, B2B and enterprise solutions for the bitcoin digital currency, has unveiled a new pricing plan that offers basic payment processing free, forever.

The company is hoping to leverage the pricing plan to woo businesses into accepting bitcoin for goods and services.

After a delay of several days, Lumber Liquidators has reported second-quarter results, nearly three weeks after the company revised its full-year guidance, which caused its stock to plummet in recent days.

Net sales for the quarter increased by 2.3%, totaling $263.1 million, compared with $257.1 million in the same quarter last year. But comparable-store sales decreased by 7.1%, with the average sale declining 1.8%. Net income was $16.6 million for the three months ended June 30, down 18.7% from last year's $20.4 million.

Big 5 Sporting Goods’ second-quarter results were affected by a continued reduction in demand for firearms and ammunition. The company also pointed to general softness in the overall consumer environment, adding that the calendar shift of the Easter holiday had a small but unfavorable impact on sales.

The retail industry is undergoing an unprecedented omnichannel transformation with an overwhelming majority of leading retailers aggressively reconfiguring supply chains to provide shoppers a seamless experience, according to a new study from Boston Retail Partners.
 
The omnichannel trend has been underway for many years now, but Boston Retail Partners indicates that more than 90% of retailers are pursuing omnichannel supply chain re-invention efforts the management consulting firm describes as “unified commerce.”
 

Crocs has appointed Claire Fahie-Conley, former VP of U.S. retail for Reebok, as its VP of retail for North America. Fahie-Conley will report directly to Greg Sullivan, GM for the Americas.

Fahie-Conley will be responsible for overseeing all aspects of the retail footprint in North America, including the entire fleet of full-price and outlet stores. She will be based out of the new Global Commercial Center in Boston, scheduled to open in late 2014.

NCR Corporation, a leading global consumer transaction technologies developer, has appointed Michael Bayer as SVP and president of the company’s retail solutions division. Bayer will report to NCR chairman and CEO Bill Nuti.

Same-store sales continue to decelerate at Whole Foods as the nation’s leading natural and organic grocer continues to face traffic and ticket pressures caused by upstart rivals and established competitors.

Leading women’s specialty apparel retailer Lane Bryant is kicking off football season with an exclusive NFL Capsule Collection.

The brand’s NFL Capsule Collection will feature several styles, including tank tops, scoop and V-neck tee shirts, and the teams include the Chicago Bears, Denver Broncos, Green Bay Packers, New England Patriots, New Orleans Saints, Philadelphia Eagles, Pittsburgh Steelers and San Francisco 49ers.

San Bruno, Calif. – WalmartLabs, the division of Wal-Mart’s e-commerce operation dedicated to developing new technology, has purchased Luvocracy, an online community that helps consumers find products recommended by family members, friends and online influencers. Founded three years ago, Luvocracy was one of the first companies to enable the entire social shopping experience, from discovery to commerce, to occur within its app.

Phoenix – Jana Partners, the largest shareholder in PetSmart by one million shares with a 9.9% disclosed ownership stake, is pressuring PetSmart to sell the company. In a letter to the PetSmart board of directors, Jana said it will seek to install new, pro-sale board members at the upcoming annual meeting if PetSmart does not start seeking a sale.