Financial/Banking

PayPal has revised its disclosure practices for material information in a way that could serve as a blueprint for retailers in the wake of a major insider trading bust that took down 32 hackers and brokers who allegedly reaped $100 million during a five year scheme to steal press releases.

In a week in which many of the nation's major department stores reported disappointing financial results, Nordstrom showed once again how to drive sales growth.

The Washington-based retailer reported that total sales rose 9.2% from the same quarter in 2014, while same store sales rose 4.9%. The company posted a profit of $211 million, or $1.09 a share, compared with $183 million, or 95 cents a share, a year earlier. Revenue, which includes revenue from its credit cards, rose 9% to $3.7 billion. 

New York -- Things are not getting any better at the struggling and cash-poor American Apparel. In fact, it looks like they are getting worse.

In a short form quarterly filing, the retailer said its net loss increased to $19.4 million in the second quarter from $16.2 million in the year-ago period while net sales fell 17% to $134 million. It estimated that, as of June 30, it had only $7 million in cash and $6 million left in its Capital One credit line. (American Apparel’s full quarterly filing will be delayed.)

The rise of e-commerce has made life increasingly difficult for shopkeepers of every size and shape. The continuing shift to online shopping, and the failure of many retailers to adapt, has pushed many retail chains into bankruptcy. Radio Shack, Wet Seal and Deb Shops are just a few once-popular merchants that have declared Chapter 11 in recent years.

Salt Lake City – Online discount retailer Overstock.com saw its second quarter profit diminished by expenses including technology spending, but still remains bullish on the upcoming release of its “cryptobond” financial encryption service.

Overstock reported net income of $1.7 million in the second quarter of fiscal 2015, down 10% from $1.9 million the same quarter a year earlier. Rising technology expenses, as well as increased expenses related to staffing and sales and marketing, drove the decrease in profit.

The shopping public's appetite for sexy underwear is apparently unsatiable, if the results from L Brands are any indication.

The former CEO of American Airlines has been named to the board of directors of Home Depot Inc.

Columbus, Ohio - L Brands Inc. continues its winning ways.