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Financial/Banking

  • Lowe’s Q3 sales, profits beat Street on strong home improvement spending

    Mooresville, N.C. — Lowe’s Companies raised its full-year profit and sales forecast as strong home improvement spending boosted its profits and sales in the third quarter. An improving job market has led to increased homeowner spending on renovation projects, spurring Lowe’s strong performance. In addition, higher pretax earnings helped improve total net earnings.  

  • Tech Guest Viewpoint - Focus on breach response as much as prevention

    By Todd Waskelis, AT&T

  • Finance, Operations, Dept. Store – Sears Canada more than doubles net loss in Q3

    Toronto, Canada – The bad news continued for Sears Canada Inc. during the third quarter of fiscal 2014. Following the announcement by parent company Sears Holding that it would sell off most of its 51% ownership stake to shareholders and reports that J.P. Morgan Chase & Co. will end its agreement to issue credit cards for Sears Canada in November 2015, Sears Canada reported a net loss of $118.7 million, significantly larger than the $48.8 million net loss reported the same period a year earlier.

  • TJX meets Street with lower Q3 profit, misses on sales

    Framingham, Mass. – The TJX Companies Inc. met Wall Street expectations with net income of $594.96 million in the third quarter of fiscal 2014, down 4% from $622.65 million in the same quarter the prior year. Net sales rose 5% to $7.37 billion from $6.98 billion, short of Wall Street expectations.

  • Report: Sears Canada, J.P. Morgan to end credit card agreement in Nov. 2015

    Toronto, Canada –- J.P. Morgan Chase & Co. will reportedly end its agreement to issue credit cards for Sears Canada when the term expires Nov. 15, 2015. According to the Wall Street Journal, in the meantime the two companies will explore opportunities to sell the credit card program to a third party, with Sears Canada receiving as much as $154 million if a sale goes through.  

  • Shared WiFi app wins PayPal ‘BattleHack’ contest

    San Jose, Calif. -- PayPal and Braintree have named named the $100,000 grand prize winner of the 2014 BattleHack Series. At the World Finals, competitors were tasked with building an application that incorporates PayPal, Braintree or Venmo APIs.    The grand prize was awarded to the team from Tel Aviv, with two hackers, Shai Mishali and Pavel Kaminsky.   

  • Dillard's posts increased profit in 3Q, sales dwindle

    Little Rock, Ark. -- Dillard's Inc. reported Thursday a profit of $55.2 million in its fiscal third quarter, up 8.4% over the $50.9 million profit in the same period last year.   Sales, however, dipped to $1.460 billion, from $1.469 billion, and same-stores sales declined 1%.   Still, said CEO William T. Dillard II, "We believe we are positioned very well for the holiday season.”  

  • Books-A-Million turns a page

    Books-A-Million has appointed Ronald J. Domanico to serve as a member of the board and a member of the audit committee of the board.

    “We are very fortunate to have identified a director of the caliber and experience that Ron possesses,” said Clyde B. Anderson, the executive chairman of the board of directors of the company. “Ron is a seasoned financial executive that brings a depth of experience in finance, strategy, and operational matters to our board.”

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