Financial/Banking

Salt Lake City - Overstock.com is offering a private label credit card issued through Comenity Capital Bank. To pay using the Overstock.com store card, shoppers select that option when checking out.

They are then prompted to submit a brief application, after which approval is confirmed within seconds. The card number is stored in conjunction with the customer's Overstock.com account, though the customer also receives a physical card.

Overstock.com is offering shoppers a new method of paying for their purchases — a store credit card. The new cards will be provided by Comenity Capital Bank, which furnishes credits cards for retailers such as Buckle and Express.
 
"We always like to give our customers options," Overstock CEO Patrick Byrne said. "That applies to both product selection and payment method. Allowing customers to pay for larger purchases over time is an exciting development and one that has been received enthusiastically."
 

Toronto – Canadian Tire Corp. has named Michael Medline, who has served as company president since November 2013, as president and CEO effective Dec. 1. Current CEO Stephen Wetmore has agreed to remain on the board of directors in a new, non-executive position of deputy chairman.

Brussels, Belgium – Delhaize Group, parent company of U.S. supermarket chains including Food Lion and Hannaford Bros., swung to a net loss of $60.2 million in the second quarter of fiscal 2014, compared to net income of $140.3 million in the same period a year earlier.

Impairment charges in Delhaize’s Serbian business and loss of market share in its home Belgium market contributed to the retailer’s poor profit performance. Revenue rose 0.5% to $7.04 billion, from $7.01 billion. U.S. same-store sales rose 3.3%.

Austin, Texas – Zales has the highest annual percentage rate (APR) on its private label card out of 61 U.S. retailers surveyed by CreditCards.com. According to the study, the retailers with the five highest maximum APRs are:

1. Zales, up to a 28.99% APR;
2. Office Depot Personal Credit, up to a 27.99% APR;
3. Staples Personal Account, up to a 27.99% APR;
4. My Best Buy, up to a 25.24% and 27.99% APR, depending on your credit score; and

San Antonio, Texas - CST Brands Inc. has entered into definitive agreements to purchase 100% of the membership interests of Lehigh Gas GP LLC, the general partner of Lehigh Gas Partners LP, from Lehigh Gas Corporation.The aggregate consideration will be $17 million in cash and approximately two million CST shares.

Payment solutions provider Global Payments has signed a referral agreement with BitPay, a payment service provider (PSP) specializing in bitcoin digital currency, which will allow Global Payments to incorporate the cryptocurrency into its product suite and offer bitcoin payment acceptance to its worldwide merchants.

Atlanta - Global Payments Inc. has signed a referral agreement with BitPay, a provider of business solutions for the Bitcoin digital currency. This relationship allows Global Payments to incorporate the cryptocurrency into its product suite and to offer Bitcoin payment acceptance to its worldwide merchants.