Financial/Banking

If JCPenney CEO Ron Johnson is concerned by a 21.7% second-quarter same-store sales decline and a worse-than-expected loss, it wasn't evident Friday morning.

The retailer said sales for the second quarter ended July 28 declined 22.6% to a little more than $3 billion, resulting in a $147 million loss, or 67 cents per share. After adjusting for $159 million in restructuring charges, the company reported a loss of $81 million, or 37 cents per share. The 21.7% comp decline follows a first-quarter decline of 18.9%.

Stamford, Conn. -- GE Capital Retail Bank, a consumer lending unit of General Electric Co., and Sam’s Club announced their multi-year agreement to continue providing the Sam’s Club credit card program to their Advantage and Business members.

GE Capital’s Retail Finance business will continue to manage the Sam’s Club relationship and service the account.

ATLANTA — Aaron's, a lease-to-own retailer specializing in the sales and lease ownership of residential furniture, consumer electronics, home appliances and accessories, announced that Hubert Harris, Jr., has been elected to its board of directors. Harris is the former CEO of Invesco North America.

STAMFORD, Conn. — Sam's Club has extended its relationship with GE Capital Retail Bank, a consumer lending unit of General Electric Company. GE Capital Retail Bank will continue providing the Sam’s Club credit card program to their Advantage and Business Members. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers to help grow their customer sales, will continue to manage the Sam’s Club relationship and service the account.

Carmel, Ind. -- Indianapolis-based Kite Realty Group said that Panera Bread will open a 4,019-sq.-ft. location at Rangeline Crossing, formerly named The Centre, in Carmel, Inc.

Old National Bank will open a 5,600-sq.-ft. outlotat the 83,533-sq.-ft. center, which is currently undergoing a redevelopment.

The landlord is KRG Centre.

SANTA CLARA, Calif. — Trianz, a global consulting and turnkey execution services firm with clients in the retail space, has expanded its leadership team. Trianz has appointed Joanne Mack, VP consulting, to its leadership team and also expanded its U.S. presence by recently opening an office in New York City.

Elmwood Park, N.J. -- Marcus & Millichap Real Estate Investment Services said it has promoted David E. Thurston to associate VP investments.

Most recently, Thurston held the title of senior associate in the New Jersey office. He began his career at Marcus & Millichap in 1999 as the regional manager of the New Jersey office.

Atlanta -- First Data Corp. announced that Bank of America Merchant Services will offer the First Data OfferWise solution to all eligible merchants’ 650,000 U.S. locations through 2Go Media’s iDeals Marketing Platform.