Financial/Banking

Purchase, N.Y. -- MasterCard Worldwide announced that Subway, the nation’s largest sandwich chain, will accept MasterCard’s PayPass contactless payments at more than 7,000 U.S. locations by the end of first quarter 2012. 

Consumers will now have the option of paying for their meal by simply tapping a MasterCard PayPass-enabled card or device at the register. PayPass does not require customers to sign receipts for purchases under $50.

Chattanooga, Tenn. -- TIAA-CREF and CBL & Associates Properties have announced the closing of their $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF has completed its investment in four of CBL’s market-dominant shopping malls: Oak Park Mall in Kansas City, Kan.; West County Center in St. Louis; CoolSprings Galleria in Nashville; and Pearland Town Center in Pearland, Texas.

Chesapeake, Va. -- Dollar Tree said that its board has approved a $1.5 billion share repurchase program. The company said it has invested more than $1.9 billion for share repurchase since 2003, including $414.7 million in 2010 and $345.9 million in 2011, to date.

New York City -- Although many CFOs have sustainability on their screens, some have yet to fully engage with the new risks – and opportunities – that the "sustainability imperative" presents, according to a survey conducted by Deloitte.

The study, “Sustainable Finance: The risks and opportunities that (some) CFOs are overlooking,” finds there is considerable opportunity for CFOs to shape their companies' strategic responses to sustainability issues.

Among its key findings:

Minneapolis -- Christopher & Banks Corp. reported Thursday a net loss of $13 million for the quarter ended Aug. 27, compared with a loss of $2.5 million in the year-ago period.

Sales dropped to $96.2 million from $101.3 million, and same-store sales declined 8% during the quarter.

For the second half of fiscal 2012, the retailer said it plans to open approximately eight new stores and close approximately 17 existing stores.

Fort Worth, Texas -- Pier 1 Imports said Thursday it has, through a subsidiary, signed a new, long-term private-label credit card agreement with Alliance Data.

Under terms of the new agreement, Alliance Data, through its bank subsidiary, will provide end-to-end private-label credit card services from account acquisition to multichannel marketing and customer service for Pier 1 Imports.

Springfield, N.J. -- Village Super Market, which operates 28 supermarkets under the Shop Rite name in the Northeast, reported Thursday that net income for the fourth quarter was $8.8 million, an increase of 14% after backing out the extra week in last year’s fourth quarter.

Without the adjustment, net income fell from $8.9 million a year earlier.

Revenue rose nearly 1% to $345 million from $342.7 million. After excluding the extra week, revenue increased nearly 8%. Same-store sales rose nearly 8% excluding the extra week.

FORT WORTH, Texas and DALLAS — Pier 1 Imports announced that it has, through a subsidiary, signed a new, long-term private-label credit card agreement with Alliance Data , a provider of loyalty and marketing solutions derived from transaction-rich data.