News

PITTSBURGH — The PNC Financial Services Group has appointed Andrew Feldstein to its board of directors. Feldstein is co-founder, CEO and chief investment officer of BlueMountain Capital Management, LLC.

"Mr. Feldstein brings a reputation for innovation and additional risk management expertise to the board," said PNC executive chairman James E. Rohr. "His vision and experience should benefit PNC as we seek to grow our business and further strengthen our balance sheet."

NEW YORK — EyeLock Inc., a leading provider of iris-based identity authentication products and technology, has appointed Michael Fiorito as VP of enterprise accounts.

In this role, Fiorito will be responsible for managing all enterprise accounts and helping spearhead business development efforts which will expand EyeLock's footprint in the United States.

DEERFIELD, Ill. — United Stationers has announced that SVP and CFO Fareed Khan has decided to leave the company to accept a position with another firm.  

MEMPHIS, Tenn. — Terminix has entered the Canadian pest control market with the acquisition of substantially all the assets of Toronto-based Magical Pest Control. It is the first Canadian asset acquisition for the company.

Founded in 1997, Magical Pest Control is one of the largest pest control companies in Ontario. It specializes in commercial accounts and the property management sector, while also treating residential customers. The Toronto company, headed by president Mark Joseph, served customers throughout Ontario and eastern Canada.

Vancouver-based Versatile Systems announced that Robert Joyce has resigned as a director and officer of Versatile and all its subsidiary companies. Joyce will continue working with the company as a consultant, and will assist in the management transition process.

Versatile also appointed Kenneth Kahn as president of Versatile Systems Inc. and its subsidiaries. Kahn was most recently EVP and global brand officer for Mood Media.

Seattle -- Nordstrom said its net income for the fiscal second quarter, ended Aug. 3, rose to $184 million from $156 million in the year-ago period. But the department store retailer cut its yearly forecast, citing softer-than-anticipated sales trends.

Nordstrom said revenue rose 6.4% % to $3.1 billion, short of the $3.29 billion Wall Street expected. Total company same-store sales increased 4.4%.

Dallas -- Tuesday Morning Corp. is ceasing e-commerce operations to focus on providing in-store assortments. A statement on the retailer’s website says that due to the nature of its closeout business, it will no longer sell items online but instead focus on the quality and price of assortments in its stores.

New York -- Sporting goods retailer Sportsman’s Wearhouse is deploying a new tool from Honeywell’s Honeywell Scanning and Mobility group in time for the holiday shopping season. The chain will equip workers in its 46 stores with Honeywell’s new Captuvo SL22 for iPod Touch mobile digital devices.

Chantilly, Va. – Operators of franchises are actively involved in the local online and social media presence of their franchise businesses, often funding and controlling digital marketing activities at the local level. A new report from BIA/Kelsey, Local Commerce Monitor Wave 17 (LCM), shows that franchises estimated their franchisors covered, on average, 43% of the online presence costs of their individual businesses, for things like website development, landing pages, enhanced listings and online video

By Stephen Springham, senior retail analyst Planet Retail
 
After the horror show of Q1, Walmart had so much to prove domestically in Q2. And it has again come up short. A U.S. comp store decline of 0.3% was below earlier management of a 0.2% decline, guidance that was endorsed as recently as the Annual Shareholder Meeting in June. This marks the second quarter that U.S. comps have been both in negative territory and below guidance. Those accusing Walmart of ‘crying wolf’ in its bullishness (ourselves included) may feel vindicated.