Journalist, New York
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Mar 6, 2014

Icahn ‘not yet begun to fight’ eBay in push for PayPal spinoff

March 6 (Reuters) – Activist investor Carl Icahn told eBay
Inc shareholders in a new letter on Thursday he has
“not yet begun to fight” to get the e-commerce company to spin
off its PayPal payments unit.

Icahn, who owns just over 2 percent of eBay, also used the
letter to lay out new arguments for the split.

Mar 5, 2014

EBay CEO says top shareholders agree PayPal should stay put

NEW YORK (Reuters) – EBay Inc CEO John Donahoe said on Wednesday that several of the online retailer’s most active shareholders have assured him they support his efforts to resist demands by activist investor Carl Icahn for a spin-off of the PayPal unit.

Donahoe told Reuters on Wednesday he has spoken with as many as 16 of the 20 most-active shareholders in eBay, and most favored hanging on to the fast-growing PayPal payments unit. He did not say what percentage of the company’s shares were held by the investors who agreed with his resistance to Icahn.

Feb 27, 2014

Sears posts hefty holiday quarter net loss

Feb 27 (Reuters) – Sears Holdings Corp on Thursday
reported a deep loss and sales decline in a “tough-to-terrible”
holiday quarter, but said it was making progress in generating
more of its sales through a loyalty program it was betting its
future on.

Comparable sales fell 7.8 percent at its namesake U.S.
department stores, and 5.1 percent at its Kmart discount stores,
while gross profit margins at both chains shrank as it offered
deep markdowns, particularly on electronics and clothing.

Feb 26, 2014

J.C. Penney expects higher sales, gross profit this year

By Phil Wahba

(Reuters) – After two years of massive losses, J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz) appears to be turning a corner.

It reported improved sales and profit margins for the holiday season quarter, and the department store chain expects to make further strides this year.

Feb 26, 2014

Icahn, eBay trade barbs as feud over governance escalates

NEW YORK, Feb 26 (Reuters) – Billionaire investor Carl Icahn
and eBay Inc took their war of words up a notch on

Icahn, who last month called for eBay to sell off its
fast-growing PayPal payments business, called corporate
governance at the e-commerce giant “dysfunctional” in his second
letter to eBay shareholders this week.

Feb 26, 2014

Barnes & Noble posts profit, may yet split up company

By Phil Wahba

(Reuters) – Barnes & Noble Inc (BKS.N: Quote, Profile, Research, Stock Buzz) reported a profit for the holiday quarter after it scaled back its money-losing Nook digital business and its core bookselling business stabilized.

Michael Huseby, who became chief executive officer in January, also said on Wednesday that Barnes & Noble was “still studying” the possibility of separating its businesses, which include superstores, college bookstores and Nook.

Feb 26, 2014

Barnes & Noble posts quarterly profit, plans new Nook device

Feb 26 (Reuters) – Barnes & Noble Inc returned to
profitability during the holiday quarter after it scaled back
its money-losing Nook tablets business and its core bookselling
business stabilized.

Shares of the company, the largest U.S. bookstore chain,
were up 2.6 percent at $18.19 in premarket trading.

Feb 26, 2014

For J.C. Penney, e-commerce is no easy fix

By Phil Wahba

(Reuters) – First the good news for J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz): online sales rose 26.3 percent during the holiday quarter.

Now the bad: the surge mostly reflects how far the one-time e-commerce pioneer has fallen.

Feb 25, 2014

Macy’s sticks to forecast despite slow Valentine’s Day sales

By Phil Wahba

(Reuters) – Macy’s Inc’s (M.N: Quote, Profile, Research, Stock Buzz) sales this year were weak until Valentine’s Day, the department store operator said on Tuesday, but it stuck to its full-year forecast because it expects business to return to normal when the weather improves.

Shares of Macy’s were up 3.1 percent at $54.81 in morning trading after the company reported a higher-than-expected profit for the holiday quarter.

Feb 24, 2014

Icahn, eBay trade accusations as fight escalates

NEW YORK, Feb 24 (Reuters) – Billionaire investor Carl Icahn
accused eBay Inc Chief Executive John Donahoe of
failing to spot – or ignoring – conflicts of interest on the
company’s board and called again for the spinoff of its
fast-growing PayPal payments business.

Icahn, who also disclosed a 2.15 percent stake in the
e-commerce giant on Monday, said in a letter to shareholders
that two long-time board members, Marc Andreessen and Scott
Cook, had business interests that directly competed with eBay.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
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