Finance & Capital Management

Seattle - Nordstrom Inc. has appointed Tanya Domier, CEO of Advantage Sales & Marketing LLC (ASM) to the company's board of directors. Her addition brings the total number of directors to 14 and the number of independent directors to 11.

Hong Kong – A subsidiary of global export company Li & Fung is partnering with two Chinese department store retailers to open as many as 300 stores in the Shanghai free trade zone. Li & Fung Trading (China) Holdings Ltd. is forming a joint venture with Shanghai Bailian Group Co. Ltd. and Beijing Wangfujing Department Store (Group) Co. Ltd. Li & Fung holds a 20% stake and each department store chain owns a 40% stake.

Menlo Park, Calif. – Facebook may not have anywhere near the retail sales volume of Wal-Mart, but in at least one important financial metric the social media network has overtaken Wal-Mart. According to the Associated Press, Facebook has knocked Wal-Mart out of the Standard & Poor’s list of the top 10 most valuable stocks.

Seattle – Nordstrom Inc. plans to open Nordstrom Rack at Waikiki Trade Center in Honolulu, Hawaii. The approximately 34,000-sq.-ft., two-level store is scheduled to open in spring 2016.

The property was acquired by Coastwood Capital Group, LLC in late 2013.

The Walmart Foundation is making a big statement in support of free school meal and education programs.

The organization will give away $15.5 million in grants to seven national nonprofits to support free meal and nutrition education programs this summer and throughout the school year. The programs in more than 7,700 communities across the country will help over 1 million low-income children and their families gain access to critical meals and teach them how to cook and eat healthy together.

Chelmsford, Mass. -- There is a disconnect between IT and loss prevention departments when it comes to budgets, focus and staffing, according to a study by IHL Group and Axis Communications.

New York - Macy’s, Inc. is redeeming $76 million in debt. Through its Macy’s Retail Holdings Inc. subsidiary, the company will redeem for cash the entire $76.02 million aggregate principal amount outstanding on 8.125% debt that is due 2035, on Aug. 17, 2015.

Retail licensing group Sequential Brands, whose brands include Jessica Simpson, Ellen Tracy and Avia, is buying Martha Stewart's lifestyle collection, although the domestic diva will maintain creative control over product.