Finance & Capital Management

Lumber Liquidators has raised its full year 2013 outlook based on year-to-date results and current trends.

The company now expects net sales in the range of $994 million to $1 billion, up from a previous range of $985 million to $995 million, with the fourth quarter ranging from $252 million to $258 million.

Lumber Liquidators also expects to open a total of 29-30 new stores during 2013 and increase net store sales 15% to 16%, up from a previous range of 14% to 15%, with the fourth quarter ranging from 13% to 15%.

Woonsocket, R.I. -- CVS Caremark and Cardinal Health have entered into an agreement to form the largest generic sourcing entity in the United States.

Both companies are contributing their sourcing and supply chain expertise to this 50/50 joint venture and are committing to source generic drugs through it. The companies separately announced a three-year extension through June 2019 of Cardinal Health's existing pharmaceutical distribution agreements with CVS Caremark.

Currently president and CEO of Walmart's Europe, Middle East and Africa (EMEA) and Canada region, David Cheesewright has been promoted to president and CEO of Walmart International, the company's second largest operating segment.

Cheesewright will report to Doug McMillon, who was tapped to succeed Mike Duke as the company's president and CEO. Both assume their new roles Feb. 1, 2014. Cheesewright's successor will be named at a later date.

Bentonville, Ark. – Wal-Mart Stores named David Cheesewright, 51, as the new president and CEO of Walmart International. He succeeds Douglas McMillon, who is set to become the chain’s CEO, the retailer's top executive. Both assume their new roles on Feb. 1, 2014.

The once bankrupt and liquidated retailer Linens ‘n Things is poised for a comeback following an acquisition of the brand by Galaxy Brand Holdings.

Phoenix — CBRE has completed the sale of a single tenant net leased Kohl’s department store at the Alameda Crossing shopping center in Avondale, Ariz. The 88,402-sq.-ft. retail property on 8.89 acres commanded a price of $10.6 million.

CBRE’s Phoenix office represented both the buy and the seller in the transaction. The seller was La Jolla, Calif.-based Collins Family Trust, Stanford Decedents Trust and Sarn Family Trust. The buyer was Investors Associated LLP of Oconomowoc, Wis.

Seattle – Amazon.com is reportedly using robots from Kiva Systems at three distribution centers. According to the Wall Street Journal, the robots bring merchandise from shelves to warehouse workers and can potentially reduce the cost of filling an order by 20% to 40%, for an annual savings of more than $900 million.

Amazon purchased Kiva for $775 million in March 2012 and according to a recent financial disclosure now has 1,400 Kiva robots in service helping fulfill orders. The retailer declined to comment on the project.

Import volume at the nation’s major retail container ports is expected to grow 1.8% in December, compared to the same month last year, and the year should end with an increase of 2.3% from 2012.

According to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates, U.S. ports followed by Global Port Tracker handled 1.43 million 20-ft. Equivalent Units (TEU) in October, the latest month for which after-the-fact numbers are available.