Finance & Capital Management

New York -- While it may be days, even weeks, before the full extent of the damage caused by Hurricane Sandy is known, economists are forecasting that retail sales will be impacted in October and November but that the economy overall will experience an uptick.

Deerfield, Ill. -- Walgreens said Tuesday it has formally set up a new company, jointly owned with Alliance Boots, as part of the strategic partnership’s synergy program.

The new company, called Walgreens Boots Alliance Development GmbH, is based in Bern, Switzerland.

Chicago -- Claire's Stores Inc. said Tuesday that it has opened its first stores in Venezuela and Panama; the Venezuelan store opened on Oct. 12 in Sambil Paraguna Mall in Punto Fijo and the Panama store opened Oct. 27 at Metro Mall.

Claire's has partnered with locally headquartered Grupo David Enterprises as the single franchisee across 16 countries in Latin America. Over time, Claire's said it expects these countries to present a minimum 100 stores market opportunity.

 

Red Bluff, Calif. -- Walmart's wind turbine at its distribution center in Red Bluff, Calif., is now operational. The wind turbine is Walmart's first onsite industrial-sized wind turbine and will generate approximately 2,200,000 kilowatt-hours of power, providing up to 20% of the distribution center's annual electricity use. U.S. House Representative Wally Herger joined local officials, as well as Walmart and Foundation Windpower executives, to commemorate the pilot project.

Commerce, Mich. -- Health and wellness retailer LaVida Massage said Tuesday it will have opened at least 13 new franchised units before the end of 2012. Another eight are slated to open in early 2013.

LaVida currently operates 45 centers nationwide. 

Our rapid expansion continues to yield strong results for LaVida, despite a struggling economy,” said Evan Kaltschmidt, COO.

The new centers are located in California, Georgia, Illinois (2), Michigan (3), New Jersey, New York, Ohio, Pennsylvania, Texas and Virginia.

Washington, D.C. -- A Monday report by the Commerce Deptartment showed that consumer spending in the U.S. for September rose more than forecast as household incomes climbed.

Household purchases increased 0.8%, the most since February and topping the 0.6% gain expected by Bloomberg. The Sept. rise followed a 0.5% advance in August.

Incomes rose 0.4%, the most since March.

The economy expanded at a 2% annual pace in the third quarter, boosted by the uptick in household purchases.

Atlanta -- The Home Depot said Monday it has completed its merger transaction with U.S. Home Systems, an exclusive supplier of kitchen and bath refacing products to the home-improvement chain.

The transaction was approved by the stockholders of USHS at a special meeting held on Oct. 26, and USHS’ common stock ceased trading on the Nasdaq at market close.

Minneapolis -- Christopher & Banks Corp. said Monday it has named LuAnn Via president and CEO, effective Nov. 26.

Via, also named to the retailer’s board of directors, succeeds Joel Waller, who will remain in a consultative capacity through June 30, 2013.

Since July 2008, Via has served as president and CEO of Payless ShoeSource, a subsidiary of Collective Brands, which recently was acquired.