Finance & Capital Management

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.

As we continue to witness the battle of brick-and-mortar versus online shopping, it’s interesting to see Walmart’s latest ploy to “one-up” their online competition. Their new Walmart To Go service is offering customers same-day delivery of online orders for just $10. While the initial test period is expected to last only through the holidays, the possibility that this could stick makes me think that Walmart To Go might ultimately have some huge implications for brick-and-mortar retail. The big question, of course, is will it work? Can Walmart pull it off?

Bentonville, Ark. -- Wal-Mart Stores Inc. announced the completion of its increased investment in Yihaodian, a fast-growing Chinese e-commerce company. The chain now holds an approximate 51% stake in the Yihaodian holding company.

"This investment demonstrates we are committed to the development of e-commerce in China and bringing the best possible shopping experience to Chinese customers," said Neil Ashe, president and CEO of Wal-Mart's Global e-commerce division in a statement.

Beijing -- Wal-Mart Stores Inc. said Friday that it plans to open 100 stores in China by 2015, a slowed pace from prior growth rates in the country but still representing ongoing interest in boosting its market share behind the country’s No. 1 player Sun Art Retail Group.

New York -- The Ikea Group plans to become energy and resource independent by 2020, according to the chain’s new “People & Planet Positive” sustainability initiative.

Value fashion retailer Primark’s new flagship on Oxford St. (at Tottenham Court Rd.) spans some 82,300 sq. ft. over four floors. Designed by Dalziel & Pow, London, the store has a bold, modern look,  complete with a faux tube station, a massive LED screen and colorful graphics. Digital integration is a key element, with specially commissioned brand films playing on the exterior wall of the elevator lifts. An animated store map is featured on the elevator walls and throughout the store to help with customer navigation.