Finance & Capital Management

Chicago -- Walmart has announced two additional store openings for Chicago, bringing the total number of stores it plans to open in the Windy City by 2013 to six.

The new stores will create close to 1,000 new jobs and nearly 200 construction jobs putting Walmart on the path to meeting the goals outlined in its "Chicago Community Investment Partnership."

Chicago Mayor Richard Daley said the stores will bring fresh food and groceries to some of the city's most underserved neighborhoods.

New York City -- The Labor Department’s Producer Price Index rose last month, primarily due to higher energy costs and the biggest rise in food prices in 36 years, USA Today reported.

Food prices rose 3.9% last month, the highest increase since November 1974.

The steep rise was due, in large part, to higher vegetable costs, which were up nearly 50%.

Bentonville, Ark. -- Walmart announced the deployment of five rooftop solar arrays for Walmart and Sam’s Club locations in Puerto Rico. The solar program is made possible through a solar energy service agreement where Sun Edison, a subsidiary of MEMC Electronic Materials, will design, deploy, operate and maintain over three megawatts of solar technologies across the five locations with no upfront costs to Walmart.

Pittsburgh -- Teen retailer rue21 said that its fourth quarter net income increased 41% to $10.9 million from $7.7 million in the year-ago period. Net sales for the quarter increased 22.3% to $190.1 million, from $155.4 million. Same-store sales rose 1.5%.

By Jeff Green

MOORESVILLE, N.C. -- Lowe's announced that it will donate $1 million to support the Red Cross Japan Earthquake and Pacific Tsunami relief effort that is assisting victims in Japan. The company said that customers who want to help Lowe's support Japan relief efforts can do so by making a donation on Lowes.com and Lowe’s Canada website, Lowes.ca. Money donated will go to the American Red Cross and the Canadian Red Cross.

New York City -- Private equity firm Golden Gate Capital Corp. agreed to sell a majority stake in J. Jill to Arcapita Bank BSC, a Bahrain-based investment bank, less than two years after buying the company. Terms of the agreement were not disclosed.

Golden Gate will remain a minority shareholder in the company. J. Jill President and CEO Paula Bennett will continue to lead the chain.

Golden Gate bought J. Jill in June 2009 from The Talbots for about $75 million.
 

Glendale, Calif. -- Nordstrom and Caruso Affiliated jointly announced today an agreement to relocate the Nordstrom full-line store and build a new store at Caruso Affiliated's The Americana at Brand in downtown Glendale, Calif.

The new three-level, 135,000-sq.-ft. is expected to open in fall 2013 and will be part of the expansion of The Americana at Brand. Nordstrom will continue serving customers at its current Glendale Galleria store, located next to The Americana at Brand, until the new store opens.