Strategy

Greensboro, N.C. -- RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers announced Tuesday they will acquire two outlet centers in the Montreal area.

The pair will co-purchase Les Factoreries St. Sauveur and Bromont Outlet Mall for about $94.7 million Canadian dollars.

RioCan will provide development and property management services and Tanger will provide leasing and marketing services.  The properties will be rebranded as Tanger Outlets.

Both transactions are slated to close in November 2012.

Deerfield, Ill. -- Walgreens said Tuesday that it is beginning its recovery efforts in the wake of Hurricane Sandy. The retailer said that it is working to provide its stores with what they need to again serve customers in areas impacted by the storm.

By noon ET on Tuesday, the number of Walgreens stores closed dropped to 530 with more re-opening by the hour, from a peak of about 750 stores closed during the height of the storm.

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.

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.

New York -- In a surprise announcement on Tuesday, Apple Inc. said its retail senior VP John Browett abruptly left the company on Monday. Another senior-ranking staffer iOS software senior VP Scott Forstall, will exit next year.

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.

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.

Toronto -- Canadian luxury fashion retailer Holt Renfrew & Co. said Monday it will launch a new discount chain called hr2, with a first store in March in Quebec, followed by planned locations across the country by 2015.

It said the stores will range in size from 25,000 sq. ft. to 35,000 sq. ft., smaller than Holt Renfrew’s nine department stores, and targeting women age 25 and up.

San Jose, Calif. -- eBay has eliminated approximately 325 jobs from its PayPal division. As a result, the company has announced a planned fourth quarter pretax restructuring charge of approximately $15 million related to staff reductions at the company's PayPal business unit. PayPal also is ending contracts with approximately 120 contractors globally.

Bolingbrook, Ill. -- Ulta Beauty said Monday that it has named DSW Inc. president and CEO Michael MacDonald to its board of directors, effective Oct. 24.

Prior to joining DSW in 2009, MacDonald served for three years as chairman and CEO of ShopKo Stores. Prior to that, he spent 16 years with Carson Pirie Scott and with Saks Inc. after it acquired Carson Pirie Scott in 1998.