Strategy

Lumber Liquidators spokesman Clint Roberts responded to sister publication HCN's requests for comment regarding the ongoing federal investigation into its sourcing practices. Multiple reports have suggested that the investigation is linked to the Environmental Investigation Agency, which claims the retailer is purchasing wood illegally in protected forests in Far East Russia.

New York -- Charming Charlie has signed a lease for a 15,500-sq.-ft. store at 445 Fifth Avenue in the heart of midtown Manhattan. The fashion accessories retailer will open its first-ever Manhattan flagship store in early 2015.

Thor Equities owns and manages the building, which is located at the northeast corner of 39th street and Fifth Avenue, across from the New York Public Library. RKF and Strategic Retail Advisors represented Charming Charlie in the transaction. Thor Equities represented itself.

Virtual Piggy has become a Demandware LINK Technology Partner. Through the LINK Technology Partner Program, Virtual Piggy has developed a pre-built integration between Virtual Piggy and Demandware Commerce, making it possible for Demandware clients to implement its safe youth commerce solution in a fraction of the time normally required.

Columbus, Ohio - The previously announced offering of $500 million aggregate principal amount of unsecured senior notes due 2023 from L Brands (formerly knows as Limited Brands) has priced at 100% of the aggregate principal amount with a coupon of 5.625%. The sale of the 2023 notes was underwritten by BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint book-running managers.

Monroe, Mich. – La-Z-Boy Inc. intends to acquire two La-Z-Boy Furniture Galleries stores located in the Youngstown, Ohio, market, with combined revenue of approximately $6.5 million. The stores are located in Boardman and Howland, Ohio, and are owned and operated by independent dealers who are retiring.  

Pleasanton, Calif. – Safeway Inc. saw its net income plunge 58% from $157 million to $65.8 million during the third quarter of fiscal 2013, amid a software impairment charge, higher theft and lower property gains. Results, however, beat expectations however.

Sales grew 1.1% from $8.52 billion to $8.62 billion, driven by a 1.9% improvement in same-store sales.

E-commerce facilitator Newgistics has opened three new distribution facilities in Kentucky, California and Illinois encompassing more than 600,000 square feet.

New York -- Tractor Supply CEO Greg Sandfort outlined the company's online strategy, borrowing phrases from other multichannel retailers.

“We have to have our site geared to giving customers the options for any way they like to engage with us,” Sandfort said during the recent Goldman Sachs investor conference.