Strategy

New York -- On the heels of a strong performance in 2012 that included a 7.3% same-store sales increase, Nordstrom Inc. is investing heavily in its future. Two big areas of investment: online and expansion of the Nordstrom Rack outlet division, both in the United States and in Canada.
 
“Rack, direct and Canada will make up approximately half of our sales in the next five years,” Blake Nordstrom, president, Nordstrom Inc., said during the company’s quarterly conference call.  
   

BATTLE CREEK, Mich. — Kellogg Company has elected Cynthia H. Milligan, dean emeritus of the College of Business Administration at University of Nebraska-Lincoln and trustee of the W.K. Kellogg Foundation, to its board of directors effective Feb. 22, 2013. 

"We are very pleased to welcome Cynthia to our board," said Chairman Jim Jenness. "Cynthia's business acumen and financial experience will be a great asset to our company." 

DEERFIELD, Ill. — Walgreens on Friday will open the doors to "Wag U," an internal education center replete with technology-enhanced classrooms, a mock drug store and video-conferencing capabilities. The new learning center will be the base of operations for employee educational programs offered online and in regional locations nationwide. 

New York -- Wal-Mart de Mexico expects to spend up to $1.4 billion on investments in 2013. But the chain declined to discuss how many stores it will open.

The chain did say that it expects to increase total store space by 8% to 9% in Mexico and 6% in Central America this year.

"We think that the number of stores does not communicate much," said CEO Scot Rank in response to a question by an analyst, Reuters reported.

Expenses related to Walmart’s ongoing Foreign Corrupt Practices Act and related compliance matters will reach $200 million by the end of the first quarter, according to disclosures made Thursday in conjunction with the release of fourth quarter financial results.

In addition to the $99 million Walmart had spent on FCPA and compliance matters at the end of the third quarter, it spent another $58 million during the fourth quarter and said the first quarter could see expenses ranging from $40 million to $45 million.

New York -- Brixmor Property Group announced that Dollar Tree has opened an 8,000-sq.-ft. store at Rose Pavilion, in Pleasanton, Calif., and will open a 9,000-sq.-ft. store at Ridgeview Centre, in Wise, Va.

Brixmor Property Group, based in New York City, owns both Rose Pavilion and Ridgeview Centre.

Dallas -- Zale Corp. on Thursday posted a better than expected second quarter profit as sales rose at its namesake chain and it cut selling and administrative costs. The company restated its forecast that it will return to profit for its current fiscal year, which ends in late July.

Net profit in the quarter ended January 31, 2012, rose to $41.2 million, compared with $28.8 in the year-ago period.

Revenues rose 1.1% to $671 million. Overall same-store sales increased 2.8%, with a 3.6% increase at Zales and Zales Outlets.
 

DALLAS — Zale Corp. reported that revenues for its second quarter rose 1.1% to $7 million from $664 million last year.

“The growth achieved in the quarter was driven by our exclusive, branded collections. Further expanding these products and supporting them with compelling marketing and training is an important part of our growth strategy,” commented Theo Killion, CEO.

For the second quarter of fiscal 2013, comparable-store sales increased 2.8%. This increase follows a 5.8% rise in the same period last year.