Strategy

MINNEAPOLIS — Target announced that this fall it is investing more than $50 million in education. The donation will fund programs such as Target School Library Makeovers, Take Charge of Education and a series of education grants and awards that will provide the resources needed to help students and teachers excel, the company reported.

New York City -- Starbucks Coffee Co. plans to expand in Latin America after concentrating in recent past years more on Asia, founder and CEO Howard Schultz said at a presentation in Madrid, Bloomberg reported.

The chain as about $2 billion in cash to invest in an “aggressive and opportunistic way,” Schultz said, and is especially interested in Brazil, according to the report.

Sidney, Neb. -- Cabela’s announced that its wholly owned subsidiary, World’s Foremost Bank, has entered into a $411.7 million commitment with Royal Bank of Canada under an outstanding series of variable funding notes issued by Cabela’s Credit Card Master Note Trust. The commitment is for three years and accrues interest at a variable rate of commercial paper plus a spread.

New York City -- Union leaders on Monday said they reached a tentative agreement with The Vons Cos. Ralphs Grocery Co.; and Albertsons, to head off the threat of a strike in Southern California by more than 60,000 workers, the Associated Press reported.

The union said the agreement, which still must be approved by the rank and file, would protect workers' health policies.

New York City -- The International Council of Shopping Centers said it expects holiday sales to increase 3% this year, which is below the 4.1% gain in 2010.

Holiday sales are expected to reach $250.2 billion, the highest since the 2007 peak, when spending totaled $251.7 billion, according to the group, whose forecast is among the first to come out for the holiday 2011 shopping season.

The ICSC predicted that holiday same-store sales will rise 3.5%, slightly lower than the 3.8% pace in 2010.

Placentia, Calif. -- LaVida Massage, a Commerce, Mich.-based massage and wellness center, announced the opening of a new LaVida location in California, as well as the addition of a new master franchisee in southern California.

The new 3,700-sq.-ft. center, located in Placentia, is slated to open Sept. 19.

New master franchisee Deby Goodman will own and manage the newest store, as well as will be responsible for building new LaVida operations specific to the southern California market.
 

HONG KONG — On the heels of a 98% drop in its yearly earnings, Esprit Holdings said it is divesting its North American businesses and exiting three major European markets.

The company said it is actively looking for a partner willing to acquire its North American operations, which include 93 stores in the United States.

Lenexa, Kan. -- Retail Group of America, owner of Strasburg Children stores, has announced the appointment of Joanna B. Shawver as VP real estate. She will lead the company’s real estate expansion strategy in the United States.

Shawver brings more than 20 years of commercial real estate experience to her new role, with specialties in tenant representation and shopping center leasing. Most recently, she was VP leasing with RED Development, a Kansas City and Phoenix-based real estate development firm.