Financial/Banking

Seattle -- Nordstrom plans to open a Nordstrom Rack in Tysons Corner, Va. The approximately 42,000-sq.-ft., two-level store is scheduled to open during fall 2012.

Nordstrom Rack will open in the former Filene's Basement space and join tenants Morton's Steakhouse, Bertucci's restaurant and Bank of America in a 215,000-sq.-ft.  mixed-use project. The project is owned by Rocks Tysons Two LLC and managed by Allen & Rocks, Inc. with KLNB Retail handling leasing.
 

Minneapolis -- Christopher & Banks Corp. announced that its board of directors approved a change in the company’s fiscal year-end to the Saturday nearest to the end of January, rather than the Saturday nearest to the end of February.

The retailer said the change, which is effective for the company’s current fiscal year, will provide certain benefits, including aligning its reporting periods to be more consistent with that of other specialty retail companies.
 

BENTONVILLE, Ark. — Walmart announced that it is helping customers prepare for tax season by offering low-cost tax preparation preparation services and free in-store federal Form 1040EZ filing. In addition, the retailer provides $3 and $6 check-cashing services. 

Bentonville, Ark. -- Walmart is expanding the services it offers at tax time to include free in-store federal Form 1040EZ filing.

The chain has partnered with Jackson Hewitt and H&R Block to double its in-store tax kiosks and lower the cost for tax preparation services. Jackson Hewitt will offer free federal Form 1040EZ filing at its Walmart kiosks throughout the tax season, and H&R Block will offer a free federal Form 1040EZ until Feb. 29.

San Diego -- Warehouse club operator PriceSmart said Friday that net income for the quarter ended Nov. 30 edged down to $14 million, compared with $14.9 million in the year-ago period.

Net warehouse sales increased 24.1% to $468.3 million from $377.3 million, and total revenue rose to $478.7 million from $386.1 million.
 

New York City -- Barnes & Noble said Thursday that it is beginning “strategic exploratory work” to separate the Nook division in an effort to help the emerging business grow.

“We see substantial value in what we’ve built with our Nook business in only two years, and we believe it’s the right time to investigate our options to unlock that value,” said William Lynch, CEO, Barnes & Noble.

New York City -- A report released Wednesday by the International Council of Shopping Centers and Goldman Sachs said that post-Christmas shopping surges propelled U.S. same-store sales significantly forward during the week after Christmas.

Columbus, Ohio -- Express has announced changes to its board of directors. Michael Archbold, president and COO of Vitamin Shoppe, has been appointed to the board as a class I director, effective Jan. 3.

Archbold joined Vitamin Shoppe in 2007 as CFO and COO. He was promoted to president in 2011. Previously, he was executive VP, CFO and chief administrative officer of Saks Fifth Avenue.