Retail

Seattle -- Nordstrom Rack will make its Philadelphia debut, opening an approximately 39,000-sq.-ft. store on Chestnut Street in fall 2014. The property is owned and managed by JEMB Realty Corp.
   
The new Nordstrom Rack will move into a completely renovated space that was originally home to department store Bonwit Teller and was most recently held by Daffy's. The store will occupy the first three floors of the historic, eight-story building.
   

New York -- Saks Fifth Avenue Off 5th plans to open a second store in Orlando, Fla., on Oct. 3. On the same date, the retailer plans to open its newly relocated store at Potomac Mills in Woodridge, Va.

Walnut Creek, Calif. -- The Home Depot comes in first in a new ranking of retail digital gift card offerings. Retailers with the highest overall digital gifting scores in  a new RSR Research benchmarking report, “Digital Gift Cards: The Good, The Bad, And The Ugly, are The Home Depot, Sephora, Starbucks, Dunkin’ Donuts and The Cheesecake Factory.

Deerfield, Ill. – Net earnings for Walgreen Co. soared in both the fourth quarter and full fiscal year 2013. Net earnings during the fourth quarter totaled $657 million, an 86.4% increase from $353 million in the same quarter a year ago, while net earnings for the full year rose 15.2% to $2.5 billion, from $2.1 billion.

San Bruno, Calif. -- Walmart announced it is opening two new warehouses dedicated to filling online orders, one in Fort Worth, Texas, and one in Bethlehem, Pa., which will be its largest center to date. The new facilities are part of a next-generation fulfillment network that the retailer said will deliver U.S. customer orders faster and at a lower cost.

Serta Simmons Holdings has announced that Bob Sherman, CEO of National Bedding Company (doing business as Serta International), has decided to leave the company to pursue other interests, effective immediately.

The company stated that during his 25-year tenure, Sherman drove a combination of groundbreaking product innovation, strong customer relationships and operational excellence that led Serta to become the top mattress brand in the United States. 

Pittsburgh – Internet coupon provider MyCoupons.com is launching a responsive design website. The new website presents a cleaner, contemporary, responsive design that adapts itself to all digital platforms: web, tablet, and mobile.

The new infrastructure also improves the user experience with better and faster search capabilities for the thousands of coupons and promotional codes available on the site from more than 9,000 online merchants.

New York – At least four law firms have launched investigations of Lumber Liquidators Holdings, Inc. following a raid by federal agencies on Lumber Liquidators’ Virginia offices in connection with the importation of certain wood-flooring products. The law firms of Pomerantz Grossman Hufford Dahlstrom & Gross LLP, Bronstein, Gewirtz & Grossman, LLC, The Shuman Law Firm, and Wohl & Fruchter LLP are all investigating whether Lumber Liquidators has committed federal securities violations.