OPERATIONS

Jones Lang LaSalle in turnkey branding initiative for Nextel

BY Staff Writer

Chicago — Commercial real estate services firm Jones Lang LaSalle will complete the rebrand, design and build-out of retail locations for mobile communications provider NII Holdings for its licensed Nextel brand in Latin America as part of a turnkey brand implementation strategy.

Partnering with design firm Landor, the agency responsible for Nextel’s new brand identity in the region, Jones Lang LaSalle is tasked with ensuring that all Nextel store locations across the region are aligned with the brand’s new graphic identity. Jones Lang LaSalle completed 800 retail locations in time for Nextel’s unveiling of its new brand identity recently, and is slated to rebrand and build out 1,200 additional locations over the next six months.

“Nextel’s new brand embodies the evolution of the company, creating a stronger brand connection with current business customers, while attracting high value individuals in Argentina, Brazil, Chile, Mexico, and Peru,” said Mary Frances McGuiness, VP of brand and marketing communications at NII Holdings. “Jones Lang LaSalle efficiently managed the process, focusing on its experience in store design, materials and roll-out to ensure that the customer experience at the stores reflects all aspects of the brand.”

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FINANCE

Sycamore Partners acquires 51% interest in Limited’s Mast Global Fashions

BY Staff Writer

New York City — Sycamore Partners, a private equity firm based in New York, and Limited Brands announced that Sycamore has acquired a controlling 51% interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands.

Limited Brands will retain a 49% stake in this standalone apparel production and sourcing company. Terms of the transaction were not disclosed. Limited Brands will retain 100% ownership of its separate sourcing operation for their intimate apparel and personal care/beauty businesses.

"Sycamore shares our values and our approach to business, and we know that they are the right partner to work with us to provide the resources necessary to expand this third-party apparel sourcing business," said Leslie H. Wexner, chairman and CEO of Limited Brands. "That expansion will benefit all of the new company’s customers, including Limited Brands. The change also enables our Limited Brands team to continue our focus on our strategic priorities – growing our intimate apparel, beauty and personal care retail brands."

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FINANCE

CVS Caremark Q3 profit climbs 7.3%

BY Marianne Wilson

Woonsocket, R.I. — CVS Caremark Corp.’s third-quarter profit rose 7.3%, to $868 million, driven by strong performances in its pharmacy businesses. Its performance topped Wall Street expectations.

Revenue for the three-month period ended September 30, 2011, rose 12% to $26.67 billion, from $23.71 billion.

Revenue in its pharmacy-services segment increased 26% $14.8 billion, boosted by a contract with Aetna Inc. and added business from the acquisition of Universal American Corp.’s Medicare prescription drug business.

Revenues in the retail pharmacy segment increased 3.8% to $14.7 billion; same-store sales rose 2.3%.

“Our retail drugstore business continues to grow and gain share while our PBM continues to demonstrate success in the selling season, with strong client retention and significant new business,” said CVS CEO Larry Merlo.

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