Opening of Label E lounge in Cambridge Square in Ooltewah and more business news


Opening of the Label E lounge in Cambridge Square

Originally from Ooltewah, Erica Alvey and Emalee Killian opened their salon, Label E, in Cambridge Square in Ooltewah.

Alvey and Killian have many years of experience in the industry and decided it was time to strike out on their own after recognizing the growing demand at Ooltewah for a premium salon experience.

“We are passionate about what we do, and when an opportunity in Cambridge Square presented itself, we knew it was time to go,” Killian said in an announcement for their new store. “This location is in the heart of our hometown, and we are thrilled to welcome both new and returning customers.”

Label E offers a number of personalized beauty services, including luxury extensions, coloring and facial waxing. Clients include women and men, with stylists specializing in both.

The new lounge is on the second floor of the newest building in the development, which also houses the 1885 restaurant.

Consumer confidence drops this month

US consumer confidence fell slightly this month, but remains high, even as prices for just about everything continue to rise.

The Conference Board, a business research group, said on Tuesday its Consumer Confidence Index – which takes into account consumers’ assessment of current conditions and their outlook for the future – fell to 110.5 in February against 111.1 in January.

Earlier this month, the Labor Department reported that for the 12 months ending in January, inflation hit 7.5%, the fastest year-over-year pace since 1982.

Strong Home Depot sales in the quarter

Home Depot saw sales remain strong in the fourth quarter as it continues to benefit from a buoyant housing market.

Sales for the three months ended Jan. 30 increased from $32.26 billion to $35.72 billion. That beat analysts polled by FactSet’s forecast by $34.88 billion.

Sales at stores open for at least a year, a key indicator of a retailer’s health, climbed 8.1%. In the United States, the measure increased by 7.6%.

Home improvement stores have been busy during the pandemic as people working from home have taken on new projects. Many have also moved into new homes with more space for home offices.

Sales of existing homes rose 6.7% last month from December to a seasonally adjusted annual rate of 6.5 million, the National Association of Realtors said Friday. That’s more than the roughly 6.08 million that sales economists expected, according to FactSet.

Musk steps up regulatory fight

Elon Musk and his lawyers are stepping up their fight with US securities regulators.

A lawyer for Musk has accused regulators of leaking investigative information, and Musk alleges on Twitter that government corruption is coming to light.

Musk’s tweet early Tuesday and a Monday letter from attorney Alex Spiro to a federal judge did not provide any details about the alleged leak from the Securities and Exchange Commission. Spiro accused the commission of retaliation against Tesla and Musk for exercising First Amendment rights.

The SEC declined to comment on Tuesday.

Hedge funds fight to buy Lee Enterprises

The hedge fund trying to buy newspaper publisher Lee Enterprises is back in court. He is seeking to settle a dispute over how the votes of two longtime board members should be counted next month at the company’s annual meeting.

Alden Global Capital has already lost a case in the takeover battle. Now he wants the court to decide how many votes Lee’s chairman and his lead independent director need to be re-elected to the board.

Lee rejected Alden’s $141 million bid to buy the St. Louis Post-Dispatch publisher Buffalo News and dozens of other newspapers in December.

Alden is already one of the largest newspaper owners in the country.

— Compiled by Dave Flessner


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