International Business

The failure of President Trump and the Republicans in Congress to repeal and replace the Affordable Care Act was shocking enough for business owners but it is the road ahead that should give operators some real heartburn.  

A new deal could give Amazon a foothold in the Middle East.   Amazon has agreed in principle to buy Souq.com, a leader in the Middle East's online shopping market, according to a report in Reuters.   

Adidas Group wants to kick off its expansion in China on the right foot.   The sportswear brand plans to bolster its retail sales network to 12,000 outlets in China by 2020, with much of the growth slated for smaller cities. However, the company also knows that conducting international trade within China can be difficult and complex due to challenges presented by huge import and export volume, and minimal advance notice of regulatory changes.  

Starbucks Corp. is ramping up its job hiring, here and abroad. It’s also doubling down on its commitment to the nation’s veterans.    Hosting its 25th annual shareholders meeting in Seattle, the coffee giant announced plans to create more than 240,000 jobs around the world, including 68,000 jobs in the United States, by 2021.  

La Madeleine, the country French-inspired bakery-café, is turning to a new growth strategy that includes selling its corporate owned stores to fast track its expansion.  

A strong performance in Asia helped Tiffany & Co. beat fourth quarter expectations even as sales as its U.S. stores sagged.   The luxury jeweler reported net income of $157.8 million, or $1.26 per share, for the quarter ended Jan. 31, compared with $163.2 million, or $1.28 per share, in the year-ago period. Adjusted for asset impairment costs, per-share earnings were $1.45, beating the per-share earnings of $1.37 that industry analysts had expected.  

Canada-based convenience store operator Alimentation Couche-Tard posted net earnings of $287 million in the third quarter of its fiscal year, up 4.7% from the previous-year period.   Same-store merchandise sales fell by a point in Europe, but were up 1.9% in the U.S. Same-store gasoline sales volumes rose 2.8% stateside.   Couche-Tard’s global rebranding of its Circle K stores proceeded at a quick pace during the quarter, with more than 1,000 U.S. stores completed.  

In a move that will help it focus on its North American stores, Staples is selling its Australia- and New Zealand-based operations.   Staples announced Tuesday, March 13, that private equity firm Platinum Equity will acquire these stores for an undisclosed sum. The transaction is expected to close in the second calendar quarter of 2017.