International Business

H&M isn’t letting a challenging retail environment stand in the way of its physical expansion.

The Swedish retail powerhouse plans to open 425 stores in 2016, with a focus on expansion in the United States and China. The company will also enter several new markets this year, including New Zealand, Puerto Rico and Cyprus.

In addition, the chain will expand its e-commerce site to several markets, including Ireland, Japan, and Greece.

At the close of its fiscal year, H&M operated 3,924 stores in 61 markets.

Cleveland -- Forest City Realty Trust announced that its subsidiary, Nets Sports and Entertainment has completed the previously announced sale of its equity interests in both the Barclays Center arena and the Brooklyn Nets basketball team to Onexim Sports and Entertainment Holding USA. As previously disclosed, the transaction values the team at approximately $875 million and the arena at $825 million, inclusive of debt for each asset.

It was a happy holiday season at Amazon.com where fourth quarter profits more than doubled, sales increased 22% and the company handily surpassed annual sales of $100 billion for the first time.

Amazon.com said its net sales increased 22% to $35.7 billion in the fourth quarter ended Dec. 31, 2015, compared with $29.3 billion in fourth quarter 2014. With a $1.2 billion unfavorable impact from year-over-year changes in foreign exchange rates, fourth quarter sales would have increased 26%.

Action sports retailer Quiksilver and its nearly 1,000 stores are set to emerge from bankruptcy on Feb. 8, under the majority ownership of Oaktree Capital Management.

Quiksilver filed Chapter 11 bankruptcy on Sept. 9, 2015 and on Jan. 28, the company and Oaktree Capital Management issued a statement indicating that funds managed by Oaktree will convert substantial existing United States debt holdings into a majority of the stock in the reorganized company on exit.

London -- CBRE Group Inc. has appointed Mark Burlton as Global Executive of its Retail Occupier team, EMEA. Burlton will lead the development of CBRE’s Retail Occupier business in Europe, as well as advising its European retail clients on expansion into the US and Asia, and international retailers into Europe.

Burlton will be based in London and work closely with Peter Gold, head of cross border retail, EMEA and David Close, senior director, EMEA occupier cross border. He will also join CBRE’s Global Retail Executive Group.

Alimentation Couche-Tard Inc. has appointed Claude Tessier as its CFO, effective Jan. 28. The leader in the Canadian convenience store industry, Couche-Tard is the largest independent convenience store operator in the United States terms of number of company-operated stores.

The industry veteran joins Couche-Tard from Canadian grocer Sobeys Inc., where he was president of the IGA Operations Business Unit.

A timely acquisition helped Coach Inc.’s post a sales gain in the second quarter — its first quarterly increase in 10 quarters.

The handbag and accessories retailer’s total sales increased 4.0% in the quarter ended December 26, to $1.27 billion, up from $1.22 billion in the year ago period.

In the name of creating a more efficient and focused organization, Staples announced several key senior leadership moves while its acquisition of rival Office Depot appears in jeopardy.

Shira Goodman, currently president, North American commercial, has been named president, North American operations with responsibility for Staples’ business-to-business, online and retail operations across the United States and Canada.

In the name of creating a more efficient and focused organization, Staples announced several key senior leadership moves while its acquisition of rival Office Depot appears in jeopardy.

Shira Goodman, currently president, North American commercial, has been named president, North American operations with responsibility for Staples’ business-to-business, online and retail operations across the United States and Canada.