International Business

Forest City announced it has closed on the sale of Shops at Bruckner Boulevard in the Bronx to Urban Edge Properties for $32 million. The seller expects to net $9.2 million in the transaction.  

On pace to double its online business for fiscal 2016, apparel retailer J. Lindeberg is ready to take control of its e-commerce destiny.    The company, known for its men's and women's fashion and golf apparel and accessories, recently launched in Canada, and now has its sights set on digital expansion into North and South America. At the core of this expansion is bringing its operating platform in-house.  

Toys "R" Us has hired a veteran marketer to lead its global marketing efforts.   The retailer announced that Carla Hassan will join the company as executive VP, global chief marketing officer, effective February 20, 2017. She will report directly to chairman and CEO Dave Brandon.   Hassan was most recently senior VP, brand management for PepsiCo's Global Beverage Group, where she was responsible for driving the growth agenda for brands including Pepsi, 7UP, Mountain Dew, and Gatorade.

Starbucks Corp. is upgrading its U.S. paid parental leave plan as it seeks to hire and retain workers in an increasingly competitive labor market.    Effective Oct. 1, eligible store associates who are birth mothers will be entitled to six weeks of paid leave at 100% up from 67% average pay previously, and 12 weeks of unpaid leave.   Store associates who are non-birth parents (including fathers, spouses and foster and adoptive parents) can take up to 12 weeks of unpaid leave.    

Despite global economic fluctuations, China is still a world leader in many markets — including global e-commerce.   China’s online retail sales have grown by 33.3% to exceed $581 billion in 2015. Momentum is expected to continue, as sales in the country are expected to grow by 20% yearly through 2020, according to BizView, a B2B marketplace that enables users to connect with over seven million companies around the globe.  

Hubert Joly, chairman and CEO of Best Buy, denied a report that has him taking the helm of a European retailing giant.    A report by Reuters, which cited Brazilian newspaper Valor Economico, said that Carrefour, the world’s second largest retailer, had identified Joly as a replacement for its current CEO, Georges Plassat, whose term ends in May 2018.     

What better place is there for global exposure than the Olympic Games?   At least, that is what Alibaba is counting on now that it struck a deal to become a top sponsor of the Olympic Games through 2028. The sponsorship, which is worth $800 million, pits the brand among giants like Coca Cola Co. and Samsung Electronics Co., according to Bloomberg.  

More North American shoppers will have access to Alipay.   Through a partnership with leading luxury travel retailer DFS Group, Alipay’s in-store mobile payment service will be available in DFS’ Honolulu International Airport store, and its downtown T Galleria by DFS, Hawaii store in advance of the Chinese New Year. DFS Group launched Alipay in its airport stores in SFO, LAX, and JFK in 2016.