International Business

Under Armour on Tuesday reported a drop in profit for the second quarter, related to the closing of The Sports Authority. The athletic wear brand also revealed plans to plant its banner on prime real estate in Manhattan.    

The world’s biggest online retailer took a big step to move drone deliveries forward.   Amazon has entered into a partnership with the British government that will allow the retailer to test and develop new drone delivery systems.  

Five specialty retailers are deploying a cross-border shipping solution to make it easier for international customers to buy from their sites.   The retailers — Evolue, Kathy Kuo Home, The Land of Nod, The New York Times Store and Soludos — are expanding their online reach through the Pitney Bowes Borderfree solution. The technology and cross-border shipping services enable global shoppers to simply and conveniently buy items online in over 70 currencies from more than 220 countries and territories.  

Online retailers who hope to sell their goods to British consumers should take heed when it comes to listing the price.   A survey by online translation agency revealed that 80% of the British consumer public refuses to buy from websites that do not post their prices in British pounds.  

New store formats loom large in Starbucks Corp.’s long-term strategy.   The coffee giant on Monday announced that Cliff Burrows, who has headed up Starbucks' Americas business for eight years, will lead a new group within the company called Siren Retail. In the role, Burrows will oversee the global expansion of the chain’s new Roastery concept, as well as the development of the upscale Starbucks Reserve stores. http://www.chainstoreage.com/article/coffee-giant-two-new-store-expansion-moves  

CBL & Associates announced it has completed a $66.5 million sale of two malls in Michigan — The Lakes in Muskegon and the Fashion Square Mall in Saginaw. The identity of the buyer was not disclosed.   CBL president and CEO Stephen Lebovitz said the Michigan sales were part of a long-term plan to move to a portfolio of higher quality, higher-growth portfolios.   

The Federal Trade Commission has given its blessing to a deal that creates the fourth largest supermarket company in the United States.   Delhaize Group, owner of Food Lion, and Royal Ahold NV, owner of Stop & Shop, on Sunday completed their $29 billion merger after they received regulatory clearance by the Federal Trade Commission.   

Influential and longtime Walmart executive Don Soderquist died after complications related to heart surgery. He was 82.   Soderquist joined Walmart in 1980 as executive VP of administration and logistics and was a driving force behind the company’s growth. From 1988 to 1999, he served as vice chairman and COO. He retired in 2000 and remained on the Walmart board until 2002.