International Business

Today, when it comes to adding new members to your board of directors, creating a balance between industry experience and innovation is extraordinarily important. Filling board seats with industry veterans and compliance experts may feel comfortable in the short term, but to adapt to today’s savvy and demanding consumer, companies must be more forward thinking.

We’ve all witnessed the recent evolution of the C-suite — companies bringing in new, young talent, often from other industries, to modernize a brand, enhance the store experience or to leverage technology.

The J.C. Penney Co Inc. is reportedly developing a new IT facility in a popular overseas location.   

Adidas is doubling down on its relationship with Kanye West, the outspoken entertainer who doubles as a fashion designer.    The German sportswear giant and West are expanding their very successful Yeezy brand via a new partnership called adidas + Kanye West. The Yeezy-branded collection will consist of footwear, apparel and accessories for all genders that will work across street and sport.    

The recent vote by the United Kingdom to leave the European Union will have the biggest retail impact on companies that have high U.K. exposure, including U.S. off-price giant TJX Cos., MarketWatch reported.    Swedish fast-fashion giant H&M is also among the retailers to be most impacted. The United Kingdom is the company’s third largest market, behind Germany and the United States. 

Newk’s Eatery is on the move.   The fast-casual restaurant chain is expanding into Central Florida, with plans to open 10-12 corporate-owned locations in the Orlando area over the next five years. The expansion is part of the company’s long-term goal to open more than 200 locations by 2018.     Construction is underway on the first Orlando-area restaurant in the Waterford Oaks shopping center, owned by BluRock Development. It is slated to open in mid-August.     

The demise of the American mall is greatly exaggerated, held Sandler O’Neill analyst Alexander Goldfarb during a discussion of Brexit on CNBC.   “Dead mall stories are great, but when it comes time to drive earnings cash flow in stocks, that’s where those big powerhouse malls show through,” Goldfarb said. “For the global investor looking for safety and security, [it’s] U.S. real estate.”  

Retail store expansion could get a boost from lower rents in the next 12 months as real estate investment trusts react to volatility in global financial markets, according to Pacific Investment Management Co.   In a report titled, “U.S. Real Estate: A Storm Is Brewing,” PIMCO portfolio managers John Murray and Anthony Clarke forecasted a drop of as much as 5% in commercial real estate prices due to a confluence of factors including public market volatility, tightened regulations, and uncertain foreign capital flows.

Walmart Canada has appointed Lee Tappenden, COO, Walmart Canada to the position of president and CEO, Walmart Canada, effective Aug. 15.   Tappenden joined Walmart in 1996 and has held a number of global leadership roles with the company, including chief merchandising officer with Walmart Japan and VP of merchandising for the international division.