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International Business

  • Home furnishings retailer expanding in Southeast

    Ikea is submitting plans to the City of Norfolk, Virginia, to open a 331,000-sq.-ft. store.   Pending approvals, construction of the proposed store could begin in spring 2017, with an opening in summer 2018. The retailer said it would evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90% of its U.S. locations.  

  • Luxury department store looking for a buyer

    Neiman Marcus is searching  for a buyer or investor, the New York Post reported.     Neiman Marcus CEO Katz recently visited China and while there met with potential buyers, including Anbang Insurance Group, which passed on an offer to buy the retailer,  the report said.  

  • Walmart makes big move in China with stake in Internet giant

    In a big step to grow its business in China, Walmart has entered into an agreement to acquire a 5% stake in JD.com, China’s second largest e-commerce company. 

  • Wal-Mart Stores sets bullish sales target

    Wal-Mart Stores sent out a message to naysayers who say the chain’s best days are behind it.    Speaking at the Consumer Goods Forum conference in Cape Town, South Africa, Wal-Mart CEO Doug McMillion said the retailer expects to add $45 billion to $60 billion of new sales during the next three years.  

  • Report: Amazon to change some Marketplace fees

    Amazon.com is reportedly going to make it easier for third-party sellers on its Marketplace platform to sell certain items.  

  • Plenty of room for women at the top in retail

    A Swedish retail giant that excels in fast-fashion is also a leader when it comes to breaking the glass ceiling. But a U.S. merchant is not that far behind.   

  • Outdoor retailer expands business potential with data analytics

    Arc’teryx Equipment, a Vancouver,Canada-based specialty retailer of high-performance outerwear and goods, is all about helping customers achieve their maximum potential.   The retailer has decided to take that same performance-driven ethos and apply it internally with help from visual analytics technology provider Qlik. Arc’teryx is using the Qlik visual analytics platform to transform its operational efficiencies and expand its global footprint.   

  • Wal-Mart’s U.K., China and Canada units all getting new CEOs

    Wal-Mart Stores is undertaking a series of executive changes at its international divisions, starting with a new head for its struggling United Kingdom business, Asda.
     
    Andy Clarke, president and CEO of Asda, will step down on July 11, after having worked at the British company for more than 20 years. Asda has been under heavy competitive pressure and has reported seven straight quarterly sales declines.

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