International Business

After an 18-month hiatus on expansion, Amazon.com is reportedly preparing to roll out its AmazonFresh grocery delivery service to new markets including Boston and the U.K.

According to Re/Code, Amazon had initially planned to introduce the service to U.K. customers in 2015.

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The National Retail Federation (NRF) is saying thanks to representatives in Congress who back retailers on important issues.

Foot Locker Inc. saw net income reaching unprecedented levels during the first quarter of fiscal 2016, although sales growth missed Wall Street expectations.   Net income rose 4% to $191 million, from $184 million. Higher pretax income offset a slight increase in income tax expense, resulting in the profit boost. Sales also climbed 4% to $1.99 billion, from $1.92 billion. Same-store sales rose 2.9%.  

Moving forward with its promise to streamline its business model, Gap Inc. said it plans to close its fleet of 53 Old Navy stores in Japan and also shutter some Banana Republic stores, primarily outside of North America.

The retailer announced the moves on Thursday in its first quarter results, which marked the chain's fifth straight quarter of lower revenue and profit. The company also said it would not reaffirm its earnings guidance for the fiscal year.

While other retailers make news by posting grim first quarter results and closing stores., the nation’s leading off-price retailer is making headlines by doing just the opposite. Amid strong first quarter results that included a 7% rise in same-store sales, TJX Cos. said it plans to open about 150 more stores during the rest of this year, on top of the 47 stores it opened in its first quarter.

Starbucks Corp. has turned to the bond market to fund its sustainable-coffee efforts. The chain issued a $500 million U.S. corporate sustainability bond to fund projtects that will support ethical coffee sourcing. The 10-year, 2.45 percent senior notes, due 2026, will fund programs that ensure coffee is grown and distributed in a way that can be maintained over the long run, such as providing fair pay for workers and protection for wildlife.

In a quarter of strong home improvement demand, Mooresville, North Carolina-based Lowe’s reported net earnings of $884 million for the quarter ended April 29, a 31.4% increase over the same quarter lat year. Sales for the quarter increased 7.8% to $15.2 billion. Comp-store sales increased 7.3% overall, and increased 7.5% for the U.S. business.

Lowe’s takeover of Canadian home improvement chain gets regulatory OK With regulatory hurdles out of the way, Lowe's Cos. is one step closer to completing its acquisition of Canadian home improvement retailer Rona Inc. Lowe's has officially been granted approval under the Investment Canada Act and clearance from the Competition Bureau. Rone operates nearly 500 stores in Canada.