International Business

The combination of an unspecified number of new stores, e-commerce and same store sales growth will enable Guess Inc., to surpass annual sales of $3 billion in three years, according to new CEO Victor Herrero.

Guess ended its most recent fiscal year with total sales of roughly $2.2 billion, but CEO Victor Herrero, who joined the company last July from Inditex, believes the company can add $800 million in worldwide volume in the next three years, despite sales and profit declines last year.

Gap Inc. CEO Art Peck was in New York on March 16 to receive the 2016 Catalyst Award from an organization focused on accelerating progress for women through workplace inclusion.

Mike McNamara, CIO of Target Corp., recently spoke on the role of today’s CIO at the Forbes CIO Summit.

McNamara has been serving as CIO of Target of eight months, having come from international grocery retailer Tesco. He shared insights such as how the rapid adoption of smartphones has been a game-changer for both consumers and corporate IT teams, the ongoing shift underway from legacy software and mainframe systems to cloud and open-source technologies, and the need to build a team of curious, analytical problem-solvers.

The personalization trend has hit the world’s largest Italian ice brand.

Rita’s Italian Ice is testing a cafe concept in Albuquerque, New Mexico. Four additional Rita's Cafe locations are in the works.

Ikea had submitted plans to build its ninth store in the state of California, in the Bay Area suburb of Dublin.

Pending approvals, Ikea could begin construction of the store in spring 2017, with an opening in summer 2018. The retailer plans to evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90% of its U.S. locations.

Less than a month after Hudson’s Bay Company brought Saks Fifth Avenue to Canadian shoppers, the company this month is opening the first of 25 planned Saks Off 5th stores.

Three new Saks Off 5th stores are scheduled to open on March 17 in Vaughan Mills, Halton Hills and Niagara-on-the-Lake, Ontario. The openings will allow Canadians to experience the ultimate "thrill of the hunt" shopping that Saks Off 5th is renowned for, with access to the some of the best brands and fantastic finds, in a fun to shop store format,” according to the company.

Charming Charlie is expanding its Middle East footprint.

The specialty retailer has opened its first location in Qatar, at the Ezdan Mall in Doha. The 2,900-sq.-ft. store is operated by Apparel Group, Charming Charlie’s international licensing partner, which has further growth planned for the brand in the Middle East this year.