International Business

The ongoing quest of Sears Holding Corp. to leverage its vast real estate portfolio helped pave the way for British fast-fashion retailer Primark to enter the United States, giving the import access to space in malls throughout the Northeast.

In late 2014, Primark struck a deal with Sears to lease a total of approximately 520,000 sq. ft. in seven Sears mall-based locations. All the space is expected to be delivered to Primark by the end of 2015.

Over the past 15 years or so, fast-fashion has evolved from a trend to a phenomenon to an industry standard — one that has largely redefined the U.S. apparel retailing landscape.

From home-grown Forever 21 to Swedish import H&M, the market is awash in stores offering cheap, on-trend clothes at low prices. And now another import has entered the mix, Primark, which opened its first U.S. store in September, in Boston, the first of eight initial locations.

June 2, 2015: David Brandon is named chairman and CEO, effective July 1, succeeding the retiring Antonio Urcelay.

November 2013: Former Walmart executive Hank Mullany is named president of Toys “R” Us, U.S.

October 2013: 17-year Toys “R” Us veteran Antonio Urcelay is named chairman and CEO after serving in an interim role for five months.

The convoluted ownership history of Petco has just taken an interesting new turn that cost $4.6 billion.

According to a statement release by Petco, funds affiliated with CVC Capital Partners and the Canada Pension Plan Investment Board (CPPIB) entered into a definitive agreement to jointly acquire Petco from a group of investors led by TPG and Leonard Green & Partners for approximately $4.6 billion. The acquisition of the 1,400 store retailer is expected to close in early 2016.

Destination XL says it is on pace to open its 175th store next year as the big and tall retailer also posted a jump in same-store sales and filled a newly created position with a veteran from Genesco.

For the third quarter ended Oct. 31, same store sales at the company increased 4.3%. Destination XL also narrowed its loss to $5.47 million, or 11 cents a share. In the previous year period, the company reported a loss of $6.28 million, or 13 cents a share.

How many retailers have boasted of record sales and earnings in the third quarter? So far the answer is only one (hint: It hosts a bra and panty show on national television every fall).

A steep profit decline and deteriorating sales at two of Gap Inc.’s three flagship formats in the third quarter have CEO Art Peck looking ahead to what he expects to be better times.

Columbus, Ohio -- WP Glimcher announced CEO Michael P. Glimcher has been named to the National Association of Real Estate Investment Trust’s (NAREIT) 2016 executive board. Glimcher previously served as chair of NAREIT’s Audit/Investment committee.