International Business

Hangzhou, China – Alibaba Holding Group Inc. is reportedly considering a cash investment in Indian e-commerce platform Snapdeal. According to Reuters, Alibaba is in ongoing negotiations with Snapdeal, but no agreement is imminent.

Alibaba does not hold any direct investments in India, although Alibaba subsidiary Ant Financial purchased 25% of Indian payment services provider Paytm in February 2015.

Phoenix – PetSmart on Wednesday named industry veteran Michael J. Massey as its president and CEO, effective immediately. Massey, who most recently served as CEO and president of Collective Brands Inc., replaces David Lenhardt, who stepped down upon the closing of private equity firm BC Partners’s acquisition of the pet supplies retailer.  Also, BC Partners managing partner Raymond Svider has been appointed non-executive chairman.

Dublin, Calif. -- Ross Stores recently opened 32 Ross Dress for Less stores and five dd’s Discounts locations across 15 different states. The openings are part of the off-price retailer’s 2015 expansion plans to open a total of approximately 90 stores in 2015 (70 Ross and 20 dd’s Discounts).

Cary, N.C. -- The Pantry moved one step closer to its merger with Canada’s Alimentation Couche-Tard as Pantry stockholders approved the merger agreement at a special meeting on March 10.

The stockholders cast 19,725,407 votes for the deal and 71,442 votes against the deal, with 34,806 abstaining, according to documents The Pantry filed with the U.S. Securities & Exchange Commission (SEC).

Dallas -- Neiman Marcus Group swung to a profit in the second quarter, helped by a 15% increase in online sales and its acquisition of Germany luxury online retailer MyTheresa.

The upscale retailer reported a profit of $27.8 million in the quarter ended Jan. 31, compared with a loss of $84.0 million in the year-ago period. (Neiman’s loss last year was partially credited to expenses related to

Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Same-store sales and online sales rose 5.6%.

Neiman Marcus got a boost in the second quarter from its October purchase of mytheresa.com, a German luxury e-retailer.

For the 13 weeks ended Jan. 31, the company reported a profit of $27.8 million, compared with a year-earlier loss of $84 million. Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Sales at stores open more than a year and online rose 5.6%.

San Francisco -- Gap Inc., Petco Animal Supplies, Levi Strauss are the only U.S. retail brands to be recognized by the Ethisphere Institute as a 2015 World’s Most Ethical Company.

The annual designation, which recognizes organizations that foster a culture of ethics and transparency at every level of the organization was given to 132 companies. The only other retail brands on this year’s list are Sweden’s H&M and the United Kingdom’s Marks and Spencer.

Goodlettsville, Tenn. -- Dollar General isn’t letting its failed bid for rival Family Dollar slow its momentum. On Saturday, Dollar General announced it is entering three new states: Oregon, Maine and Rhode Island. The expansion will give it stores in a total of 43 states nationwide.

Dollar General already operates more than 11,700 stores, but entry into the three new states gives it more greenfield expansion opportunities to pursue while Dollar Tree is busy integrating the recently acquired Family Dollar chain.

Jackson, Miss. – Newk’s Eatery is entering the San Antonio, Texas area as part of a broader expansion plan that includes 30 new franchise and corporate stores in 2015. The fast-casual dining chain has signed a franchise agreement with Stephen Kuehler, who will lead the chain's expansion into the San Antonio area.

San Jose, Calif. – PayPal has reportedly purchased CyActive, an Israel-based provider of predictive cybersecurity technology, for $60 million. According to Israeli media outlet Globes, CyActive uses an algorithm based on biology to forecast cyberthreats.