International Business

San Francisco – Gap Inc. experienced increases in cost of goods sold and operating expenses as sales fell during a difficult second quarter of fiscal 2015, resulting in substantial profit decline. Gap reported net income of $219 million, down 51% from $332 million in the same quarter the prior fiscal year.

L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.

Issaquah, Wash. — A consumer lawsuit reportedly accuses Costco of knowingly purchasing shrimp from Thai providers that use slave labor and then misleading the public about the practice. According to the Puget Sound Business Journal, a California woman filed the suit in San Francisco federal court.

Stage Stores Inc. lowered its profit forecast for the year and said it plans to close at least 90 underperforming stores as the retailer invests more on digital.

The retailer said it expects the closures to enhance its capital efficiency, deliver higher productivity and allow it to invest more money in the online sales product mix and technology in general.

San Juan – Puerto Rico calls to many with warm weather, beautiful beaches and friendly people. The U.S. island territory is also calling to Starbucks Corp., who is answering with a new franchise deal that will significantly expand its Puerto Rican presence.

Starbucks has signed a licensing agreement with Baristas Del Caribe LLC, an affiliate of Puerto Rican conglomerate Empresas Fonalledas. Starbucks opened its first store in San Juan, in 2002 and today has 19 stores across the island, employing more than 340 employees.

Veteran finance executive and former top Walmart executive Wan Ling Martello has joined the board of directors of Alibaba as the Chinese e-commerce giant eyes growth in the U.S.

Los Angeles – Fast-casual pizza chain PizzaRev is cutting into the Mexican market. PizzaRev has signed a franchise agreement with Grupo Galería to bring PizzaRev to Mexico.

The agreement calls for 20 PizzaRev restaurants to be developed throughout Mexico City and the states of Mexico, Nuevo León and Coahuila. The group is the largest Carl’s Jr. franchisee in Mexico and opened the first international store for PizzaRev parent company Buffalo Wild Wings outside of Canada.

Framingham, Mass. – Staples Inc. met Wall Street expectations with declining profit in the second quarter of fiscal 2015. Costs related to restructuring and the pending acquisition of Office Depot drove net income down 56% to $36 million, from $82 million in the second quarter of the previous fiscal year.

Net sales fell 5% to $4.94 billion, from $5.22 billion. North American store closures and unfavorable foreign exchange rates pushed sales totals downward. Same-store sales in North America (including online) fell 3%.