International Business

Plano, Texas -- Rent-A-Center announced the resignation of company veteran Mitchell E. Fadel, president and COO, effective Aug. 28.

Fadel is leaving to join EZCORP, where he will be president, U.S. Pawn. In his new position, he will lead the company's pawn businesses in the United States.

Seattle -- Finally some good news in the department store sector.

Nordstrom Inc. on Thursday reported better-than-expected fiscal second-quarter earnings and sales.

The retailer reported net profit of $211 million, or $1.09 a share, for the quarter ending Aug. 1, up from $183 million, or 95 cents a share, in the year-ago period.

Nebraska-based sportings goods retailer Cabela’s has appointed the former CEO of Coors to its board.

The company announced that Peter S. Swinburn has been named to its board of directors.

In a week in which many of the nation's major department stores reported disappointing financial results, Nordstrom showed once again how to drive sales growth.

The Washington-based retailer reported that total sales rose 9.2% from the same quarter in 2014, while same store sales rose 4.9%. The company posted a profit of $211 million, or $1.09 a share, compared with $183 million, or 95 cents a share, a year earlier. Revenue, which includes revenue from its credit cards, rose 9% to $3.7 billion. 

At a time when the Chinese currency is being devalued and Macy’s financial results are disappointing investors, the company is forming an exclusive partnership with Alibaba.

New York -- Two retail and consumer product goods veterans have joined Target's board of directors.

The company announced Wednesday that its board of directors elected Donald R. Knauss, former executive chairman and former chairman and CEO of the Clorox Company, and Robert L. Edwards, former CEO of Safeway Inc., as new directors, effective immediately.


Cincinnati -- Macy’s on Wednesday announced several key initiatives to drive its growth going forward, ranging from new store ventures to digital efforts to an international foray.

New York -- As Costco Wholesale inches closer to opening its first location in France, the retailer may not find the country such an easy target by any measure, reported the Seattle Times.

In France, Costco will find itself on the doorstep of hypermarket giants Carrefour, Auchan and Casino, which run huge stores selling a dizzying assortment of food and other products, according to the report.

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