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International Business

  • Wal-Mart names new chairman as Rob Walton steps down

    Bentonville, Ark. -- Wal-Mart Stores announced that board chairman Rob Walton is stepping down and will be succeeded by vice chairman Greg Penner, who is Walton's son-in-law. Walton relinquished the position of chairman at the company's annual meeting on June 5.

  • No end in sight for Lands' End sales troubles

    Lands’ End Inc. reported profit and sales declines in the first quarter as the retailer grappled with West Coast port delays and headwinds from foreign exchange rates.

  • Michaels weaves strong profits in Q1

    Irving, Texas – Net income at the Michaels Companies Inc. skyrocketed 47% to $67 million in the first quarter of fiscal 2015 compared to $45 million in the same quarter a year earlier. A large drop in interest expense helped fuel strong profit growth.

    Net sales climbed 2% to $1.08 billion, from $1.05 billion. Same-store sales rose 0.3%. Michaels said unfavorable weather and a strong U.S. dollar hindered sales growth.

  • Report: Target lays off 180 Indian workers

    Minneapolis – The corporate restructuring that has led Target Corp. to lay off 17.600 Canadian workers and 2,200 U.S. workers has reportedly hit the retailer’s Indian operation. According to the Minneapolis/St. Paul Business Journal, Target has laid off 180 Indian employees and closed 125 open positons in India this week.

    Target has pledged to eliminate several thousand positions, many from its corporate headquarters in Minneapolis, as part of a $2 billion restructuring plan instituted by CEO Brian Cornell.

     

  • Same store sales rise at Costco in May

    Costco reported a bump in U.S. same store sales for the month of May, but international comps declined.

  • H&M to enter India in fall 2015

    Stockholm, Sweden – Sweden-based global specialty apparel retailer H&M is planning to open its first store in India in fall 2015. The 25,000-sq.-ft. store will be located in New Delhi.

    H&M, which currently operates more than 3,600 stores in 58 global markets, may open as many as 50 new stores in India during the next few years.

  • Charming Charlie opens New York flagship, will expand globally

    New York - Charming Charlie has unveiled its first New York City flagship store. Situated on Fifth Avenue, the flagship is a showcase for the brand's new store concept, and was designed in partnership with Callison Architects.  

  • Ace Hardware names new IT chief

    Ace Hardware Corp. has promoted a 25-year employee to the position of vice president of information technology. 

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