International Business

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.

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.

 

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

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.

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

Vernon, Calif. - True Religion Apparel Inc. has named John Ermatinger CEO, effective immediately. Current CEO David Conn is stepping down.

Ermatinger has been serving as True Religion’s interim senior VP of global sourcing and production will build on the strategic initiatives that have been implemented since TowerBrook’s acquisition in July 2013 and will guide the company into its next phase of development.

The architect of the reinvention of Domino's Pizza will become the next CEO of Toys"R"Us in July.

David A. Brandon will succeed Antonio Urcelay, as he is retiring from the company.

Brandon, 63, has deep experience in growing businesses, developing talent and building high-performance cultures that enable organizations to create and capture value.