International Business

Zaandam, Netherlands – Global grocery conglomerate Ahold N.V. had a successful first quarter of fiscal 2015, reporting growth in overall net income and in U.S. market share. Net income more than quadrupled to $230.74 million from $54.16 million, aided by the elimination of discontinued operations from the same period a year earlier.

London - Michael Kors Holdings Ltd. has named Marcel Ostwald to the newly created role of senior VP, menswear. Ostwald spent the last 11 years at Hugo Boss, where his most recent title was senior head of creative management and concept design for Boss Sportswear.

Ostwald’s appointment, effective Aug. 1, fills a key role in Michael Kors’ growing menswear business. Ostwald will work closely with Michael Kors and Mark Brashear, president of menswear, in developing the creative brand strategy and product vision for the men’s division.

The stronger dollar hurt Tiffany and Co. in the first quarter, but the retailer's new efforts to woo ultra-wealthy shoppers helped offset weakness in its tourist business.

New York – Tiffany & Co. overcame the negative impact of a strong dollar on global performance to beat Wall Street with smaller-than-expected declines in net earnings and sales during the first quarter of fiscal 2015. Net earnings declined 17% to $105 million from $126 million a year earlier, with increased marketing spending contributing to the decrease.

AutoZone just logged its 35th consecutive quarter of double digit earnings per share growth, proving again that it is like the Honda Accord of the retail industry – a reliable performer that stirs emotions among those with an appreciation for consistency.

New York -- Saks Fifth Avenue Off 5th will open its first metro downtown store, on Market Street in downtown San Francisco. The new 40,500-sq.-ft. store will celebrate its grand opening on May 28.

“This store is the first Saks Fifth Avenue Off 5th store in a city center, and we believe San Francisco is an ideal location as we begin to expand into metropolitan markets,” said Jonathan Greller, president of outlets, Hudson’s Bay Company, parent company of Saks.
 

Nordstrom is looking to increase its capital efficiency by selling its credit card portfolio to a Canadian bank.

Nordstrom and Toronto-based TD Bank Group announced an agreement under which TD will acquire Nordstrom's existing U.S. Visa and private label consumer credit card portfolio, which currently totals about $2.2 billion in receivables. Terms of the purchase were not disclosed.

Atlanta - Hooters of America LLC has finalized an agreement with global commercial real estate services firm Colliers International to have the firm advise Hooters on real estate needs and provide strategic counsel as the brand expands domestically and internationally. Colliers International’s Bob Browning, VP for retail services, and Robert Hantgan, senior VP, are managing the exclusive assignment.