International Business

New York -- H&M will open its largest store in the world, in Manhattan’s Herald Center, on May 20. The 63,000-sq.-ft. store, located at the southwest corner of 34th Street where Broadway and Avenue of the Americas converge, will be the fast-fashion giant’s 13th location in Manhattan. To celebrate opening day, music superstar John Legend will perform and cut the ribbon and twenty lucky winners will be chosen at random for a meet and greet.

New York -- Alibaba Group Holding Limited on Thursday announced that its CEO, Jonathan Lu, will step down and will be replaced by COO Daniel Zhang, effective May 10. Lu will remain on the company's board as vice chairman.

Global Brands Group named former Ann Taylor and May Company executive Adrienne Lazarus as CEO of The Frye Company, one of the holding company’s premier controlled brands and what Lazarus contends could become an American global lifestyle brand.

The company said the appointment of a veteran retailer such as Lazarus reflects a strategic focus on the 150 year old brand.

Toronto -- Saks Fifth Avenue Off 5th has announced its first three store locations in Canada as it prepares to enter the Canadian marketplace next year.

The retailer will open stores in Tanger Outlets, Kanata (a suburb of Ottawa); Outlet Collection at Niagara, Niagara-on-the-Lake; and Vaughan Mills, Vaughan (just north of Toronto) in spring 2016. The three stores are the first of up to 25 locations that Saks Fifth Avenue Off 5th plans to open nationwide.

Merriam, Kansas -- Ikea announced it had officially plugged-in Kansas’ largest rooftop solar array, atop its recently opened store in Merriam. The 92,000-sq.-ft. solar array consists of a 730.17-kW DC system, comprised of 2,394 panels, and will produce approximately 986,800 kWh of electricity annually for the store, the equivalent of reducing 680 tons of carbon dioxide (CO2).

Kohl’s is showing its customers that it cares about the recent earthquake in Nepal by making a large donation through its Kohl's Cares program.

The retailer is awarding a $50,000 cash grant toward earthquake relief efforts in Nepal. Kohl’s is providing this donation to the American Red Cross, which is delivering much-needed emergency supplies and services in the impacted areas.

Ann Arbor, Mich. - Domino's Pizza has opened in its third new market so far in 2015, as the first Domino's store in the Republic of Georgia opened the capital city of Tbilisi. Domino's Pizza in Georgia is a joint venture between Turkven, Domino's master franchisee in Turkey, and Geo Pizza LLC, led by CEO Tea Shengelia.

Oak Brook, Ill. – McDonald’s Corp., which recently reported a 33% year-over-year decline in profits for the first quarter of fiscal 2015, is revealing the first steps of its turnaround plan. Beginning July 1, 2015, McDonald's will operate under a new organizational structure with the following market segments:

• U.S.: The company's largest segment, accounting for more than 40% of the Company's 2014 operating income;