International Business

Chain Store Age recently spoke with Alison Paul, vice chairman, Deloitte LLP and retail and distribution leader, about the expanding role of the CFO in retail organizations:

How has the role of the CFO in retail organizations changed?

Cupertino, Calif. – Apple Inc. is planning to open six new stores in China, judging by advertisements for store managers the company has posted on its Chinese website, Bloomberg reported. The company is seeking store managers for units the Chinese cities of Tianjin, Chongqing, Wuxi, Zhengzhou, Shenyang, and Hangzhou, none of which currently has an Apple-owned retail outlet.

Conshohocken, Pa. – Ikea has plugged-in an expansion of the solar array completed in April 2013 on the roof of its 1.7 million-sq.-ft. Perryville, Maryland, distribution center. Installation of the new panels began in fall 2013, and since then have nearly doubled the size of the original project.

Hamilton, Bermuda -- Signet Jewelers Ltd. on Tuesday announced that Theo Killion, CEO and president of its newly acquired Zale division, has resigned, effective July 31.

Killion had been tapped to lead Zale as a separate division within the company, Signet said when the deal closed in late May. George Murray, Signet's current chief integration management officer, has been promoted to president of the Zale division and will succeed Killion upon his departure.

ConAgra Foods has completed expansion of its Lamb Weston frozen potato facility in Boardman, Oregon. The $200 million investment announced in 2012 adds a new processing line to the plant, increasing capacity for making french fries and other frozen potato products, and also adds more than 100 jobs to the local economy.

During a special grand opening ceremony held last week, Lamb Weston employees were joined by representatives from Columbia River Enterprise Zone, Port of Morrow, city of Boardman, Morrow County and state of Oregon.

Both sides of a West Coast labor dispute are entering extra time as the contract between the Pacific Maritime Association and the International Long Shore and Warehouse Union officially expired June 30.

As expected, both sides are negotiating in an effort to avoid the economic damage from a costly strike on the docks that, according to a recent study, could cost as much as $2.5 billion per day. 

Players from 32 countries have poured into Brazil for a month-long contest of extraordinary soccer skill, known as the Copa do Mundo, the 2014 FIFA World Cup. Cheering them is expected to be a total of some 3.7 million fans and tourists, adding an astonishing $3.3 billion USD ($6.7 billion Brazilian Real) to this nation’s economy. According to Brazil’s Ministry of Tourism, the average foreign visitor will attend four Copa do Mundo matches and spend approximately $2,488 during their stay.

Pittsburgh - American Eagle Outfitters Inc. is entering the U.K. with the opening of three new company-owned stores. The stores will be located in the Bluewater mall in Kent, England, as well as the Westfield Group’s London and Stratford City shopping centers in London, England.

The stores opening in the Westfield centers will include an aerie presence in shop-in-shop form. All of the stores are expected to open during fall 2014.

Online retailer Gilt has added Adrianne Shapira to the company's board of directors.

Shapira has served as the CFO of David Yurman, a fine jewelry luxury brand, since 2012. She is a member of the executive committee that looks to build upon David Yurman's successes by capitalizing on future channel, category and geographic growth.  

TreeHouse Foods plans to acquire Flagstone Foods, a leading provider of private-label healthy snacks, one of the fastest growing on-trend categories in the food industry.

TreeHouse has agreed to pay Gryphon Investors and other shareholders $860 million in cash for the business, subject to an adjustment for working capital.