International Business

Wal-Mart Stores is giving a big boost to its Canadian operations even as Target shuts downs its failed Canadian venture.

Sidney, Neb. - Incremental expenses related to the relocation of a distribution center in Winnipeg, Canada, as well as increased promotional and advertising spending, helped drive down Cabela’s Inc. net income 2% to $78.6 million from $80.1 million in the fourth quarter of fiscal 2014.

Total revenue increased 7% to $1.3 billion, from $1.2 billion. Although increased retail store revenue fueled total revenue growth, same-store sales fell 5.5%.

As the Pacific Maritime Association prepares to shut down U.S. West Coast ports from Feb. 13-16, the National Retail Federation (NRF) is issuing a public statement asking for direct White House intervention.

Phoenix – The $8.7 billion private equity acquisition of PetSmart Inc. that was announced in December 2014 is one step closer to fruition. Argos Merger is providing a $1.9 billion senior note unsecured offering to finance the purchase.

New York -- Shipping operations will be suspended at U.S. West Coast ports over the coming long weekend, the Pacific Maritime Association announced Wednesday. The planned shut down comes amid  stalled labor talks between the companies and the union representing 20,000 dockworkers.

New York -- This special report from Chain Store Age offers a recap of the issues and trends that surfaced at the NRF’s 2015 Annual Convention & Expo (the “Big Show”).

Download the report here and read about retailing’s global outlook, the outlook for online spending, the changing luxury market, hot technology trends and more.

New York -- Target Corp. plans to lay off about 550 headquarters employees as the company winds down its Canadian operations, the Star Tribune reported Wednesday. The retailer is also eliminating 170 positions at its tech operations in India that supported the Canadian venture.

About 350 of the headquarters job are being eliminated Wednesday, with the remaining employees to be let go after Target’s stores in Canada are liquidated.

Procter & Gamble Co. has added the former CEO and chairman of Home Depot Inc. to its board of directors.

Francis Blake, 65, joins the board efefctive immediately.

The move comes just a few days after his retirement as chairman of Home Depot. He stepped down from the CEO position in November.