International Business

Overshadowed by Target’s bombshell announcement to exit Canada, the retailer said U.S. sales – and profits – were much better than expected during the holidays.

The favorable combination of increased traffic and stronger than expected digital sales enabled the company to produce a 3% same store sales increase during November and December versus an earlier forecast which called for 2% growth.

Brian Cornell, CEO and chairman of Target Corp., used the company’s A Bullseye View blog to discuss Target’s decision to shutter its operations in Canada.

Does this decision mean that Target is declaring bankruptcy?

Minneapolis – Target is calling its quits in Canada. The retailer said is closing down its troubled Target Canada business. The chain previously indicated it would review its Canadian subsidiary, which launched with great fanfare in March 2013, after the 2014 holiday season.

Beverly, Mass. - Orchard Brands, a multichannel retailer of apparel and home products focused on consumers older than 50, has partnered with Borderfree for global e-commerce. Through its partnership with Borderfree, Orchard Brands’ 13 unique online storefronts are now available to international shoppers in more than 100 countries and territories worldwide.

New York -- E-commerce in the United States in 2015 will top the $300 billion mark for the first-time ever, according to Forrester Research’s principal analyst Sucharita Mulpuru.

“This is big news,” Mulpuru said during a presentation at the National Retail Federation’s annual “Big Show” conference.  

New York -- The National Retail Federation announced that The Container Store chairman and CEO Kip Tindell has been elected chairman of the NRF board of directors and chairman of its executive committee, succeeding Stephen I. Sadove, retired chairman and CEO of Saks, Inc.  

Tindell was elected at the Board of Directors meeting held Sunday during NRF’s 104th Annual Convention and EXPO, Retail’s BIG Show.

NRF president Matthew Shay told attendees of retail’s Big Show in New York City this week that the industry is well-positioned for 2015 – with a little help from friends in Washington, D.C.

New York -- Former Coach Inc. chief Lew Frankfort has joined Sycamore Partners as an Executive in Residence, which will allow the private equity firm to tap into Frankfort’s retail knowledge, managerial expertise and network of industry relationships. Sycamore’s portfolio of retail investments includes Aeropostale, Coldwater Creek, Hot Topic, Jones New York, Nine West Holdings, Stuart Weitzman and Talbots.