International Business

Bentonville, Ark. – Wal-Mart Stores Inc. has appointed Tom Horton, former chairman and CEO of American Airlines, as a new member of the company’s board, effective Nov. 21. Horton became the 16th member of the Board and will also serve as a member of the company’s Audit Committee.

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.   

New Albany, Ohio - Abercrombie & Fitch Co. has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement, the first in the company`s history, will encompass both the Abercrombie & Fitch and Hollister brands.  

Enhanced onmichannel capabilities were among the factors that incoming Foot Locker CEO Dick Johnson cited as contributing to the company’s increase in third quarter profits and same store sales.

Profits for the third quarter climbed to $120 million, or 82 cents per share, compared with profits of $104 million, or 70 cents per share, in the prior-year quarter. Third quarter same store sales increased 6.9% to $1.7 billion this year, compared with sales of $1.6 billion for the prior-year period.

Washington, D.C. - The National Retail Federation (NRF) supports immigration reform, but does not think President Obama’s executive action on immigration regulations is the right approach.   The NRF has issued a statement from president and CEO Matthew Shay on the announcement that President Obama will issue a series of executive actions on immigration:  

San Francisco – Gap Inc. failed to meet Wall Street expectations for net income and revenue in its third quartet as its namesake brand continues to struggle. The retailer cut its annual forecast as sales at its namesake brand continue to fall, Gap’s net income rose 11% to $351 million from $337 million, helped by lower cost of goods sold and taxes.  

The Children's Place has announced the appointment of Anurup Pruthi as senior vice president and chief financial officer effective Dec. 1.

Secaucus, N.J. – The Children’s Place Inc. has named Anurup Pruthi as senior VP and CFO, effective Dec. 1, 2014. He will report to Michael Scarpa, COO.