International Business

With the retail CFO’s role evolving so quickly in the last few years, what changes will the future bring? Look for CFOs to be hired from outside the company, oversee more divisions and spend significant time overseas in an increasingly global retail world.

The finance function, of course, will continue to be critical, especially for public companies.

Also the CFO role may encroach further on operations, particularly in an era of consolidation — store closures necessitated by mergers likely will fall under the domain of the CFO.

Aussie apparel brand Cotton On is as much about fun-fashion as it is about fast-fashion. The Geelong, Victoria-based brand operates more stores in the United States (124) than Zara and Uniqlo combined, and is an international behemoth with more than 1,300 stores operating globally under 10 different banners, including the 522-unit Cotton On, Cotton Body, Cotton On Kids, FREE by Cotton On and Rubi Shoes.

Growth has been fast and strategic, but peppered with humor, optimism and the occasional dose of controversy.

Coach has announced that executive chairman Lew Frankfort plans to retire upon his term’s expiration. He will not stand for re-election to the board at the company’s annual meeting of stockholders in November.

The company intends to bestow upon him the honorary title of chairman emeritus at that time.

Sears Canada president and CEO Douglas C. Campbell has resigned his spot so he can return to the United States by the end of the calendar year to tend to personal family issues. The board will commence a search for a new CEO immediately.

Campbell intends to continue as the CEO until Sears Canada names a replacement, but no later than January 1, 2015.

New York -- Woolrich, the Pennsylvania-based outwear and lifestyle brand, has opened its first-ever freestanding store, in New York’s SoHo neighborhood. The move follows the recent opening of three Woolrich stores in Europe, including a store in Hamburg, Germany, and Prague.

Tory Burch, an upscale women’s apparel and accessories company, has appointed former Ralph Lauren executive Roger Farah co-CEO, sharing the title with founder and current CEO Tory Burch, who will remain chairperson.

New York -- Upscale women’s apparel and accessories company Tory Burch named longtime retail veteran Roger Farah co-CEO as the fast-growing brand looks to expand into a global player. He will share the title with founder and current CEO Tory Burch who will remain chairman. Burch is also the company's largest shareholder.

Northbrook, Ill. - Pine Tree Commercial Realty LLC has acquired Riverbend Marketplace, a regional shopping center located in Asheville, North Carolina, in partnership with Wanxiang America Real Estate Group. The 142,617-sq.-ft. shopping center is shadow-anchored by Walmart, anchored by Kohl’s and Petsmart, and features 110,715-sq.-ft. of national best-in-class retailers.