International Business

While food and consumable retailers are struggling to pass along price increases and grow same stores sales, luxury retailer Tiffany is having little difficulty with either metric.

New York – Profit and revenue for Tiffany & Co. exceeded Wall Street predictions during the second quarter of fiscal 2014. Net earnings rose 16% to $124 million from $107 million in the second quarter of the previous fiscal year, which the retailer attributed to worldwide net sales growth and gross margin improvements.

Worldwide net sales increased 7% to $992.9 million, from $925.9 million. Strong performance in the colored diamond and statement jewelry categories helped drive sales.

Miami -- Burger King Worldwide agreed to buy Canadian quick-serve chain Tim Hortons for approximately $11.4 billion, creating the world’s third largest quick-serve restaurant company. Under a tax inversion deal, the corporate headquarters of the new company will be in Canada, where the combined company’s biggest market will be.  

Sandy Kennedy, president of the Retail Industry Leaders Association (RILA), has offered her two cents on the standoff surrounding the union negotiations at the West Coast ports.

Kennedy addressed a letter to the heads of the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU), speaking on behalf of retailers who are experiencing uncertainty and instability over the ongoing conflict.

Toronto - Hudson’s Bay Company has appointed John Caplice to the position of senior VP treasury and investor relations, effective Sept. 2. He most recently served as senior VP treasurer & investor relations at Shoppers Drug Mart Corp. from 2000-2014.

While at Shoppers Drug Mart, Caplice was responsible for treasury and compliance activities, as well as developing and implementing communication strategies.

Caplice will be based in Toronto and will report to Paul Beesley, CFO, Hudson’s Bay Company.   

New York - Imports to the U.S. were up in July from June, and there was a measurable year-over-year increase. According to a new report from supply chain research firm Panjiva, July 2014 showed levels of imports 2% higher than imports in July 2013.

San Paulo, Brazil -- NCR Corporation announced that Formosa Supermarket, one of the biggest supermarket chains in Brazil, chose an NCR hardware solution to expedite service in its stores.

Formosa Supermarket enjoys some of the highest revenues per store and by checkout in Brazil. Increased store activity, combined with hot and humid weather conditions required Formosa Supermarkets to incorporate a solution that not only handled large volumes but could also stand up to the climate.

Arlington, Va. -- The president of the Retail Industry Leaders Association, Sandy Kennedy, has sent a letter to the heads of the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) urging them to remain focused on securing a new, long-term contract in the immediate future to ensure stability at the west coast ports. The letter reflects the growing angst among the retail community over the lack of a new agreement.