International Business

Following Walgreens' announcement last week about taking the next step in acquiring Alliance Boots, Alex Gourlay, EVP Walgreens Boots Alliance and president of Walgreens, announced changes in the company's operational organization structure in a letter to Walgreens employees.
 

Bentonville, Ark. – Consolidated net income at Wal-Mart Stores Inc. grew 0.6% to $4.1 billion in the second quarter of fiscal 2014 from $4.07 billion in the second quarter of fiscal 2013, with factors including incremental e-commerce investments and healthcare costs dampening profit growth. Wal-Mart cut its profit forecast for the full year as a result.

Overall second quarter performance at Wal-Mart was sluggish. Net sales rose 3% to $119.3 billion from $116.1 billion. Currency exchange rate fluctuations negatively impacted net sales performance.

Brampton, Canada – Loblaw Companies Ltd. has named Pavi Binning as a director to its board. Binning currently serves as the president of food processing company George Weston Ltd. and has been a director of George Weston Ltd. since 2012.

Walmart met low second quarter sales and profit expectations it set for itself but significantly lowered its full year outlook due to a tepid third quarter sales forecast and increased e-commerce and health care costs.

Los Angeles - The Canadian market offers an opportunity for U.S. retailers to expand and to gain experience operating in an international market. According to a new study from market research firm IbisWorld, the U.S. retail segment best suited for expansion into Canada is department stores, followed by men’s clothing stores.

Downers Grove, Ill. – Net income dropped 14.5% at FTD Inc. to $4.7 million in the second quarter of fiscal 2014 from $5.5 million in the same period the prior year. Costs related to FTD’s planned purchase of Provide Commerce were primarily responsible for the decline in net income.

Tampa, Fla. -- Burger 21, founded by the owners of The Melting Pot Restaurants, has executed its first franchise agreement in Michigan, under which a debut restaurant in Ann Arbor will open summer 2015.

Additionally, the company signed two franchise agreements for single units in Ocala, Florida, and Raleigh, North Carolina. The new deals are part of the fast-casual concept's growth strategy to expand its presence in new and existing markets nationwide.

To date, Burger 21 has 13 open locations and 25 franchised restaurants in development.

E-commerce giant Ratuken’s U.S. fulfillment service, Ratuken Super Logistics, has begun to accept Internet currency Bitcoin as payment.

The company will accept payment from its customers immediately for fulfillment services and software delivery through the company BitPay.