International Business

New York – J. Crew is reportedly planning to expand into Asia. According to the Wall Street Journal, J. Crew will open two new stores in Hong Kong on May 21.

The Hong Kong stores will be J. Crew’s first Asian stores since it closed its stores in Japan in 2008. In 2012, J. Crew said it planned to open stores in Hong Kong, and the U.K., and opened three U.K. stores in 2013. The retailer plans to open five or six stores in Hong Kong in the next few years, and may also open new stores in Japan.

Bentonville, Ark. – Wal-Mart Stores Inc. plans to open 30 new China-based stores and remodel 55 of its 400 existing stores there during 2014, as well as open new China distribution centers. The China activity is part of Wal-Mart’s larger three-year plan for growth in the country.

Wal-Mart will spend $93 million on the store remodeling. The activity this year will be the first major initiative from new China CEO Sean Clarke.

Hamilton, Bermuda - Signet Jewelers Ltd. has closed the offering of $400 million senior unsecured notes due 2024 by Signet U.K. Finance PLC (a wholly owned indirect subsidiary of Signet). The notes will bear interest at a rate of 4.7% per year and mature on June 15, 2024.

Deerfield, Ill. – The Walgreens Co. is reportedly considering making a purchase offer for U.K.-based drugstore chain Alliance Boots. Walgreens, which owns 45% of the company, has an option to purchase the remaining 55% between February and August 2015, but according to The Telegraph may try to make an offer even sooner.

Newell Rubbermaid has opened a state-of-the-art design center in Kalamazoo, Mich., joining a growing list of design-driven companies that recognize design and innovation as a competitive advantage.

Milford, Conn. - The Subway restaurant chain is poised to open about 3,000 new locations worldwide this year. Subway currently has more than 41,000 stores in 105 countries worldwide.

"Location, location, location is still the mantra," said John Devine, director of Subway Real Estate. "We continue to provide our customers with convenient locations to enjoy our great menu offerings. At the same time, we continue to offer landlords and developers a proven, stable and trusted tenant for their real estate."

Minneapolis – Target Corp. cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012. According to a regulatory filing, Target decided to reduce Steinhafel’s total compensation after holding meetings and calls with shareholders owning 40% of total company shares and two proxy advisory firms.

Robert Price, former SVP and CMO for CVS, has been named president of Edible Arrangements International.

The operator of more than 1,100 stores worldwide is looking to Price to help significantly grow the brand's global presence.