International Business

Wayne, N.J. -- Toys "R" Us reported a loss of $111 million for the first quarter, compared with a year-earlier loss of $60 million. It was the struggling chain’s worst quarter in a decade.

Net sales for the quarter, ended May 4, declined 7.8% to $2.4 billion. Same-store sales were down 8.4% domestically and fell 5.8% internationally.

New York -- Foot Locker has received approval from the Federal Cartel Office in Germany to complete its acquisition of Runners Point Warenhandelsgesellschaft mbH (RPG), initially announced in May 2013. RPG is majority owned by private equity group Hannover Finanz and operates more than 200 specialty athletic retail stores in Germany, Austria, The Netherlands and Switzerland under various banners, as well as an e-commerce site.

The transaction, valued at roughly $94 million, is expected to close early next month.

NEW YORK — Cosmetic brand Clinique has promoted Jean-Christophe Jourde to the newly created position of SVP and GM of North America. Jourde will be responsible for driving sales and market share growth for the brand in the region and will report to Ricardo Quintero, SVP and global GM of market development. 

WAYNE, N.J. — Lingering cold weather and soft sales in its electronics and entertainment categories caused Toys”R”Us’ net and comparable store sales for first quarter ended May 4 to dip. 

The company reported net sales of $2.4 billion, a decrease of nearly 8% from $2.6 billion for the quarter a year ago. The decline in net sales for the quarter was primarily attributable to a decrease in comparable store net sales, as well as a foreign currency translation impact of $67 million. 

Hasbro will be developing toys and physical games based on the globally popular Angry Birds brand as part of its expanded licensing agreement with Rovio Entertainment. 

Hasbro will develop the upcoming game Angry Birds Go!, scheduled to release this year, and will continue to develop and expand the collaboration with Angry Birds Star Wars from Rovio Entertainment and LucasFilm.

Brussels, Belgium -- Jean-Pierre Hansen is resigning from the board of directors of The Delhaize Group effective June 30. Hansen, who initially joined in 2011, said the position required more time than he anticipated and he needed to attend to commitments in the energy sector and other unspecified duties.

“I have very much enjoyed working with great colleagues on the Board and wish the company well in its future growth," said Hansen.

Overall economic growth in Europe is slower than in the U.S., but the opposite is true when it comes to e-commerce sales, according to figures published by Internet Retailer.
 
U.S. e-commerce sales grew 15.9% to $225.54 billion in 2012 from $194.61 billion the prior year, according to the U.S. Department of Commerce while the Centre for Retail Research in the U.K. said European e-commerce sales increased 16.6% to $302.2 billion from 260.4 billion.

Toronto -- Canada’s second-biggest supermarket operator has acquired Safeway’s Canadian portfolio of stores in a $5.7 billion deal that pulls the Pleasanton, Calif., chain completely out of the country.

Sobeys, a unit of Empire Co. Lt., has acquired 213 grocery stores, 62 fuel stations, 10 liquor stores, 12 manufacturing facilities and four DCs, leaving Safeway with 1,400 stores in the U.S. after the deal.

FREMONT — Net sales at Men's Wearhouse's flagship brand stores got off to a slow start, but clothing and tuxedo revenues picked up, allowing the company to see total net sales of $617 million for the first quarter ended May 4, an increase of 5% from $587 million for the quarter last year.