International Business

Bexley, Ohio — Stanbery Development has named Marc Hays as a partner. He will focus on finding locations for new developments and acquisitions as well as leasing.

Leading packaging provider Silgan Holdings named long-time KPMG executive Joseph Jordan to its board of directors.

Silgan isn’t a name familiar to the average consumer, even though its products come in contact with millions of people daily. As a leading supplier of rigid packaging for shelf stable foods and other consumer goods, Silgan operates 87 manufacturing plants worldwide and generates annual sales of $3.7 billion.

London – British fashion retailer Arcadia Group, whose banners include Topshop and Topman, has chosen Oracle Retail Merchandising Operations Management, Oracle Retail Merchandise Planning and Optimization, and Oracle Commerce applications to create a platform to help optimize retail operations and support its developing international business.

Arcadia, Wis. – When vertical furniture retailer Ashley Furniture found its homegrown retail management system no longer supported its rapid global growth, the company decided to investigate both regional and Tier 1 enterprise retail management systems. Determining it needed a multi-language, multi-currency solution that could support the unique financial requirements of each country where it did business, Ashley Furniture selected Microsoft Dynamics.

Borderfree is a digital company focused on helping retailers sell to anyone anywhere and last Friday the company sold itself to investor’s by completing an initial public stock offering.

The company priced its offering of five million shares at $16 and enjoyed a 32% pop at the open when shares began trading at $21. The upward momentum proved to be unsustainable and by the close shares had receded to $20, registering a still respectable first day gain of 25%.

New York – A $473 million charge resulting from arbitration with The Swatch Group in December 2013 resulted in Tiffany & Co. reporting a net loss of $104 million in the fourth quarter of fiscal 2013. Tiffany reported net earnings of $180 million in the year-ago period.

New York -- Nordstrom Inc. is delaying the opening of its Nordstrom Rack chain in Canada until 2017, in order to focus its attention on the launch of its full-line department stores there, The Globe and Mail reported.

Nordstrom had initially planned to start opening Rack stores in Canada next year. But the company has decided to focus on  the openings of its six Canadian department stores (the first, in Calgary, is due to open this fall).

Tiffany & Co. reported a net loss of $104 million in the fourth quarter of fiscal 2013 thanks to a $473 million charge resulting from arbitration with The Swatch Group Dec. 2013.

The company reported net sales for the quarter of $1.3 billion, up 5% from $1.23 billion last year. Same-store sales for the quarter increased 6%.