International Business

Hong Kong – Chinese e-commerce platform provider Alibaba Group Holding Ltd. is reportedly planning a U.S. initial public offering (IPO). According to Bloomberg, Alibaba has received approval from Hong Kong regulators for its proposed governance structure.

New York -- Rwanda, Nigeria, Namibia, Tanzania and Gabon occupied the top five places of the first-ever A.T. Kearney African Retail Development Index (ARDI), a new study designed to help large, organized retailers determine where and how to best enter Sub-Saharan Africa's rapidly growing retail market. The ARDI not only identifies the markets in Africa most attractive for retail expansion today, but those that offer the most potential in the future.

New York — The economy is in better shape than many people think — especially when you look under the hood at some of the parts, CNBC senior analyst Ron Insana told attendees at Chain Store Age’s 50th annual SPECS show. Insana was a keynoter at the event, which was held at the Gaylord Texan Hotel, Grapevine, Texas, March 9 – 12, and attracted retail executives in store planning, construction and facilities. “The United States economy is actually performing quite nicely,” Insana said. “If you look around the world, no one else comes close.”

Lynnwood, Wash. - Net income in the fourth quarter of fiscal 2013 at Zumiez Inc. increased 17.3% to $26.9 million, from $22.9 million last year. Net sales increased 1.1% to $226.8 million from $224.4 million, although same-store sales dropped 2.2%. Results for the quarter include a $5.8 million benefit related to Zumiez’ acquisition of Blue Tomato. Zumiez plans to open up to 55 new stores during fiscal 2014, including as many as seven in Canada and five in Europe.

New York – Ann Inc., owner of Ann Taylor and Loft, on Friday reported better-than-expected fourth-quarter profit but forecast a lower-than-expected outlook for the year. The retailer also announced a strategic realignment that includes integrating stores and e-commerce and will result in the loss of about 100 corporate jobs.

New York -- Nordstrom is going to be a big success in Canada, according to Antony Karabus, president, Hilco Retail Consulting. (Nordstrom has plans for six stores in Canada, with the possibility of adding a few more over time.) “Every one of the six stores they (Nordstrom) picked in Canada is a home run in terms of the location. It’s the perfect time, perfect sector and the perfect time in the sector,” Karabus said during a recent presentation on “The State of the Canadian Retail Market.”

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Mexico City -- Yelp Inc. has announced the availability of Yelp Mexico. Beginning March 13, people throughout Mexico are able to create accounts on Yelp.com.mx to share their opinions about great local businesses.

Yelp's free iPhone and Android applications will be available as well as its free suite of business owner tools: Yelp for Business Owners.