International Business

New York -- Saks Inc. announced that its chairman and CEO, Stephen I. Sadove, along with the company’s president and chief merchant, Ronald L. Frasch, plan to leave the company following the closing of its acquisition by Canadian retailer Hudson's Bay Co.

Alpharetta, Ga. -- McAlister's Deli announced plans to develop 17 restaurants in Indiana, South Carolina, and Georgia as part of new multi-unit development agreements with two existing franchise groups.

"We are pleased that our existing franchisees are continuing to expand with McAlister's Deli," said McAlister's Deli president and CEO Frank Paci. "Their commitment to develop demonstrates their confidence in the brand's strength and its ability to provide franchisees with an attractive investment."

LAKE FOREST, Calif. — Frozen shipping logistics solutions provider Cryoport has elected Edward J. Zecchini to its board of directors. 

Zecchini has more than 30 years of experience in the healthcare and information technology industries. With this appointment, the Cryoport board now has four members, of whom three are independent directors, including Zecchini.

Seattle -- Starbucks Coffee Company on Monday opened two flagship stores in Beijing, China. The new Beijing flagship stores were designed by members of the in-house Starbucks global design team and the local Starbucks China Design Studio, one of 18 international design offices worldwide. One store is a “coffee tribute” store at Kerry Center and one is an “eclectic chic” 24-hour store in the Taikoo Li Sanlitun district.

Greenwood Village, Colo. — Maui Wowi Hawaiian plans to open a shop in Northwoods Mall in Peoria, Ill. Slated to open in early October, the new Maui Wowi franchise shop will continue the brand’s expansion in Illinois.

Maui Wowi currently has more than 450 operating units in seven countries.

Talk about planning ahead. Target has announced a new collaboration with designer Peter Pilotto that won’t hit stores or the Internet until February 2014.

Boston — A group of private equity companies, including Advent International and CDIB Capital, have joined together to acquire a significant equity position in International Coffee & Tea, which owns and operates stores under The Coffee Bean & Tea Leaf banner, with an eye on expanding in Asia. Other investors participating in the transaction include Mirae Asset Private Equity and the Sassoon family (the latter is the largest existing shareholder of The Coffee Bean, and is remaining as a substantial shareholder).

Vancouver, B.C. – Lululemon Athletica Inc. reported a slight drop in net income during second quarter 2013.

Net income dipped about 1% to $56.45 million, from $57.7 million.

Net revenue grew 22% to $344.5 million from $282.6 million, and same-store sales increased 8%.