International Business

Dallas -- 7-Eleven announced today that it has closed a deal to acquire 74 operating convenience stores and two land parcels from Prima Marketing LLC, a 7-Eleven licensee with stores in West Virginia, Ohio, Pennsylvania and Kentucky. The bulk of the stores being purchased are in West Virginia.

Terms of the deal were not disclosed.

Minneapolis -- Best Buy Co. has named Hubert Joly, the former chief executive of global hospitality company Carlson, as the chain's new CEO and president. Carlson, which operates such businesses as Radisson and T.G.I Friday's, announced Sunday that Joly resigned from that company.

It may be the right thing to do long-term, but Walmart’s plans to slow growth in China, Mexico and Brazil didn’t sit well with investors this week.

The revelation that Walmart would add between 21 and 23 million square feet of space versus the previously planned addition of 30 to 33 million square feet will result in Walmart International spending between $4.6 billion and $5 billion compared to a previously budgeted amount of $5 billion to $5.5 billion.

Things are looking up for Sears Holdings. The company only lost $132 million during its second quarter.

A double-digit comps increase propelled the athletic footwear chain’s 63% second quarter earnings surge.

The Global Reporting Initiative bestowed its highest accolade on Kimberly-Clark’s 2011 sustainability report.

San Francisco -- Gap Inc. reported Thursday that net income for the quarter ended July 28 surged 29% to $243 million, prompting the retailer to raise its guidance for full-year 2012.

Sales increased 6% to $3.58 billion, compared with $3.39 billion for the second quarter last year. Same-store sales rose 4%.

“Our continued focus on product and store execution are helping to drive positive momentum and we’re committed to sustaining solid performance for the remainder of the year,”said Glenn Murphy, chairman and CEO.

Wayne, N.J. – Toys “R” Us opened its first stores in Beijing last weekend, marking its continued expansion across China.

BENTONVILLE, Ark. — A fourth consecutive quarter of same-store sales growth at Walmart’s U.S. business helped the company achieve a slightly better than expected profit performance.

WAYNE, N.J. — Toys“R”U opened its first stores in Beijing this weekend, marking its continued expansion across China.