International Business

Chicago -- A recent report from Jones Lang LaSalle showed that the current state of real estate markets suggests a temporary deceleration in the on-going global real estate market recovery.

According to JLL’s latest Global Market Perspective report, sentiment is, however, recovering and full-year 2012 commercial real estate volumes are expected to match the robust levels seen in 2011.

Wal-Mart Stores fell to the number two spot on the Fortune 500 list after holding the number one spot for two years. It was ousted by Exxon Mobil, which benefitted from rising oil prices.To see the full list, click here.

West Chester, Pa. -- QVC on Thursday announced the promotion of Steve Hofmann to CEO of QVC Europe, reporting to QVC president and CEO, Mike George. 

In the newly created position, Hofmann will oversee QVC's European markets, including the United Kingdom, Germany, and Italy, and accelerate growth opportunities throughout Europe. He maintains his current responsibility as CEO of QVC Italy and will continue to be based in Milan.

Target’s annual shareholders’ meeting will be held June 9 in downtown Chicago at the location of a soon-to-open CityTarget store on State Street. The venue is an interesting choice that speaks volumes about the potential for the new urban format.

New York -- British lifestyle brand Superdry USA on May 9 debuted its largest North American retail destination to date, a two-story, 14,000-sq-ft. store in New York City's Times Square. It is the brand’s third Big Apple location.

NAPERVILLE, Ill. — Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011. Adjusting for these charges, net income for the quarter was $20.3 million, or 23 cents per diluted share, compared with $11.4 million, or 13 cents per diluted share for the same period last year.

MOORESVILLE, N.C. — Lowe's continues to implement its customer-focused strategy with the creation of new executive roles. The company has created a customer experience division that will be led by Gregory Bridgeford, chief customer officer, who is responsible for creating customer experiences that will best serve customers and differentiate Lowe’s from its competitors.

Reporting to Bridgeford are:

New York -- As plus-size apparel retailer Avenue Stores emerges from bankruptcy under new ownership, it will do so with a much streamlined store presence.

Paul Halpern, chief investment officer of Versa Capital Management, which bought the chain out of Chapter 11 bankruptcy in February for $32 million, said the current store count of 415 to 420 will be reduced to about 300 to assure profitability.

Mooresville, N.C. -- Lowe’s Cos. said Tuesday it has realigned corporate personnel and responsibilities to focus the home improvement retailer more closely on customer experience strategies.

Lowe’s established a Customer Experience organization, led by chief customer officer Gregory M. Bridgeford, charged with creating customer experiences that will best serve customers and differentiate Lowe’s from its competitors.

Ontario -- Ikea said Tuesday that it has begun construction on the expansion of its current Montreal store to what will be its largest store in North America.

Set to be complete summer 2013, the new Ikea Montreal will be 469, 694 sq. ft. and will feature expanded inventory and services such as a 600-seat restaurant and 1,400+ parking spots.