International Business

Simon Property Group is employing a novel strategy to generate traffic to some of its signature properties that appeal to well-heeled South American tourists.

Wayne, N.J. -- Toys "R" Us reported a loss of $111 million for the first quarter, compared with a year-earlier loss of $60 million. It was the struggling chain’s worst quarter in a decade.

Net sales for the quarter, ended May 4, declined 7.8% to $2.4 billion. Same-store sales were down 8.4% domestically and fell 5.8% internationally.

WAYNE, N.J. — Lingering cold weather and soft sales in its electronics and entertainment categories caused Toys”R”Us’ net and comparable store sales for first quarter ended May 4 to dip. 

The company reported net sales of $2.4 billion, a decrease of nearly 8% from $2.6 billion for the quarter a year ago. The decline in net sales for the quarter was primarily attributable to a decrease in comparable store net sales, as well as a foreign currency translation impact of $67 million. 

New York -- Foot Locker has received approval from the Federal Cartel Office in Germany to complete its acquisition of Runners Point Warenhandelsgesellschaft mbH (RPG), initially announced in May 2013. RPG is majority owned by private equity group Hannover Finanz and operates more than 200 specialty athletic retail stores in Germany, Austria, The Netherlands and Switzerland under various banners, as well as an e-commerce site.

The transaction, valued at roughly $94 million, is expected to close early next month.

Hasbro will be developing toys and physical games based on the globally popular Angry Birds brand as part of its expanded licensing agreement with Rovio Entertainment. 

Hasbro will develop the upcoming game Angry Birds Go!, scheduled to release this year, and will continue to develop and expand the collaboration with Angry Birds Star Wars from Rovio Entertainment and LucasFilm.

ATLANTA — Newell Rubbermaid has appointed Jeremy Liebowitz as the company’s VP of global e-commerce, a newly created position. The company will look to Liebowitz to lead the acceleration of its online revenue growth worldwide.

Former Mexican president Felipe Calderón will be one of the key note speakers this fall when the Council of Supply Chain Management Professionals gathers in Denver for the organization’s annual global conference.

NEW YORK — Cosmetic brand Clinique has promoted Jean-Christophe Jourde to the newly created position of SVP and GM of North America. Jourde will be responsible for driving sales and market share growth for the brand in the region and will report to Ricardo Quintero, SVP and global GM of market development.