International Business

E-commerce was labeled Walmart’s next growth engine by Neil Ashe, the retailer’s president and CEO of global e-commerce during an investor presentation Wednesday morning.

New York -- Walmart is emphasizing e-commerce for growth, said Neil Ashe, the chain’s president and CEO of global e-commerce, said during an investor presentation Wednesday morning.

 

Minneapolis -- Consumer electronics retailer Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.

Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.

Taylor, Mich.-based Masco Corp. reported first-quarter net sales of $1.88 billion, up 3.9% from the same quarter last year.

Net income for the giant manufacturer of home improvement and building products was $47 million, up from $33 million in the prior-year quarter. 

BRISBANE, Calif. — Bebe has appointed current principal accounting officer and VP, corporate controller Liyuan Woo as its new CFO. 

Woo has been with Bebe stores since 2010. She will retain the principal accounting officer title and will be responsible for global finance, accounting, treasury, tax, compliance, planning and strategic corporate development. She will report directly to CEO Steve Birkhold.

MINNEAPOLIS — General Mills has released its 2013 Global Responsibility Report, which outlines the company's progress and commitments in the areas of health, environment, sourcing, workplace and community engagement. 

New York -- Uniqlo is taking a breather … but only a short one. The Japanese fashion retailer opened its seventh U.S. store — and its first in an outdoor lifestyle center location — on April 19, at Westchester’s Ridge Hill in Yonkers, N.Y. The two-level, 24,000-sq-ft. store comes on the heels of Uniqlo opening at Palisades Center in West Nyack, N.Y., in March. What’s next for the powerhouse brand that has made no secret of its intention to expand across the nation, with 200 stores by 2020?

MINNEAPOLIS — Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.

Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.