International Business

OAK BROOK, Ill. — Ace Hardware Corp. posted fiscal 2012 revenues of $3.8 billion, up 3.6% from the previous year. 

The co-op’s net income of $81.8 million increased 5.3% for the year.

“We are very pleased with our fiscal 2012 results as revenues and net income were both higher than last year and our plan,” said Ray Griffith, Ace CEO, who will be replaced by John Venhuizen as CEO, effective March 31.

New York -- J.Crew Group Inc. expects to open 46 stores in 2013, company officials said during its quarterly conference call.
 
The specialty retailer will open 17 Madewell stores, 13 factory outlet units and 16 namesake locations, including its first-ever store in Europe, in London.
  
For the fourth quarter, J.Crew’s earnings were up 18% to $70.4 million. Same-store sales rose 11%.

New York -- Tiffany & Co.’s fourth-quarter net income inched up 0.7%, but its results still topped analysts’ predictions as strong demand in Asia helped to offset domestic weakness. The company also offered an annual sales outlook that topped analysts' estimates, citing its strong prospects in most Asian markets.
    
For the quarter ended Jan. 31, Tiffany earned $179.6 million, compared with $178.4 million in the year-ago period. Revenue increased 4% to $1.24 billion.
     

CARLSBAD, Calif. — 2XU, a manufacturer of high performance athletic apparel, has named Kevin Roberts CEO of the company. 

"2XU represents the pursuit of an incredible global business opportunity," said Roberts. "I greatly value the entrepreneurial culture of the brand and will continue to foster it moving forward."

LOS ANGELES — U.K.-based Tesco has lost up to $2 billion in its failed Fresh & Easy California venture, according to a report by the Los Angeles Times — Tesco had placed the troubled grocer on the sales bloc in December following the departure of Fresh & Easy CEO Tim Mason. 

The retailer's struggles can be traced to labor unions and an ambitious investment into an 850,000-sq.-ft. distribution center that placed pressure on the 200-store chain to expand rapidly, according to the LA Times report. 

New York -- In another sign that British retail giant Tesco is reconsidering its U.S. Fresh & Easy division, the company sent an email sent to shoppers in which it acknowledged that the grocer doesn't know "if Tesco will continue to own the company," the Los Angeles Times reported.
 
Fresh & Easy spokesman Brendan Wonnacott said that Tesco is still reviewing its American chain, and will make an update in April as part of the company's full-year results, the report said.

New York -- SkinnyPizza has signed an exclusive deal with Mogull Realty for multi-unit expansion into Manhattan. 

Allow me to be the group historian for a minute. Does anyone remember, in 1984, the "Crafted with Pride in the U.S.A." advertising campaign, spearheaded by the late Roger Milliken, and funded by a consortium of fiber, chemical and textile companies? This was supposed to have instilled enough patriotism in the consumer to buy goods made in America at a furious enough rate to keep manufacturing here on our soil.