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International Business

  • Uniqlo parent records 17% leap in Q1 profit

    New York -- Fast Retailing Co., parent to the Uniqlo chain, reported Thursday that net income for the fiscal first quarter jumped 17% to $644.3 million, boosted by strong same-store sales at Japan Uniqlo units.

    On Wednesday, the company announced that Uniqlo will continue its U.S. expansion strategy by opening two new mall locations in New York.

    The company has raised its annual profit forecast.

     

  • Buy.com gets an e-makeover

    NEW YORK and ALISO VIEJO, Calif. — Leading global e-commerce marketplace Rakuten Inc. has rebranded Buy.com, which it acquired May 2010, to Rakuten.com Shopping.

    Between now and January 30, merchants and consumers will still be able to go to Buy.com to access Rakuten’s U.S. subsidiary. Starting January 31, however, the site url will change to Rakuten.com. Anyone going to Buy.com will be redirected to the new url.

  • Destination Maternity opens first Canada location

    Philadelphia -- Destination Maternity Corp. said it is opening its first Destination Maternity store in Canada on Thursday in Calgary, Alberta, at the Kingsland Village retail development.

    The store will debut its A Pea in the Pod brand in Canada.

  • Walgreens shares vision for 2013 and beyond

    CHICAGO — "[The year] 2012 was definitely an important year for Walgreens," Greg Wasson, Walgreens president and CEO, told shareholders here, at the Navy Pier, Wednesday afternoon, at the chain's annual shareholder meeting. "We did make some tough choices to protect and solidify … our position for the long term," he said. "[But] our vision is crystal clear to become the first choice for health and daily living in America."

  • Report: Congressmen say Wal-Mart CEO was aware of Mexico bribery

    New York -- According to multiple reports on Thursday, congressmen Henry Waxman (D-Rep., Calif.) and Elijah Cummings (D-Rep. Md.) have said that Wal-Mart Stores CEO Mike Duke and other senior-level officials at the retailer were informed about allegations of bribery in the retailer’s operations in Mexico in 2005.

    The two congressmen cited documentation obtained by their staffs, which discussed allegations of corruption regarding a store in Teotihuacan.

  • Brand e-commerce company names new president

    CHICAGO — Jay Dettling was named president of Acquity Group, a global e-commerce an digital marketing company.

    Dettling will lead North American Services and in addition to identifying strategic expansion targets, he will be charged with evolving Acquity Group's current service offerings in strategic, creative and technical practice areas to keep pace with technological advances and changing market conditions.

  • Walgreens details growth strategy

    Chicago -- Walgreens on Wednesday told shareholders at the chain’s annual meeting in Chicago that it will continue to push the envelope of traditional drugstore retailing. Going forward, the company said it is focused on three areas of opportunity:

  • Uniqlo to open at New York’s Palisades Center and Westchester’s Ridge Hill

    New York -- Uniqlo, a division of Japan’s Fast Retailing Co., will continue its U.S. expansion strategy by opening two new mall locations, at Palisades Center in West Nyack, N.Y., and Westchester’s Ridge Hill in Yonkers, N.Y. Both stores are slated to open in spring 2013.

    At 24,000 total sq. ft., the Uniqlo store in Palisades Center will open in early March. (Palisades Center is the eighth largest mall in the nation.)

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