International Business

The trend of fewer people shopping Walmart stores less often has hurt the company’s efforts to revitalize U.S. sales growth, and now it the appears trip consolidation trend is playing out internationally as well.

Walmart International sales increased 7.1% to $27.8 billion in the second quarter and all countries produced sales growth, except Japan, when measured on a constant currency basis. Profitability didn’t improve as quickly. Operating profit was up 0.5% to nearly $1.3 billion, but if some one time charges are excluded the growth rate picks up to 5.6%.

SAN FRANCISCO — Gap Inc. reported that net sales for the second quarter of fiscal year 2011, which ended July 30, increased 2% to $3.39 billion compared with $3.32 billion for the second quarter last year. The company’s second quarter comparable sales, which include associated comparable online sales, were down 2% compared with a 1% increase in the second quarter last year. For the second quarter of fiscal year 2011, online sales positively impacted comparable sales for Gap Inc. by 2 percentage points.

VERNON, Calif. — True Religion Apparel has announced that Lynne Koplin has been named president of the company effective immediately.

Koplin joined the company in January 2010 as COO. Prior to joining the company, and since July 2005, she was the president women’s division, of Tommy Bahama, a subsidiary of Oxford Industries, and before that worked for a number of apparel and retail companies.

BENTON HARBOR, Mich. — Whirlpool Corp. announced that Roy Templin, EVP and CFO, will retire from the company. As part of the planned transition, Templin will remain in his current capacity until April 2012 to complete Whirlpool's year-end reporting and other transitional items. At that time, Larry Venturelli – currently SVP corporate controller, chief accounting officer and CFO for Whirlpool International – will succeed Templin as EVP and CFO.

Indianapolis -- Electronics and appliances retailer Hhgregg said Friday it will open 14 new stores in the Chicago area on Sept. 15.

Chicago is a new market for Hhgregg, and with the opening of 14 new stores, it will become the company’s largest market.
 

New York City -- Barnes & Noble revealed late Thursday that media conglomerate Liberty Media has acquired a stake in the bookseller for $204 million.

The move, while celebrated by Barnes & Noble, is thought to be a disappointment for investors, who wanted the John C. Malone-controlled Liberty Media to buy Barnes & Noble outright. Liberty’s current investments include Starz Entertainment, home shopping channel QVC and the Atlanta Braves baseball team.

BOUCHERVILLE, Quebec — Rona, the largest Canadian distributor and retailer of hardware, renovation and gardening products, has announced the appointment of Dominique Boies to the position of EVP and CFO.   Boies will be a member of Rona's management committee, reporting directly to Robert Dutton, president and CEO.

BOISE — Privately owned Albertsons LLC, which operates more than 200 pharmacies across six states, has named Stewart Edington VP pharmacy operations.

Edington has been with Albertsons stores since 2003, when he was hired as a pharmacy manager and worked in the company’s Phoenix stores. In 2006, Edington joined Albertsons LLC as the division pharmacy manager for the company's Florida stores, a position he has held for the last five years.