International Business

MINNEAPOLIS — Target last week announced that Target Canada has reached an agreement to transfer to Walmart Canada the leasehold interests in up to 39 sites, currently operated by Zellers.

Specific locations will be identified later this fall. Terms of this transaction were not disclosed.

During a question-and-answer style interview in Monday’s USA Today, Target chairman, president and CEO Gregg Steinhafel shared his thoughts on a wide range of topics including Walmart, inflation, designers and competition.

Walmart doesn’t need a lot of help when it comes to growth, which is why last week’s announcement by Target to sell its larger rival 39 sites in Canada was a surprise. Walmart is on track to end this year with 333 stores, and on Friday Target said it had reached an agreement to transfer to Walmart Canada the rights for leasehold interests in up to 39 sites currently operated by Zellers. The sites are among the up to 220 possible sites whose leasehold interests Target is acquiring as part of a real estate transaction announced in January.

Canton, Mass. -- Dunkin' Donuts on Monday announced it has signed agreements with three franchisees to develop 12 new restaurants throughout Tampa over the next several years.

"The Sunshine State is a priority growth market for Dunkin' Donuts in 2011, and we're excited to expand our footprint in Tampa," said Grant Benson, CFE, VP franchising and market planning, Dunkin' Brands.

New York City -- Macy’s announced the launch of international shipping on its e-commerce site to 91 countries in Africa, Asia, Australia, the Caribbean, Europe, the Middle East, North and South America. The department store retailer is partnering with FiftyOne, a provider of international e-commerce services and infrastructure to U.S. retailers.

New York City -- Massmart, now majority owned by Wal-Mart Stores, said on Sunday it aims to create 15,000 jobs in the next five years. The company also said it plans to expand its procurement of food and consumer goods by an additional $8.74 billion during the same period.

“Massmart intends to leverage Wal-Mart's global expertise in working directly with local farmers to encourage the cultivation of safe, high-quality fresh produce," Massmart CEO Grant Pattison said in the statement.

New York City -- Tiffany & Co. is replacing its CFO and adding a COO position.

The company announced Patrick F. McGuiness will replace James Fernandez as CFO.

Fernandez is taking on the newly created post of COO. The moves are effective immediately.
 

Minneapolis -- Target on Friday announced that Target Canada has reached an agreement to transfer to Walmart Canada the leasehold interests in up to 39 sites, currently operated by Zellers.

Specific locations will be identified later this fall. Terms of this transaction were not disclosed.

CAMDEN, N.J. — Campbell Soup Company has named Denise Morrison president and CEO, effective Aug. 1, the first day of Campbell’s next fiscal year. In October 2010, Morrison was named EVP and COO and elected a director of the company in anticipation of her appointment to the role of CEO at the beginning of fiscal 2012.

Morrison will succeed Douglas Conant, who will step down as president and CEO on July 31, 2011, after more than a decade in that role. Conant also will step down from Campbell’s board of directors at that time.

ATLANTA — Former Unilever executive Michael Polk has been appointed president and CEO of Newell Rubbermaid, effective July 18. He succeeds Mark Ketchum, who is retiring but will remain a director until May 2012.

Ketchum announced in January his intention to retire after being recruited from the board five years ago to lead Newell Rubbermaid through its transformation into a marketing-driven company.