International Business

NEW YORK -- Liz Claiborne said Friday that Edgar Huber, CEO of Juicy Couture, will be assuming a new position as executive VP global business development for Liz Claiborne, effective Feb. 14.

The company said Huber will continue to report to William L. McComb, CEO, Liz Claiborne.

LeAnn Nealz, president and chief creative officer, and John DeFalco, CFO and COO, will jointly manage the Juicy Couture business while the leadership structure for the brand going forward is determined, according to McComb.

Friday was to be something of a special occasion in Northwest Arkansas, until extreme winter weather forced a change of plans. Word arrived yesterday that Treasury Secretary Tim Geithner would not be visiting the area as originally planned, but the visit was postponed rather than cancelled, and he would be rescheduling the visit. Originally, he was scheduled to meet with regional business leaders to discuss how government and the private sector can work together to out-innovate the competition and grow the economy, according to a Treasury press release.

MINNEAPOLIS — Target said that although its comparable-store sales were below expectations in the South and Northeast, the company believes overall sales will be driven by two of its recent initiatives.

Target chairman, president and CEO, Gregg Steinhafel, said that while the company "expects the economy to remain challenging, Target's PFresh remodel program and REDcard Rewards 5% savings program continue to operate in line with expectations."

It’s been more than five years since Walmart introduced its goals of being supplied 100% by renewable energy, creating zero waste and selling products that sustain people and the environment. These audacious goals initially fell under the umbrella of sustainability, but now we get word out of Miami that sustainability has been transformed to “sustainagility.”

Miami -- Walmart Latin America CEO Eduardo Solorzano said Thursday in a speech that Walmart is using the company's expertise in sustainability as a means for profitable growth. 

SAN FRANCISCO -- Gap Inc. has announced a series of significant management and organizational changes at Gap brand designed to drive more consistent results in North America and to provide a new and dynamic creative leadership structure that will deliver sustainable global growth. The changes are effective immediately.

EL SEGUNDO, Calif. -- Mattel reported that for the fourth quarter, net income was $325.2 million, or 89 cents per share, compared with last year’s fourth quarter net income of $328.4 million, or 89  cents per share. For the year, the company reported net income of $684.9 million, or $1.86 per share, compared with last year’s net income of $528.7 million, or $1.45 per share.

BENTONVILLE, Ark. -- Walmart announced that the Walmart Foundation committing more than $750,000 in cash and in-kind donations to support emergency relief efforts in Sao Paulo and Rio de Janeiro, Brazil where an estimated 827 people have been killed and thousands have been left homeless following torrential rains and mudslides. A $400,000 donation from the Walmart Foundation will help purchase critical supplies like water, food, medical supplies and long-term relief efforts.

BENTON HARBOR, Mich. -- Whirlpool Corporation announced fourth-quarter net earnings of $171 million, or $2.19 per diluted share, compared with $95 million, or $1.24 per diluted share reported during the same period last year.  Fourth-quarter adjusted diluted earnings per share totaled $2.11 compared with $1.67 in the prior year.  Sales of $5 billion increased 4% from the fourth quarter of 2009.

Fourth-quarter operating profit totaled $202 million compared with $199 million in the prior year.  

New York City -- Gap announced a series of changes to help revive its struggling namesake division, which hasn't posted a gain on an annual basis since 2004. The company has tapped the head of its outlet division, Art Peck, to replace Marka Hansen as leader of the Gap brand for North America, effective immediately. Peck is credited with growing the company’s highly-profitable Outlet business for the past three years. He also has been a primary architect of the company’s franchise business and international growth platform.