International Business

Minneapolis -- Target Corp. said that it has promoted Tony Fisher to president of Target Canada as the retailer prepares to open its first stores in the country. He will be responsible for building the team, establishing the headquarters and leading the day-to-day operations of the corporation's recently announced expansion into Canada.

The chain tapped an 11-year employee to lead its Canadian business. Last week, Target announced it bought 220 Zeller's leaseholds and it plans to open between 100 and 150 Target stores in Canada beginning in 2013.

Between announcing its first international acquisition and disclosing details of its U.S. expansion program, the Target board found time to squeeze in authorization of a quarterly dividend payment. The company’s dividend is currently 25 cents a share and is payable on March 10 to shareholders of record on Feb. 16. The first quarter dividend will be the company’s 174th consecutive dividend paid since October 1967 when the company became publicly held.

Talk about favorable media coverage. CNBC aired a one-hour special last week called “Target: Inside the Bullseye,” that served as more of a glowing endorsement of the company than the probing documentary implied by the title.

Conventional wisdom seems to be that Target will be as successful in Canada as it has been in the United States, following last week’s bombshell announcement that the company would enter the market via an acquisition. Target said it would acquire leasehold interests in 220 Zellers stores from the Hudson’s Bay Company, and during 2013 and 2014 it would open between 100 and 150 of the locations as Target stores.

MINNEAPOLIS -- Target announced that Tony Fisher has been named president of Target Canada.  In this position, Fisher will be responsible for building the team, establishing the headquarters and leading the day-to-day operations of the corporation's recently announced expansion into Canada, the company reported.

Bentonville, Ark. -- Wal-Mart Stores on Tuesday denied reports by a Santiago, Chile, newspaper that it would consider opening banks in Chile and Argentina.

The reports are “completely untrue,” Wal-Mart spokesman Kevin Gardner told Bloomberg in an e-mailed response to questions.

Sarasota, Fla. -- The Retail Industry Leaders Association said Tuesday that Bill Simon, president and CEO of Walmart Stores, along with Steven Preston, president and CEO of OakLeaf Waste management, have joined the RILA board of directors.

Simon replaces Walmart vice chairman and president and CEO of global e-commerce and global sourcing Eduardo Castro-Wright on the board.

The RILA board meets twice a year to discuss the issues facing retailers and to offer insight into the opportunities and challenges confronting the industry.

South Deerfield, Mass. -- The Yankee Candle Co. said Tuesday that John Fontana has joined the company as president of the international division.

The candle retailer and manufacturer also said that Hope Margala Klein has been promoted to senior VP brand design and innovation.

Chicago -- Jones Lang LaSalle announced Tuesday that it has launched a website to deliver strategies, tools and information regarding the upcoming changes in lease accounting treatment by the U.S. Financial Accounting Standards Board (FASB) and its counterpart, the International Accounting Standards Board (IASB).

Chicago -- Urban Retail Properties LLC said Tuesday it has appointed Samuel J. Greenblatt as principal, finance/capital markets. Greenblatt’s primary role will be to raise capital and foster financial relationship opportunities for the company.

Prior to his role with Urban, Greenblatt was executive VP and director of originations of RAIT Financial Trust, a NYSE traded mortgage real estate investment trust.