International Business

New York -- Zumiez Inc. on Tuesday said it has agreed to buy Austria-based Blue Tomato for 59.5 million euros ($75 million). The teen retailer also raised its second-quarter revenue outlook.

Blue Tomato sells branded snowboarding and skating gear, apparel and footwear through its e-commerce website, which is available in 15 languages, and five stores in Austria. The company will continue to be headquartered in Schladming, Austria, and senior management will continue in their current roles.

New York -- Walgreen Co. said Tuesday it will pay $6.7 billion for a 45% stake in European health and beauty retailer Alliance Boots, which is based Nottingham, England, with an option to buy the rest of the company in about three years. It is the first international venture and biggest deal ever for the U.S. chain.

New York -- Barnes & Noble reported Tuesday that it narrowed its loss for the quarter ended April 28 to $57.6 million, compared with a loss of $59.4 million in the year-ago fourth quarter.

Revenue was essentially flat at $1.38 billion, missing Wall Street’s expected $1.48 billion in revenue. Retail sales rose 5% to $1.05 billion and Nook sales fell 11% to $164 million, as the company took back its Nook Simple Touch e-reader from retailers to make room for new inventory.

Same-store sales increased 4.5%.

NEW YORK — Barnes & Noble saw revenue increases across all of its segments, but it was its digital segment, lead by Nook, that helped narrow its net loss for the fourth quarter and fiscal year 2012.

Barnes & Noble's consolidated revenue for the fourth quarter increased 0.4% to $1.4 billion as compared with the prior year. Net loss for the quarter improved 3% as compared with the prior year to $57.7 million, or $1.08 per share.

There was quite a bit of excitement heading into this year’s RECon convention. The event is, in many respects, the annual event for retail real estate professionals from around the country (and more recently from around the world). It seemed to have a little bit more industry buzz going for it than in recent years. I think the combination of some encouraging economic indicators and the feeling that the industry is on the cusp of what may be a more sustainable long-term recovery had everyone’s optimism in high gear.

DEERFIELD, Ill. — Walgreens and Alliance Boots took the first step in creating what will be the first and largest global retail pharmacy player, the two companies announced Tuesday.  "This creates an opportunity for us together to create an international expansion platform," Walgreens president and CEO Greg Wasson told reporters and analysts early Tuesday morning.

Alliance Boots is a U.K.-based international, pharmacy-led health and beauty group that operates 3,330 retail businesses in 11 countries.

CARLSBAD, Calif. — Callaway Golf Company has named Harry Arnett as SVP marketing. In this role, Arnett assumes leadership of the company's global marketing, communications and go-to-market functions.  The announcement was made by Chip Brewer, president and CEO, Callaway Golf.

New York -- Tesco PLC is leaving the Japanese retail market after nine years. The company will sell 50% of Tesco Japan to Aeon Co., Japan’s largest retail group.

Tesco said it will form a joint venture with Aeon and invest £40 million ($63 million), then sell the remaining 50% to Aeon at a later date.