International Business

Minneapolis -- Best Buy Co. said Thursday that its founder and chairman Richard Schulze is resigning from his position on the board, one he has held for more than 40 years.

New York -- Kate Spade New York announced Thursday that it will buy its Japanese JV partner Sanei International’s 51% share in Kate Spade Japan.

The move, said Kate Spade, is part of an aggressive international push that includes recent store openings in the United Kingdom, Dubai and Kuwait, as well as further expansion into Brazil with additional store openings in Rio de Janeiro and Sao Paulo planned for this summer.

AMSTERDAM — Royal Ahold's U.S. subsidiary saw net sales jump 2.8% to $7.8 billion during first quarter 2012, the company said Wednesday.

New York -- Claire’s Stores Inc. has named James D. Fielding, former president of Disney Stores Worldwide, as CEO, effective June 18, 2012. Fielding, who resigned from Disney on Monday, will also join Claire’s board of directors.

“I look forward to capitalizing on the many growth initiatives available to the company, including new stores, development of the Icing concept, continued international expansion in markets such as Mexico, India and China, and optimization of e-commerce,” Fielding said in a statement.

ST. LOUIS — Save-A-Lot is poised for substantial growth in South Florida when it completes its new distribution center in Pompano Beach. The 250,374 sq. ft. DC is expected to open by February 2013 and will and employ more than 30 employees initially, with the potential for hiring additional employees once the facility is at full capacity, the company said. The project is the result of collaboration with KTR Capital Partners and Butters Construction.

Toronto -- Loft, a division of Ann Inc. — formerly known as Ann Taylor — will open its first Canadian location at Yorkdale Shopping Centre in Toronto, Ontario, in late 2012.

"Canada represents a natural step as we move to expand internationally, and we are excited to open our first store outside the U.S. in such a vibrant city like Toronto," said Gary Muto, brand president.

Target’s plan to achieve $6 billion in Canadian sales by 2017 is doable, according to Bernstein Research analyst Colin McGranahan, who notes the company’s goal is dependent on achieving sales productivity levels higher than the United States.

By William Gindlesperger, [email protected]

Innovation is required if the United States is to regain the level of productivity that it enjoyed toward the end of the 19th Century through the mid-20th Century. However, innovation by itself is not enough. Just as our parents and grandparents adopted electricity, the automobile, credit cards and airplanes in the period from 1870-1950, businesses and organizations of the 21st Century must embrace change.