International Business

Bentonville, Ark. -- Wal-Mart Stores said Thursday it will open its first four stores in Washington, D.C., as part of the retailer’s effort to increase its urban expansion stride.

Wal-Mart said it plans to open the smaller-format urban stores in Washington, D.C. in late 2012, and said it has met little resistance from the area. The retailer said its poll of 800 locals found nearly three-quarters of Washingtonians favored Wal-Mart coming to the city.

Framingham, Mass. -- Staples reported Thursday that profit for the third quarter rose 7% as the office supply retailer clamped down on expenses. Net income increased to $288.7 million, from $269.4 million.

Revenue edged up to $6.54 billion from $6.52 billion. Analysts expected $6.53 billion.

Amsterdam -- Royal Ahold NV reported Thursday that its third-quarter profit fell 4.4% to $315 million. The Dutch owner of the Stop & Shop and Giant supermarkets in the United States cited higher taxes for the performance decline.

Sales rose 11% to $9.12 billion.

U.S. same-store sales rose 1%. In the Netherlands, where Ahold operates the dominant Albert Heijn chain, same-store sales rose 4.5%.
 

Columbus, Ohio -- Limited Brands reported Wednesday that net income for the quarter ended Oct. 30 soared to $61.3 million, compared with $6.1 million a year earlier. The company also said it would repurchase $200 million in shares.

Same-store sales increase 10%, and net sales were $1.99 billion compared with $1.78 billion last year.

San Francisco -- Continuing its global expansion, Gap announced a franchise agreement to introduce its namesake Gap brand in South America. The first Gap store is expected to open in Santiago, Chile, in the Parque Arauco mall, in September 2011.

Gap has signed a franchise agreement with Komax, for exclusive rights to operate Gap brand stores in Chile. Komax will purchase merchandise from Gap and must adhere to the company’s quality standards.

Chesapeake, Va. -- Dollar Tree announced that it has completed its purchase of the assets of  Dollar Giant Store Ltd, which is based in Vancouver, B.C. The purchase is Dollar Tree’s first expansion of its retail operations outside of the United States.

Dollar Giant stores offer a wide assortment of quality general merchandise, contemporary seasonal goods and everyday consumables, all priced at $1.25 (CAD) or less. The stores average 9,000 sq. ft. and operate in British Columbia, Ontario, Alberta and Saskatchewan.

San Jose, Calif. -- VeriFone Systems, a global leader in secure electronic payment solutions, and Hypercom Corp., the high-security electronic payment and digital transactions solutions provider, Wednesday announced a definitive agreement under which VeriFone will acquire Hypercom in an all-stock transaction valued at approximately $485 million, including net debt assumed by VeriFone.