International Business

Vancouver -- J. Crew has announced three new Canadian store openings, according to a report in the Financial Post.

The new locations include stores in Vancouver, Edmonton and Toronto, and will join the sole store already open in the country as well as herald the launch of the retailer’s men’s apparel line in Canada.

SAN FRANCISCO — Gap Inc.'s fourth-quarter net income plummeted 40% on higher costs and aggressive discounting during the holiday selling season.

The company reported that net income for the quarter ended Jan. 28 was $218 million, compared with $365 million a year earlier. Sales dipped to $4.28 billion in the quarter, from $4.36 billion, matching Wall Street estimates.

New York City -- Kenneth Cole Productions' board of directors has formed a special committee of independent directors to consider a non-binding proposal from Kenneth Cole, chairman and chief creative officer, that would take the company private.

NEW YORK — Kenneth Cole Productions' board of directors has formed a special committee of independent directors to consider a non-binding proposal from Kenneth Cole, chairman and chief creative officer, that would take the company private.

Englewood, Colo. -- Liberty Interactive, parent company of QVC, reported revenue growth for the fourth quarter and full year thanks to favorable results at QVC and its e-commerce division.

Liberty Interactive's revenue increased 7% to $3.1 billion in the fourth quarter, and 8% to $9.6 billion for the year.

"QVC finished the year strong with impressive Q4 results, particularly in the United States and Japan, despite a challenging macroeconomic environment," stated Greg Maffei, Liberty Interactive president and CEO.

Profits grew faster than sales at Walmart’s international division last year, despite investments to drive record expansion and inventory growth, as EDLP took hold in more markets.

Columbus, Ohio -- Limited Brands reported Wednesday that fourth quarter profit dropped 21% to $359.4 million, from $452.3 million in the year-ago period.

The parent to Victoria’s Secret, Bath & Body Works and Henri Bendel was negatively impacted by a large restructuring charge for an asset write-down and closures of some of its La Senza lingerie stores. Last quarter’s profit decrease breaks a streak of four consecutive quarters of year-over-year profit increases.

San Francisco -- Gap Inc. has named Jill Stanton to the newly-created role as creative advisor for Old Navy, and Liz Meltzer as senior VP of Gap International Merchandising.

Stanton will work with the Old Navy design and merchandising teams to provide a fresh perspective and insights to the brand. Her career spans more than 25 years in apparel retail, starting with global retailers Next and Marks and Spencer. She also has more than a decade of experience with Nike, ultimately serving as VP global apparel.