International Business

NEW YORK — Gap executives reaffirmed its commitment to reducing square footage at home, aggressive international expansion and online growth during a presentation at Gap Global Creative Center in New York City. Gap also revealed that its online-only Piperlime division will explore a store concept next year and is testing men’s apparel.

Dallas -- Zale Corp. said Wednesday that it has named Thomas A. Haubenstricker as senior VP and CFO, effective Oct. 17.

Haubenstricker joins Zale from Turnberry Advisors where he served as a managing director.

SAN FRANCISCO — Gap Inc. is continuing its expansion into Latin America with the opening of its first stores in South America in Chile this month. The company also announced plans to open Gap and Banana Republic stores in Panama and Colombia in 2012.

Nashville, Tenn. -- The Congressional Coalition on Adoption Institute (CCAI) honored IHL president and Retail Orphan Initiative (RetailROI) co-founder Greg Buzek with the first annual Paul Singer Award at the 13th Annual Angels in Adoption Congressional gala. RetailROI is a charitable foundation that was established to help the 400 million orphaned and vulnerable children worldwide.

The award was presented in a ceremony on Oct. 5, in Washington, D.C.

New York City -- Uniqlo, the expansion-minded Japanese apparel retailer, on Friday will open its largest store in the world, an 89,000-sq.-ft. flagship on Fifth Avenue. The three-level store reflects the chain’s ambitious designs on the United States and also the changing nature of Fifth Avenue, which is experiencing an influx of moderately-priced retailers.

Uniqlo is looking to grow its business to $50 billion by 2020. U.S. expansion figures into its strategy.

Japanese retailer Uniqlo will officially open the doors to its Fifth Avenue global flagship on Friday, Oct. 14. But after a sneak peak of the store, all I can say is “Wow!” At 89,000 sq. ft., Uniqlo is massive — with 100 fitting rooms, 45 checkouts, 100 LCD screens, four glass elevators, and three floors of merchandise. It feels more like a high-tech department store than a specialty store.

PLANO, Texas — JCPenney Co. said Wednesday it will acquire the worldwide rights for the Liz Claiborne family of brands, as well as the United States and Puerto Rico rights for the Monet brand for $267.5 million.

The company has been the exclusive licensee for all Liz Claiborne and Claiborne-branded merchandise in the United States and Puerto Rico since August 2010.

Tokyo -- Fast Retailing Co., parent to the Uniqlo chain of stores, reported Wednesday that profit for the full year fell 12% to $709.2 million. The company blamed the performance decline on bad weather, but said it will accelerate store openings overseas, which will compensate for the decline.