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International Business

  • Uniqlo’s ‘made for all’ style makes its way to Fifth Ave

    NEW YORK — Uniqlo’s NYC flagship may at first seem out of place amongst its Fifth Avenue neighbors, including luxury brands Tiffany & Co., Bergdorf Goodman, Louis Vuitton and Prada, but the location signifies the brand’s “made for all” mantra and its appeal to customers of all income levels.

  • J.C. Penney Co. to acquire Liz Claiborne brands for $268 million

    Plano, Texas -- J. C. Penney 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.

  • Wal-Mart reverses comp sales decline to cut U.S. cap spending

    Rogers, Ark. -- Wal-Mart Stores had positive news for analysts and investors gathered for the retailer’s annual meeting on Wednesday in Rogers, Ark. The chain said its same-store sales rose in July, August and September, reversing a two –year slump.  It also announced that it plans to cut its capital spending in the United States, even as it increased cap spending abroad,  as it continues to shift toward building smaller stores.  

  • Jones Group considering sale of denim division

    New York City -- Apparel manufacturer and retailer The Jones Group confirmed Tuesday that it is in discussions to divest its jeanswear division for between $350 million to $400 million.

    The potential buyer is Israeli clothing maker Delta Galil Industries.

    Jones Group, whose brands include Anne Klein and Nine West, said talks should conclude within a month, but cautioned that no deal has been reached. If the two were to reach a deal, Jones said it would use net proceeds for share repurchases.

  • 99 Cents Only in $1.6 billion buyout

    Commerce, Calif. -- Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

    The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.

  • Bill Clinton to deliver keynote at NRF Annual Convention

    New York City -- The National Retail Federation has announced that President Bill Clinton will deliver the keynote address at the NRF’s 101st Annual Convention in New York City.

    Clinton, who will speak on "Embracing our Common Humanity,” will deliver his address on Jan 16, 11 a.m. 12 p.m.

  • TIAA-CREF and CBL close $1.09-billion JV

    Chattanooga, Tenn. -- TIAA-CREF and CBL & Associates Properties have announced the closing of their $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

    TIAA-CREF has completed its investment in four of CBL’s market-dominant shopping malls: Oak Park Mall in Kansas City, Kan.; West County Center in St. Louis; CoolSprings Galleria in Nashville; and Pearland Town Center in Pearland, Texas.

  • Stop & Shop co-sponsors food benefit outreach program

    NEW YORK — Supermarket chain Stop & Shop will work with Foodshare to sponsor events at its stores in Hartford, Conn., to help qualifying residents access the Supplemental Nutrition Assistance Program benefit.

    About 70% of Connecticut residents who qualify for SNAP, formerly known as the food stamp program, actually receive the benefit, Stop & Shop said. This is because of such issues as language barriers, lack of transportation or lack of knowledge of the program.

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