International Business

Washington, D.C. -- The National Retail Federation has launched a year-long advocacy campaign to advance a “Jobs, Innovation and Consumer Value Agenda” on behalf of the U.S. retail industry.

Memphis -- AutoZone reported Tuesday that profit for the quarter ended Aug. 27 rose 12% to $301.5 million, compared with $268.9 million in the year-ago period.

Sales rose 8.1% to $2.64 billion from $2.45 billion, topping Wall Street expectations of $2.61 billion in sales. Same-store sales in the U.S. rose 4.5%.

During the quarter, AutoZone opened 68 new stores, replaced five stores, and closed one store in the United States and opened 18 new stores in Mexico.

JACKSONVILLE, Fla. — Stein Mart announced the appointment of Jay Stein as interim CEO, effective immediately, following the retirement of David Stovall, Jr., who has held that position since 2008.

"On behalf of the board, I want to thank Dave for his service to Stein Mart over the last three years, and in particular, his accomplishments in returning the Company to solid profitability," said Jay Stein, chairman of the board of Stein Mart. "We wish him many happy years of well-earned retirement."

New York City -- Best Buy Co. is reviewing its 11 stores in the United Kingdom, according to the Sunday Express.

The chain operates the stores in a joint venture with Carphone Warehouse Group Plc. Best Buy is in talks with its shareholders about all possible options for its British stores, the newspaper said.
 

New York City -- Starbucks Coffee Co. plans to expand in Latin America after concentrating in recent past years more on Asia, founder and CEO Howard Schultz said at a presentation in Madrid, Bloomberg reported.

The chain as about $2 billion in cash to invest in an “aggressive and opportunistic way,” Schultz said, and is especially interested in Brazil, according to the report.

HOLLYWOOD — Frederick’s of Hollywood Group announced that former Gap executive Don Jones has joined the company as president and COO.   

Jones, who most recently served as CEO of Pogan Retail, a consulting firm he founded in 2003. Prior to founding Pogan, Jones served  as SVP stores and operations for Gap Inc., where he was responsible for Gap,  Gap Kids and Gap Body retail stores.  

During his career, Jones also held leadership positions at Target, Ikea, Filene's and Macy's.

Toronto -- Katz Group Canada has announced the retirement of industry veteran Andy Giancamilli as CEO, effective Feb. 2, 2012.  Katz is Canada’s largest integrated pharmacy network, operating more than 1,800 chain, franchise and independent pharmacies,

Giancamilli will remain in an advisory role until May 2012. He will be succeeded by Frank Scorpiniti, who joined the company in April as COO.

Giancamilli came to Katz after serving as executive VP at Canadian Tire. Prior to that, he was president and COO of Kmart.
 

HONG KONG — On the heels of a 98% drop in its yearly earnings, Esprit Holdings said it is divesting its North American businesses and exiting three major European markets.

The company said it is actively looking for a partner willing to acquire its North American operations, which include 93 stores in the United States.