International Business

CINCINNATI -- The Procter & Gamble announced the following organizational changes:

Edward Shirley, vice chairman beauty and grooming, will retire from P&G, effective Jan. 1, 2012, after 33 years service.  Until that time, effective July 1, Shirley has been named vice chairman on special assignment, continuing to report to Robert McDonald, chairman of the board, president and CEO.  

New York City -- Retailers from around the world have until May 20 to enter the annual global competition, the Oracle World Retail Awards. Online entry is open at worldretailcongress.com.

The awards, designed to recognize the outstanding innovation and creativity delivered by l retailers worldwide, are presented each year at a gala event during the World Retail Congress. This year’s presentation will be held Sept. 27 in Berlin.

The winners in 2010 were as follows:

Hampstead, Md. -- JoS. A. Bank Clothiers is now allowing international customers to place orders on its website. The retailer is now able to deliver website orders to customers in over 90 countries. JoS. A. Bank will utilize a third-party provider, FiftyOne Global Ecommerce (“FiftyOne”), New York City, to facilitate the checkout of the orders and to export and deliver the orders to the international destinations.

PLANO, Texas -- JCPenney has completed a new five-year $1.25 billion bank credit facility.

The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.

New York City -- Hudson’s Bay Co. will test its HBC’s Home Outfitters concept in the United States, opening two stores in New Jersey in late summer, The Globe and Mail reported.

If successful, the company will further expand the home-goods concept, which will be called Lord & Taylor Home in the United States. (Hudson’s Bay and Lord & Taylor are owned by Purchase, N.Y.-based NRDC Equity Partners.)

Plano, Texas -- J. C. Penney Corp. has completed a new five-year $1.25 billion bank credit facility.

The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.
 

New York City -- Target Corp. was due in court in Canada on Monday in an attempt to win exclusive right to use its name in Canada, the Wall Street Journal reported.

Target is asking the court to impose a preliminary injunction against Canadian retailer Isaac Benitah and his company, Fairweather, which owns 15 stores across Canada called Target Apparel and has a logo similar to that of Target Corp, the report said.

Pleasanton, Calif. -- Taxes related to Safeway's effort to pay down debt reduced its first-quarter net income, but the company's adjusted results beat Wall Street's expectations as its revenue rose, the Associated Press reported.

The company earned $25.1 million for the quarter, compared with $96 million a year earlier. This includes a tax charge related to a plan to pay down its U.S. debt with part of a $1.1 billion dividend in cash and debt from its Canadian operations.