International Business

Hoffman Estates, Ill. -- Sears Holdings Corp. reported on Wednesday that it has ended a three-year search for a permanent CEO, appointing a former technology executive with no retail experience as its new chief executive and president. The company name Lou D’Ambrosio to the position of president and CEO.

Minneapolis -- Best Buy said in fiscal 2012 it will concentrate on growing its smaller-format mobile chain and restructure parts of its supply chain processes to cut costs and improve efficiency. The retailer plans to open about 150 Best Buy Mobile stand-alone-stores in the United States, for a total of some 325 locations by year-end.

Best Buy plans to open about six to eight Best Buy-branded large-format stores in the United States, along with 18 Best Buy stores in Canada, the United Kingdom and Mexico during the year.

FORT MEYERS, Fla. — Chico's FAS announced Tuesday that it has appointed Kent Kleeberger to the position of EVP and COO.

Kleeberger will replace Jeffrey Jones, who is retiring from the company, effective March 7. Jones will serve as part-time consultant to the company during a transition period.

Kleeberger, 58, has served as EVP finance and CFO of Chico's FAS since joining the company in November 2007. Previously, he was SVP and CFO for Dollar Tree Stores.

Minneapolis -- Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.

Mexico City -- Wal-Mart de Mexico SA reported Tuesday that profit for the fourth quarter increased 14%, citing newly acquired stores in Central America for the improved performance.

The Mexican unit of Wal-Mart Stores said that net income rose to $539 million in the fourth quarter, up from $474 million in the year-ago period.

Revenue rose 25% to $8.3 billion. 

Walmex recently acquired stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

NEW IBERIA, La. — The Grocery Manufacturers Association has tapped the leader of a food manufacturer to serve on its board of directors.

J.S. "Si" Brown, president and CEO of Bruce Foods, will serve on GMA's board. Brown has held led the company, which specializes in manufacturing Cajun and Tex-Mex products, since 1973.

Bentonville, Ark. -- Wal-Mart Stores reported Tuesday that earnings for the quarter ended Jan. 31 jumped 27% as its international stores posted strong results. In the United States, however, the retailer posted its seventh straight quarterly sales decline, falling short of its own projections for the holiday period.

NEW IBERIA, La. — The Grocery Manufacturers Association has tapped the leader of a food manufacturer to serve on its board of directors.

J.S. "Si" Brown, president and CEO of Bruce Foods, will serve on GMA's board. Brown has held led the company, which specializes in manufacturing Cajun and Tex-Mex products, since 1973.