International Business

The challenge of spearheading Target’s entry into Canada will be handled by Tony Fisher. He was named president of Target Canada last week in a brief press release that offered little detail on his background or qualifications to lead the company’s efforts to open between 100 and 150 stores beginning in 2013. Here’s what Target had to say about Fisher.

Oakbrook, Ill. -- McDonald’s Corp. said net income for the fourth quarter, ended Dec. 31, 2010, rose 2.1% to $1.24 billion from $1.22 billion a year earlier.

Revenue increased 4% to $6.21 billion in the fourth quarter from $5.97 billion a year earlier. Global same-store sales rose 5% in the quarter, reflecting increases of 4.4% in the United States, 3.4% in Europe and 5.5% in the Asia/Pacific, Middle East and Africa division.

Beachwood, Ohio -- Developers Diversified Realty Corp. announced a new gift-card partnership with MasterCard Worldwide in Puerto Rico.

The MasterCard program, called the Isla Plus Card, represents an extension of a significant, long-term partnership between the two companies in Puerto Rico. The Isla Plus Card is designed to promote even greater acceptance among merchants and consumers, and provide the flexibility consumers demand in gift-card programs.

San Jose, Calif. -- Grubb & Ellis Co. announced that Robert Cook has joined the company as senior VP corporate services, based in the company’s San Jose office. 

Belgium -- Belgian supermarket operator Delhaize Group said Thursday it plans to spend $1.21 billion opening new stores and remodeling existing outlets.

According to a report by Wall Street Journal, Delhaize, which operates mainly under the U.S. Food Lion, Hannaford and Sweet Bay banners, is making the investments despite a fourth quarter same-store sales decline of 0.8%.

Newport Beach, Calif. -- Grubb & Ellis Co. said Friday that H&M has leased 19,600 sq. ft. of retail space at The Forum in Carlsbad. 

The retailer signed a 10-year lease for the space, which includes a portion of the second level of The Forum. The company will take the majority of the space currently occupied by Borders Direct LLC, which is expected to vacate in spring 2011. 

The retailer, which plans to open its Carlsbad location in summer 2011, now has 2,200 stores in 38 countries.

HOUSTON  -- The Men's Wearhouse announced that Grace Nichols has been elected to the company's board of directors, effective January 30, increasing the number of directors to nine.

Little Rock, Ark. -- In a regulatory filing on Wednesday Dillard's said it plans to form a real estate investment trust, with the objective of improving liquidity.

According to the department store retailer, various company entities will transfer interests in properties to the REIT, which will then lease the properties back to them.

"Dillard's believes the formation of a REIT may enhance its ability to access debt or preferred stock and thereby enhance its liquidity," the filing said.