International Business

Princeton, N.J. -- A report released Tuesday by NAI Global said that real estate conditions worldwide had stabilized and were beginning to improve.

According to NAI Global’s 25th annual Global Market Report, after a prolonged, challenging period marked by frozen credit, sidelined investors, stalled development, rising vacancy rates and declining rental rates and property values, modest improvement is expected in just about every market sector and geography in 2011.

HOFFMAN ESTATES, Ill. - Sears Holdings' SVP procurement and finance has been promoted.

Deidra Cheeks Merriwether now holds the title of SVP and president retail services, succeeding James Haworth. In this role, Merriwether, who joined the corporation in 2001, will be responsible for the oversight and leadership of retail services for the broadline retailer's Kmart and Sears stores.

Merriwether currently serves as a member of Sears Canada's board of directors and is the executive sponsor of the company's African-American Associate Network.

Goodlettsville, Tenn. -- Building on its plans to open 625 new stores in fiscal 2011, Dollar General Corp. announced that it will create 6,000 new jobs. The new stores and jobs will be spread among Dollar General’s existing 35-state operating area, as well as three new states: Connecticut, Nevada and New Hampshire.

In addition to 625 new stores, the company plans to remodel or relocate 550 stores.

Stratham, N.H. -- A Tuesday report by the Wall Street Journal said that outdoor gear retailer Timberland will expand its presence in mainland China from 110 stores currently to double that number.

According to the company’s president and CEO, Jeffrey Swartz, who was interviewed by WSJ, the retailer sees the potential to more than double its doors in the next three years.

Swartz said one way his company can connect with Chinese consumers is by highlighting its environmental credentials.

The recent global economic downturn has left its mark on the retail industry and marketplace. As global companies emerge from the recession, CXOs of various Fortune 1000 companies across the globe representing the consumer-packaged goods, retail, quick service restaurants and other sectors have passionately articulated a common set of needs:  to leverage their scale, to be truly global and to use their information as an asset. These needs have led to an increased interest in a global shared services model.

TORONTO - Sears Canada announced that it has appointed Sharon Driscoll as SVP and CFO. Driscoll has held her current position with the company as SVP finance, since November of 2008.

Prior to joining Sears in 2008, Driscoll was employed with Loblaw Companies Limited, holding the position of SVP corporate development, and before that SVP finance national merchandising and SVP finance retail Ontario region. 

Atlanta -- Oxford Industries has acquired Sugartown Worldwide, the owner of the upscale women's lifestyle brand Lilly Pulitzer, which sells to better specialty and department stores as well as through its stores and other direct to consumer channels.