International Business

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.

Pittsburgh - American Eagle Outfitters on Tuesday detailed its plans to open Eagle Outfitters and Aerie by American Eagle stores in Japan, in partnership with Sumikin Bussan Corporation. The first store is slated to open in Tokyo’s legendary Harajuku shopping district in the first half of 2012.

AEO has signed an exclusive franchise agreement with Sumikin, a leading marketer, importer and exporter with extensive experience in the fashion industry.

PITTSBURGH - American Eagle Outfitters announced its plans for American Eagle Outfitters and Aerie by American Eagle stores in Japan, in partnership with Sumikin Bussan Corporation. The first store is slated to open in Tokyo’s Harajuku shopping district in the first half of 2012.

AEO said it has signed an exclusive franchise agreement with Sumikin, a leading marketer, importer and exporter with extensive experience in the fashion industry, among other lines of business. 

Walmart removed all doubt about how it intends to enter Russia this week when it announced the closure of its office in Moscow. The office was opened two years ago to investigate opportunities in the country, but international division president and CEO Doug McMillon said it no longer made business sense to maintain the facility.

No matter what the politicians in Washington are saying, the United States is married to China. And, this relationship has been nearly 40 years in the making. Ever since Nixon visited China, the United States has become more and more reliant upon low-cost Chinese goods. Indeed, according to The United States Trade Representative, the United States imported nearly $300 billion worth of goods from China in 2009 alone. To the extent an economic recovery in the United States depends on consumers spending at retail, the ability of U.S.