Mergers & Acquisitions

Seattle -- Starbucks Corp. reported Thursday that it scored record results in the quarter ended July 3, prompting the retailer to accelerate its 2012 new store opening targets to 800 net new stores globally.

Starbucks grew profits 34% in the third quarter, to $279 million from $208 million in the year-ago period. Sales rose 12% to $2.9 billion from $2.6 billion, topping Wall Street estimates.

Same-store sales globally surged 8%, buoyed by a 6% increase in traffic and a 2% increase in average ticket.

London -- A Friday report by the United Kingdom’s The Independent newspaper said that San Francisco-based Williams-Sonoma is planning a U.K. launch in 2012.

The report said that the company has appointed a U.K. retail property agent and plans to open its first store in the first half of next year.

Plans call for a London debut and the report said the retailer is seeking 5,000-sq.-ft. to 8,000-sq.-ft. spaces.
 

NEW YORK — Liz Claiborne, the parent company behind such premium brands as Juicy Couture, Kate Spade and Lucky Brand, department store-based brands including Kensie and the licensed DKNY Jeans and DKNY Active brands and its own retail brands, reported second quarter net sales of $556 million, an increase of 3.5% from the second quarter last year. 

Los Angeles -- Westfield Group shopping center owner said in a statement that it has agreed in principle to joint-venture with the Port Authority of New York and New Jersey the new retail precinct at the site of the New York World Trade Center.

Westfield, upon completion of the deal, would manage and lease out the retail space expected to open in early 2015.

BENTONVILLE, Ark. -- A Wednesday report by Bloomberg said that Wal-Mart Stores has named Morten Knudsen as CFO for Asia, as the retailer recasts its leadership roles in the region amidst top-heavy turnover.

Knudsen, who was previously VP for corporate finance in Asia for Danone, takes the financial chief spot for Wal-Mart Asia effective Sept. 1.

Since May, Walmart has lost Japanese chief Toru Noda and three of its top executives in China, including the CFO and COO Roland Lawrence and Rob Cissell, respectively.

Topeka, Kan. -- Collective Brands, parent to Payless ShoeSource, announced Thursday the opening of its 100th franchise store, which is located in Cirebon, Indonesia.

The store represents the seventh store in Indonesia to date and the overall rapid international expansion of the Payless store chain over the past two years through its franchise strategy.

Wal-Mart Stores president and CEO Mike Duke was on Capitol Hill this week making the case for modernizing the U.S. tax code even as Democratic and Republican lawmakers continued to engage in brinksmanship over what all agree is a disturbing level of national indebtedness. Duke testified before the United States Senate Committee on Finance, which was holding hearings on CEO perspectives on how the tax code affects hiring, businesses and economic growth. A transcript of his prepared remarks appears below:

Austin -- Whole Foods Market reported Wednesday a profit jump of 35% to $88.5 million, compared with $65.7 million in the year-earlier period.

Revenue rose 11% to $2.4 billion, meeting Wall Street expectations, and same-store sales rose 8.4%.