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New York City -- Forever 21 signed an agreement Tuesday to open a flagship in Beijing, China, one part of a plan by the fast-fashion retailer to expand into the world’s largest emerging consumer market, according to the Los Angeles Times.

The Los Angeles-based chain will open a 24,000-sq-.ft. store in a multi-story mall located in Beijing’s central shopping district, Wangfujing, with additional stores set to open in Shanghai and Hong Kong, the report said.

PARIS — Gap Inc. announced the opening of its first Banana Republic store on Avenue des Champs Élysées in Pais, France. According to the company, the 15,952-sq.-ft. space will house the brand’s women’s and men’s collections and represents the most contemporary expression of the brand globally.

Paris -- Gap Inc. announced Thursday the opening of its first Banana Republic store in France, located in Paris on Avenue des Champs Élysées.

The 15,952-sq.-ft. space will house the brand’s women’s and men’s collections. “We are thrilled to open our first Banana Republic store in France -- a brand-building flagship in Paris -- and reach yet another important milestone for our international growth strategy,” said Stephen Sunnucks, president, International, Gap Inc.

Suffern, N.Y. -- Ascena Retail Group said Thursday it has appointed Jeff Gerstel as president of Dressbarn, and named George Goldfarb as president of its Maurices brand, both effective immediately.

The new executives will report to David Jaffe, president and CEO of Ascena Retail Group.

Gerstel joined Dressbarn in 2006 as senior VP operations and most recently served as executive VP and COO.

Goldfarb joined Maurices in 1985, was named CFO in 2003, and most recently was its executive VP and COO.

Pittsburgh -- American Eagle Outfitters Inc. reported that its third-quarter net income increased 59%, helped by a year-ago charge. The chain posted fourth-quarter guidance that was above Wall Street expectations.

For the August-October quarter, the company said net income was $52.4 million, compared with $33 million in the same period last year. Analysts expected 26 cents per share.

Revenue rose 11% to $831.8 million, from $751.5 million last year. Analysts expected $820.3 million. Same-store sales rose 5%, as did online revenue.

New York City -- Five state leaders in India made clear over the weekend their unwillingness to let foreign retailers set up shop in the country, the Associated Press reported.

Parliament adjourned Monday in an uproar over the issue and Communist Party-controlled trade unions have pledged to strike Thursday, the report said, and some politicians even threatened to burn down foreign stores that open under the new rules.

The new year will see a changing of the guard in the chief executive’s office of several big retailers. Here are four to watch:

Costco
The torch has been passed at Costco Wholesale Corp., with president and COO Craig Jelinek stepping into the very big shoes of the company’s longtime chief executive and co-founder Jim Sinegal (effective January 1, 2012).

Niwot, Colo. -- Casual footwear-retailer Crocs debuted its new concept store, with locations in Mall of America, Bloomington, Minn.; Barton Creek, Austin, Tex.; and Streets at Southpoint, Durham, N.C.