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Ann Taylor to make Canadian debut
New York -- Ann Inc. announced Thursday that it will open two stores in Toronto, in fall 2012, marking the apparel retailer’s first foray outside the United States.
“Toronto is the perfect location to open our first international stores. It is a beautiful city filled with modern, sophisticated women who lead busy lives, and we are excited to bring a trusted fashion destination that offers great style as well as incredible versatility,” said head designer Lisa Axelson.
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Best Buy Q1 profit down 26%, but beats Street
Minneapolis -- Best Buy said its profit for the first quarter fell 26% amid higher restructuring charges and lower comparable store sales. However, adjusted earnings topped analysts' expectations and the company maintained its earnings outlook for fiscal 2013.
Best Buy said its profit fell to $158 million in the quarter ended May 5, from $212 million in the year-ago period.
Revenue rose 2% to $11.61 billion, helped by an extra week, and sales of tablets and mobile phones. International sales fell on weakness in China and Europe.