Printable versionU.S. Retailers Pushing to Expand Overseas
07/06/10With Americans cutting back on spending, even retailers that had resisted opening foreign branches are now setting up shop outside the U.S.
As Americans’ love affair with shopping cools, retailers are venturing overseas in search of growth.
Bloomingdale’s and Crate & Barrel each opened their first store outside the U.S. in Dubai this year. Abercrombie & Fitch just opened its first store in London. Sears has begun shipping tools and clothing to 90 countries. Macy’s is looking at going into China. And Target, the discount chain that for a decade has resisted Wall Street pressure to expand internationally, revealed this spring that it wants to open stores outside the U.S. and is looking at Canada, Mexico and Latin America.
Even Wal-Mart Stores Inc. — the retail behemoth that has been operating internationally since 1991—made clear at its annual meeting in June that it was counting on consumers outside the U.S. to make up for stalled sales at home.
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