U.S. retailers end their isolation; Penney's, Wal-Mart, Eddie Bauer, even Pier 1 Imports, set up shop abroad

Many US retailers have reached the conclusion that they must expand internationally if sales growth momentum is to be maintained. A panel discussion at the National Retail Federation's 1995 annual convention drew participation from such retail giants as J.C. Penney, Wal-Mart and Pier 1 Imports. Participating executives spoke of their companies' commitment to expansion in the booming economies of Latin America, the Pacific Rim and Middle East, mainly due to the sluggish market in the US. Discount chain Wal-Mart is developing plans for stores in Latin America, direct importer Pier 1 Imports is working with a partner in the UK and J.C. Penney will open two new stores in Mexico in May 1995.
NEW YORK--The slow, if not stagnant, growth of the U.S. retail sector is forcing American retailers to look toward the boom economies of Latin America, the Pacific Rim and the [...]