International Business

Hoffman Estates, Ill. – Sears Holding Corp. is forming a real estate investment trust (REIT) called Seritage Growth Properties, which will purchase 254 Sears and Kmart stores for more than $2.5 billion. Seritage will partially fund the transaction through a public rights offering.

Washington, D.C. – President Barack Obama has signed an executive order creating sanctions for cybercriminals who engage in crimes against the U.S. from foreign locations. The order allows the U.S. to impose sanctions on individuals who harm critical infrastructure, damage computer systems, or steal trade secrets, and sensitive information through cyberattacks based outside the U.S.

The order does not specify what type of sanctions can be imposed.

Hong Kong – Alibaba Group Holding Ltd. has appointed Yu Yongfu as president of the company’s online marketing unit, Alimama, to spearhead the business into new areas of growth. Yongfu joined Alibaba Group in June 2014 to lead the company’s mobile business unit.

Prior to joining Alibaba Group, Yongfu was chief executive of Chinese mobile browser company UCWeb. UCWeb was acquired by Alibaba Group in June 2014. Yongfu will begin his new position today and will report to Daniel Zhang, Alibaba Group’s COO.

Austin, Texas -- The United States continues to lead e-commerce among the most Internet-friendly markets surveyed in North America and Europe, according to an international study commissioned by RetailMeNot.

New York -- Europe's largest home improvement retailer, Kingfisher, plans to close about 60 underperforming B&Q stores in Britain amid a 7.5% decrease in annual profit, Reuters reported.

Currently, B&Q operates some 360 stores.

In other news, Kevin O'Byrne, CEO for B&Q U.K. and Ireland, will leave the company on May 15, the report said.

Hampstead, Md. – Jos. A. Bank Clothiers is reportedly laying off 122 workers at its corporate headquarters. According to Reuters, the cuts will occur between May and December 2015, and represent about 15% of its total headquarters personnel. The layoffs come nearly one year after the company was acquired by Men’s Wearhouse.

Aliso Viejo, Calif. – Global e-commerce site Rakuten.com is now accepting Bitcoin as payment by integrating Bitnet’s payment processing platform. Rakuten.com merchants will obtain guaranteed payment, instant global reach with no cross-border fees or chargebacks, with a transaction fees less than that of credit cards.

Rakuten.com shoppers will receive full consumer protection, including multi-sig escrow services for high-value items.

Ascena Retail Group has named Brian Lynch, a 35-year fashion and retail industry veteran, as president and CEO of its Justice stores<span style="color: rgb(54, 54, 54); font-family: open_sansregular, Arial, Helvetica, sans-serif; fo