eCommerce

Bankrupt fashion retailer BCBG Max Azria Group has reached an agreement on a comprehensive restructuring.   It includes the possible sale of nearly all the retailer's assets to Marquee Brands LLC and Global Brands Group Holding Limited. The completion of the transactions with Marquee and Global Brands are expected to immediately follow approval by the United States Bankruptcy Court. The expected closing date is no later than July 31, 2017.   

One of the world's largest retailers has appointed a new chief executive as its looks to catch up with the online revolution and shore up its home performance.   Carrefour has named Alexandre Bompard, 44, as its new chairman and CEO, effective July 18, ending an eight-month search. He succeeds Georges Plassat, who has served in the top position at the hypermarket retailer, which operates more than 11,900 stores in over 30 countries, since 2012.   

It appears that L'Oreal has settled on a buyer for The Body Shop.   The French cosmetics giant is in exclusive talks to sell its Body Shop division to Brazilian make-up company Natura Cosmeticos, Bloomberg reported. The reported price: $1.1 billion,   Natura is the largest Brazilian cosmetics company.   The transaction would be subject to regulatory approval and would be expected to close later this year.    

Amazon continues to expand its footprint of distribution centers.   Amazon is set to break ground on its first fulfillment center in the state of Oregon. The 855,000-sq.-ft. facility, which will be located in Troutdale, will augment the company’s sortation center in Hillsboro, and Prime Now hub in Portland.  

Ascena Retail Group, operators of such brands as Ann Taylor, Lane Bryant and Dressbarn, is planning to close hundreds of stores. The news came on the heels of a brutal third quarter.   The company reported a net loss of $1.031 billion, or $5.29 per diluted share in the third quarter ended April 29, compared to net income of $15 million last year, or $0.08 per diluted share, in the year-ago quarter.   

Greg Portell, lead partner in the retail practice of A.T. Kearney, a global strategy and management consulting firm, answers a few questions regarding the news that Nordstrom may go private.    What does this move mean for Nordstrom — how might it play out?  

Amazon’s lending program has hit epic proportions, with one-third of loans being granted in the last year, alone.   The online giant’s Amazon Lending program has surpassed $3 billion in loans to small businesses since the service launched in 2011. Specifically, Amazon has lent more than $1 billion to small businesses in the last 12 months, and more than 20,000 small businesses have received a loan from Amazon.  

A retailer that does nearly all of its transactions online has the most popular store credit card.   Amazon wins the store card battle, ranking as the top choice among consumers with store cards (32%), followed closely by Target (30%) and then Macy’s (24%).