eCommerce

Ann Arbor, Mich. -- A Wednesday report by Detroit News said that Borders Group Inc. has appointed turnaround specialist Ojas Shah as its CFO to lead the company toward final liquidation.

Shah has been a director of Alix Partners, the firm providing financial restructuring and bankruptcy services to Borders.

Borders, which filed for Chapter 11 bankruptcy protection in February, is slated to close all stores effective Sunday, Sept. 18.

Hong Kong -- On the heels of a 98% drop in its yearly earnings, Esprit Holdings said it is divesting its North American businesses and exiting three major European markets.

The company said it is actively looking for a partner willing to acquire its North American operations, which include 93 stores in the United States.

BURLINGTON, N.J. — Burlington Coat Factory reported that total sales for its second quarter increased 8.9% to $793 million and comparable-store sales were up 4%.

For the year-to-date, total sales rose 6.1% to $1.8 billion and same-store sales climbed 2.1%.

Portland, Ore. -- Daily deal site LivingSocial said Tuesday that it has reached new records with its first nationwide grocery deal, implemented with Whole Foods Market.

The debut deal offered shoppers $20 worth of products at Whole Foods for $10.

WASHINGTON — Retail sales for the month of August were flat, the U.S. Census Bureau disclosed on Wednesday.

Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, sales totaled $389.5 billion. Compared with the year-ago period, however, sales rose 7.2%. Trade sales edged up slightly by 0.1% from July, as well as 7.5% above August 2010.

New York City -- Toys “R” Us is cutting back on the number of temporary holiday stores it opens this year compared with last, but it is significantly expanding the number of exclusive products it offers, chairman and CEO Jerry Storch said at a press conference Wednesday. The retail chief’s bet on the hottest toy of the season: Animal Planet’s Air Swimmers line (helium-filled, radio-controlled flying fish), which will be available only at Toys “R” stores and via its website.

Washington, D.C. -- A report released Wednesday by the Commerce Department said that retail sales were flat in August, the weakest showing in three months.

Apparel retail sales fell 0.7% in August, following a 0.3% decline in July.  Department store sales declined 0.3%.  General merchandise stores such as Wal-Mart and Target fared better, with 0.1% gains. Analysts said Hurricane Irene likely disrupted sales in late August along most of the East Coast.

SEATTLE and NEW YORK — While the threat of having to collect state sales tax still looms, Amazon.com continues to find new revenue sources. The company announced Tuesday that it will become the largest third-party seller of Hearst magazine subscriptions through an expanded agreement with Hearst Corp. Inc. (NASDAQ: AMZN - News) and Hearst Corporation today announced that the two companies have entered into an expanded, multi-faceted consumer marketing, e-commerce and content relationship.