Report: Department store retailer losing top digital exec
The chief technology officer of Nordstrom is leaving the company after less than a year on the job.
Kumar Srinivasan is leaving the upscale department store company effective Friday, Jan. 7, to return to India, GeekWire reported.
Srinivasan, who joined Nordstrom in March, after serving as the co-founder and CEO of software company Evocalize. Prior to that, he was the former general manager at Amazon Payments Merchant Solutions unit
With Srinivasan’s departure, Nordstrom plans to take some time to evaluate the long-term leadership structure of its technology team and will continue to actively search to fill several key VP roles in technology, according to GeekWire.
Online powerhouse among retailers looking to buy American Apparel
A few familiar retail names are reportedly in discussions to buy American Apparel.
Amazon and Forever 21 are among the companies in talks with the bankrupt manufacturing and retail company and its advisors about submitting offers ahead of a deadline on Friday, Reuters reported.
Any successful offer would have to top a $66 million stalking horse bid by Canadian apparel manufacturer Gildan Activewear, which American Apparel agreed to when it filed for bankruptcy in November.
Other companies reportedly in discussions with American Apparel include Next Level Apparel, a California-based apparel maker, and brand licensor Authentic Brands Group, according to the report.
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Utah mall has replacement lined up for closing Macy’s
CBL announced that it has a replacement anchor lined up for the Macy’s store closing at its Layton Hills Mall in Utah, one of 63 Macy’s locations slated to be shuttered this spring. One other Utah Macy’s is scheduled to close at Cottonwood Mall in Salt Lake City.
CBL would not name the Layton Hills replacement as negotiations are still being finalized, but the mall owner anticipates the space will re-open by year’s end. CBL has entered into an agreement to purchase three other Macy’s buildings on its properties for $5 million. These are at Jefferson Mall in Louisville, Parkdale Mall in Beaumont, Texas, and Eastland Mall in Bloomington, Illinois.
“Recapturing these stores will allow us to take space that is underperforming and convert it into new retail, dining, and entertainment uses, driving increased traffic to the entire property,” said CBL president and CEO Stephen Lebovitz.