Report: Nordstrom Explores Options
Seattle, Nordstrom on Thursday downplayed a report that said the company is close to making a deal to sell its Faconnable brand of upscale clothing and accessories, according to a report by Seattle Post-Intelligencer.
“It’s true we are exploring strategic alternatives for the brand,” said Michael Boyd, a Nordstrom spokesman. “That may or may not include a sale. We are simply exploring options that would benefit Nordstrom and Faconnable.”
Boyd said the company wouldn’t comment on the New York Post article that said bids came in at $200 million for the unit. The story also said Nordstrom paid $350 million for Faconnable, when company records show it actually paid about $169 million.
Nordstrom in February said it was selling Faconnable, the high-priced French-based clothing line, which is sold in its mainline stores and at four U.S. boutiques. The brand is also sold in 23 other countries, and Nordstrom has 36 Faconnable boutiques in Europe.
GSI to operate NBA online store
KING OF PRUSSIA, Pa. GSI Commerce Inc. has announced that they have agreed to provide the National Basketball Association with full-service, e-commerce operations for the NBA, the Women’s National Basketball Association and NBA Development League. GSI will provide the league’s online stores with online merchandising, e-commerce technology, order processing, logistics, customer care, and online retail marketing services.
With the NBA’s selection of GSI, the company now has e-commerce agreements to operate the online stores for the major professional sports leagues in the United States including, Major League Baseball, the NFL, the NHL, and NASCAR.
According to GSI, a redesigned online store with an expanded assortment of merchandise is scheduled to launch on the GSI platform this fall, before the start of the 2007-2008 basketball season.The new online store will feature enhanced customer shopping features such as mini-carts, express shops, parametric search, advanced product reviews and ratings, and multiple alternative payment options.
In addition to operating on GSI’s e-commerce platform and integrating the online store with the NBA’s content site, the NBA will use GSI for online marketing, which will include search, affiliate marketing, and marketing with comparison shopping engines.
Dollar General ceo to resign after merger
GOODLETSVILLE, Tenn. Dollar General has announced that its chairman and ceo, David Perdue is expected to resign from the company following the completion of the merger with Buck Acquisition Corp., an affiliate of Kohlberg Kravis Roberts & Co., which was approved at a special meeting of shareholders held today.
KKR said it expects the company’s current president and coo, David Bere, to be named the company’s interim ceo while a search for a new ceo is undertaken.
Dollar General said it expects the merger to close on or about July 6, subject to the satisfaction or waiver of closing conditions.