DSW to sell or close Ebuys unit

COLUMBUS — DSW is giving up on Ebuys only two years after buying the off-price, online footwear and accessories retailer.

“DSW is actively pursuing the possible sale of the Ebuys business. If we are unable to complete the sale of the business or sell its assets, we intend to close the business in 60 to 90 days,” said Christina Cheng, senior director of investor relations.

The Columbus-based footwear and accessories retailer bought Ebuys in February 2016 for $62.5 million.

The acquisition was intended to add to DSW’s off-price sourcing capabilities, expand the company’s presence in the digital marketplace and reach international customers online, CEO Roger Rawlins said at the time. last year.

The toy retailer said Thursday it will open locations in Beijing and Shanghai this year through a collaboration with China’s largest toy distributor, Kidsland. Kidsland will also open 30 smaller FAO Schwarz stores and shops in 200 department stores across China over the next five years.

FAO Schwarz also signed an agreement with Hudson Group, one of the largest travel retailers in North America, to open a chain of FAO Schwarz-branded airport shops in the U.S. and Canada. The first will open later this year.

Late last year, it opened shops in more than 5,000 retailers in the U.S. a 0.4 percent rise in November, the Labor Department reported Thursday. The big gains last month and in November were both driven by sharp increases in the cost of gasoline and other energy products.

Sears shares rose more than 16 percent, or 37 cents, to $2.67 per share in afternoon trading.