Amazon.com Inc is planning to open large physical shops in the United States that will operate like department stores, the Wall Street Journal reported on Thursday, as the e-commerce giant expands its stores footprint.
Mazouzi previously served in various leadership roles at Sears Holdings Corporation, including head of Sears and Kmart footwear, home and fine jewelry and chief financial officer of Sears and Kmart footwear.
The New York-based brand management company announced a net loss of $95.0 million in the fourth quarter on Monday, widening from the loss of $69.1 million reported by the group in the same period in the previous year.
U.S. department store operator Sears has reportedly reached a deal for a fresh financial lifeline totaling roughly $100 million from hedge fund Brigade Capital Management LP, as it tries to stabilize after bankruptcy.
Hudson’s Bay CoChairman Richard Baker won the support of proxy advisory firm Glass Lewis for the takeover of the Canadian retailer, just days after a rival adviser recommended stakeholders vote against the plan.
Sears on Thursday said it had won a $250 million lifeline from lenders that include billionaire owner Eddie Lampert, and will close additional stores, as mounting losses strain the U.S. chain's finances.