DSW abandons e-commerce startup

Shoe retail chain DSW Inc. yesterday announced the closure of its e-commerce startup called Ebuys.

In March 2016, DSW purchased the parent company of retail sites ShoeMetro and ApparelSave in an effort to beef up its online presence. However, those efforts were largely unsuccessful.

Last year, DSW wrote down the value of Ebuys on its balance sheet by $52.7 million. It had sought a buyer, but now will begin a liquidation process having not found one.

Read more from The Wall Street Journal.