HBC news and archive

HBC names Michael Culhane CFO

HBC L.P., the parent company of Saks Fifth Avenue, has appointed Michael Culhane as chief financial officer of HBC. Culhane brings more than 30 years of finance and accounting experience primarily in the retail sector. Most recently, Culhane served as chief financial officer at ULINE, Inc., a privately-held shipping and industrial supplies...

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Saks OFF 5th appoints ex Nordstrom Paige Thomas as president

New York – HBC (TSX: HBC) announced Monday they have appointed Paige Thomas as President of Saks Off 5TH, effective immediately. “Paige has a proven track record of achieving aggressive growth within off-price retail through superior cross-channel customer experiences,” said in the corporate announcement Helena Foulkes, CEO at HBC, owner of Saks...

People

Hudson’s Bay appoints Iain Nairn as President

Hudson’s Bay has appointed Iain Nairn as President, effective January 12th, 2020. The company said in a statement that a highly-accomplished retail executive, Nairn has a remarkable track record of driving profitable growth and transformational change at a wide variety of retailers, from specialty to department store formats. He reports directly...

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Q3 net loss widens at Hudson’s Bay Company, same-store sales drop

Hudson’s Bay Company’s (HBC) third quarter comparable sales declined 1.7 percent. Third quarter revenues totalled 1.8 billion Canadian dollars, including 55 million Canadian dollars from liquidating stores at Saks Off 5th, Hudson’s Bay clearance centers, and HBC Netherlands. Digital sales increased 15 percent year-over year due to continued...

Business

Hudson's Bay Netherlands requests for deferment of payment

After announcing plans to exit the Dutch market in September this year, Hudson’s Bay Netherlands has now requested a deferment of payment, reports RTL Z. According to the report, the Hudson’s Bay has announced that says “it can no longer meet the payment obligations due to the court decision and the periodic penalty payments that were imposed...

Business

Hudson's Bay Company sells Lord + Taylor to Le Tote

Hudson’s Bay Company (HBC) has announced completion of the sale of Lord + Taylor to Le Tote, Inc., a fashion rental subscription service, for 99.5 million Canadian dollars (75 million dollars) in cash and a secured promissory note for 32.2 million Canadian dollars (25 million dollars) payable in cash after two years, subject to customary...

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Authentic Brands Group announces success in acquiring Barneys New York

After much speculation, Authentic Brands Group (ABG) announced on Thursday evening that it will acquire Barney’s New York. The global brand development company first placed a bid for the fashion company last week. ABG will acquire the Barneys New York label as well as its associated intellectual property, which includes Barneys, FiveSeventyFive,...

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Hudson’s Bay Company agrees to takeover bid from Baker-led group

Hudson’s Bay Company (HBC) has announced that, it has entered into a definitive arrangement agreement with a group of HBC shareholders backed by Executive Chairman Richard Baker, to take the Company private. The company said in a statement that the shareholder group, who collectively owns approximately 57 percent of the common shares, will be...

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What’s in for Le Tote?: Lord & Taylor’s acquisition

New York – Hudson's Bay Company (HBAYF) has announced it has sold Lord & Taylor brand to Le Tote, Inc., a fashion rental subscription service, for 75 million dollars. The deal, originally expected to close at 100 million, signals a new era for the oldest US department store chain. "Since founding Le Tote, it's been our mission to push the...

People

Lord & Taylor president exits company after one year

Vanessa LeFebvre announced last week that she is leaving her post within Lord & Taylor. The retail executive took over the role of president with the Hudson's Bay-owned retailer last May, following the departure of former president Liz Redbell. LeFebvre joined Lord & Taylor from Stitch Fix, where she served as vice president, women's buying....

Business

HBC in talks to go private

After shuttering Lord & Taylor, selling off Gilt, and working to keep Saks competitive in an increasingly crowded retail field with more luxury e-commerce players popping up, Hudson's Bay Co. is now considering going private. Richard Baker, the executive chairman of Saks, is now leading a bid to take the retail company private. Baker, along with...

BusinessFeatured

HBC sells Lord & Taylor flagship to WeWork for 850 million dollars

The Hudson's Bay Company (HBC) has sold Lord & Taylor, the oldest luxury department store in the US to WeWork Companies. On Tuesday HBC announced a series of strategic transactions with WeWork Companies, Rhône Capital and an affiliate of WeWork Property Advisors, a joint venture between WeWork and Rhôn. The deals include an equity investment by...