Hudson's Bay Company news and archive

Saks Fifth Avenue e-commerce to operate as standalone entity

Following a new minority equity investment by Insight Partners, Saks Fifth Avenue’s e-commerce site is set to become a standalone entity, known simply as Saks. A partnership between the growth capital firm, which made a 500 million dollar investment in the retailer, and Saks’ owner Hudson’s Bay Company (HBC) has valued the business at two...

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...

BusinessFeatured

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 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...

BusinessFeatured

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...

Business

Germany’s two largest department stores get go-ahead for merger

The merger of the two largest department stores in Germany, Kaufhof and Karstadt, has been approved by The Federal Cartel Office, Germany's national competition regulator, after the office decided that there were no competition concerns in light of the growing importance of online commerce for consumers. ”We examined the project intensively....