Hudson's Bay Company news and archive

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....

Management

Hudson's Bay Company: Q2 revenues decline 2 percent

During the second quarter, Hudson’s Bay Company (HBC), which announced a plan to sell its controlling interest in HBC Europe and to form a strategic partnership for its European businesses yesterday, reported revenue of 2,160 million Canadian dollars (1,653 million dollars), a decrease of 44 million Canadian dollars (33.6 million dollars) or 2...

Report

HBC’s board director Denise Pickett steps down

Hudsons Bay Company (HBC) has announced that Denise Pickett has stepped down as a director of the company to focus on her responsibilities at American Express. The company added that it has initiated a search for a new director to replace Pickett. "Over the past six years, Denise has been a valuable member of HBC's board and I would like to...

Business

Ivanka Trump out of fashion at Canadian retailer

Ivanka Trump's clothing line is disappearing from the shelves of Canadian retailer Hudson's Bay Company, the firm says, more than a year after some US department stores dropped the items. "Hudson's Bay is phasing out this brand through the fall based on its performance," the company said in an email to AFP. "As part of our regular course of...

Report |UPDATE

HBC refutes media reports suggesting finalisation of Signa JV

Hudson’s Bay Company has clarified through a statement that contrary to recent reports it has not signed a binding agreement to sell or combine its European business or properties. Media reports suggested that it has entered into a deal to sell half of its European business to Austria’s Signa Holding. The reports stated that development would...

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Hudson’s Bay to sell half its European business to Signa - report

Hudson’s Bay Company (HBC) and Austria’s Signa Holding have signed a deal that would see HBC selling around half of its European business to Signa. The development would bring two major German department store chains Kaufhof and Karstadt together, reports Reuters quoting German magazine WirtschaftsWoche. A “proposed merger of equals for the...

Management

HBC in talks with Signa for Kaufhof JV

Hudson’s Bay Company (HBC) is said to be in talks with Austrian property and retail group Signa Holding GmbH to form a joint venture for its German retail chain Kaufhof, reports Reuters quoting sources familiar with the development. Canada-based HBC had earlier rejected Signa’s 3 billion euros (3.7 billion dollars) bid for Kaufhof earlier this...

ManagementFeatured

HBC's Q1 net loss widens, comparable sales decline 0.7 percent

Hudson’s Bay Company (HBC) reported revenue of 3,088 million Canadian dollars (2,374.7 million dollars), an increase of 30 million Canadian dollars (23 million dollars) or 1 percent for the thirteen week period ended May 5, 2018. Overall comparable sales declined 0.7 percent, with total comparable digital sales increasing 7.7 percent. Net loss...

Report

HBC appoints Stephen Gold as Chief Technology Officer

Hudson’s Bay Company (HBC) has appointed Stephen J. Gold as Chief Technology and Digital Operations Officer. The company said, Gold will be responsible for leading the technology and digital strategy for HBC, with a focus on aligning the end-to-end customer experience through data and digital innovation across the enterprise and HBC's banners in...

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HBC names Bari Harlam its Chief Marketing Officer

Hudson’s Bay Company (HBC) has roped in Bari Harlam as the company’s new Chief Marketing Officer, effective immediately. She replaces Milton Pappas, who has left the business. HBC said, Harlam will lead HBC's Marketing Center of Excellence, charged with advancing the company's approach to marketing through data-driven customer insights across...

Report

Hudson’s Bay Company rejects Signa offer for its German business

Hudson’s Bay Company (HBC) has announced that after a review and consideration conducted in consultation with financial and legal advisors which included an in-person meeting with Signa Holding GmbH and its advisors, the company’s board of directors has unanimously rejected the unsolicited proposal to acquire the German business and related real...

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Saks Fifth Avenue President Marc Metrick expands his leadership role

Hudson's Bay Company (HBC) has announced that Marc Metrick, President of Saks Fifth Avenue, will expand his leadership role to include Gilt and Saks OFF 5TH. In this capacity, the company said, Metrick will lead distinct teams and work to ensure that each business remains well positioned to execute within their respective operating structures....