Hudson's Bay Co. news and archive

HBC to close Lord & Taylor flagship

As Hudson's Bay Co. losses continue to mount with same-store sales declines across all divisions, the company has announced they will be closing their iconic Lord & Taylor flagship. The closure was announced as the group reported a loss of 308 million dollars for the first quarter ended May 5 compared to 170 million dollars a year ago. Adjusted...

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Business

Saks Fifth Avenue customer data exposed

Saks Fifth Avenue faced a cyber security attack resulting in tens of thousands of customers having their information exposed on an unsecured website. “We take this matter seriously,” said a spokesman for Hudson’s Bay, Saks' parent company. “We want to reassure our customers that no credit, payment or password information was ever exposed. The...

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Retail

M&S offloads Amsterdam flagship site to Hudson's Bay Co.

London - Marks & Spencer has dropped plans to open a second flagship store Amsterdam, the Netherlands, following news that Canadian retailer Hudson's Bay Co. (HBC) it set to enter the country. The British department store group confirms it has sold its intended location for its flagship store on the Rokin to the Canadian department store group...

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Report

HBC purchasing Gilt

Last month, FashionUnited reported that Saks's parent company Hudson's Bay Company was in talks to purchase flash sales site company Gilt Groupe Inc. It seems like the talking is over, because on Thursday, January 7, WWD reported that HBC has purchased Gilt Groupe Inc. for an estimated 250 million dollars in cash. The deal is expected to close...

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Business

HBC purchasing Gilt

Last month, FashionUnited reported that Saks's parent company Hudson's Bay Company was in talks to purchase flash sales site company Gilt Groupe Inc. It seems like the talking is over, because on Thursday, January 7, WWD reported that HBC has purchased Gilt Groupe Inc. for an estimated 250 million dollars in cash. The deal is expected to close...

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Business

HBC in talks to acquire Gilt Groupe Inc.

Gilt Groupe Inc. is currently in talks to be sold to Hudson's Bay Co., the parent company of Saks Fifth Avenue and Lord & Taylor. The unfortunate news for Gilt is that they will be sold for a fraction of the value placed on it by investors four years ago. HBC is expected to acquire Gilt Groupe Inc. for 250 million dollars, a quarter of the 1.1...

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Business

Hudson's Bay Co. cutting 265 jobs

Hudson's Bay Co., the parent company of Saks Fifth Avenue and Lord & Taylor, has announced plans to cut 265 jobs across North America. The department store chain noted that they will be taking a 20 million dollar charge in the third quarter due to this action. The layoffs won't affect any sales associates or employees who work directly in the...

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Hudson’s Bay to buy German department store

London - Hudson’s Bay, the owner of US retailer Saks Fifth Avenue, is buying Germany’s biggest department store chain, Galeria Kaufhof for 2.82 billion euros including certain liabilities, according to a statement from Metro, the current owner of Kaufhof. Toronto-based Hudson’s Bay, which operates its namesake department store in Canada as well...

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People

Hudson's Bay Co. taps Gerald Storch as CEO

Hudson's Bay Co., owner of Saks Fifth Avenue and Lord & Taylor department stores, has tapped former chief executive of Toys 'R' Us Gerald 'Jerry' Storch as new chief executive. He is set to succeed the company's current CEO Richard Baker on January 6, 2015, who will remain on board as executive chairman and governor. Together the two will...

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