Strategy

New York - It appears that Hudson’s Bay Co. got itself quite a deal when it purchased Saks Fifth Avenue in 2013 for the sum of $2.9 billion, including debt. Saks’s signature  Fifth Avenue flagship has recently been appraised at an whopping $3.65 billion—significantly more than Hudson’s Bay paid for the entire chain.  As much as anything, however, the appraisal reflects the strength of Manhattan’s retail real estate market.

CHICAGO - Best Buy’s 43 Chicagoland stores are sporting a fresher look and assortment upgrades after the retailer’s $20 million overhaul earlier this year.

The stores’ face-lifts cover multiple areas, from new fixtures, carpeting, lighting and paint, to new customer experiences and shopping areas in stores.

Store enhancements include:

With the value of its flagship store on New York City’s Fifth Avenue appraised at an astonishing $3.7 billion, Saks parent Hudson’s Bay Co. has taken out a $1.25 billion loan to pay down debt and finance a $250 million renovation in 2015.

By Veena A. Iyer, Nilan Johnson Lewis   

Redbox is raising its prices in an effort to boost stagnant sales and get more revenue out of its existing customers.  

The merchandising organization at Walmart is being transformed again following the departure of EVP and Chief Merchandising Officer Duncan Mac Naughton, which triggered several other high level moves.

FOOTHILL RANCH, Calif. - The Wet Seal announced that Thomas R. Hillebrandt will assume the role of interim CFO, effective December 1, 2014, concurrent with the previously announced resignation of Steven H. Benrubi, the company’s current CFO.   Hillebrandt has served as VP and corporate controller at Wet Seal since September 2013.   

New York – Ann Inc. beat Wall Street expectations for the third quarter with net income of $29.9 million, down 27% from $41.2 million the same quarter a year earlier. Pre-tax and after-tax charges associated with the closure of the Madison Avenue Ann Taylor store helped drive down net income.