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Hudson's Bay Co. (HBC)

  • Hudson’s Bay appoints Harrod’s exec to run Saks

    Toronto -- Hudson’s Bay Co. (HBC) has appointed Marigay McKee, chief merchant of Harrods, as the future president of Saks Fifth Avenue. The appointment follows the news that Saks chairman and CEO Stephen Sadove and president and chief merchant Ronald Frasch will leave the company once it is acquired by Hudson's Bay.

  • Changing of the guard at Saks

    NEW YORK — Saks has announced that upon completion of its acquisition by Hudson’s Bay Company Stephen I. Sadove, chairman and CEO of Saks, and Ronald L. Frasch, president and chief merchant of Saks, will be leaving the company.

  • Saks CEO to exit after Hudson’s Bay deal closes; chief merchant also leaving

    New York -- Saks Inc. announced that its chairman and CEO, Stephen I. Sadove, along with the company’s president and chief merchant, Ronald L. Frasch, plan to leave the company following the closing of its acquisition by Canadian retailer Hudson's Bay Co.

  • Same-store, e-commerce sales help HBC swing to profit

    Toronto – Hudson’s Bay Company (HBC) reported net earnings of $3.9 million in the second quarter of fiscal 2013, compared to a net loss of $2 million in the second quarter of the previous fiscal year.

    In addition, HBC reported consolidated sales of $947.7 million, up 3.9% from $911.9 million. The retailer credited consolidated same-store sales growth of 3.5% and e-commerce sales growth of 56.1% to $37.3 million as helping to drive its healthy overall performance.

  • Hudson’s Bay e-commerce efforts pay off in second quarter

    TORONTO — Hudson's Bay Company's second quarter was characterized by strong same store sales growth at Hudson’s Bay and rising e-commerce sales, which were partially offset by a decline in same store sales at Lord & Taylor.

  • No alternate suitors appear for Saks

    New York -- The planned merger between Saks Inc. and Hudson’s Bay Company (HBC) took another step forward with the expiration of the 40-day “go shop” period for Saks on Sept. 6. As previously disclosed, the merger agreement entered into on July 28, 2013 between Saks and HBC contained a 40-day “go-shop” period during which Saks was permitted to solicit alternative proposals from third parties.

  • Saks sees same-store sales increase for Q2, but not much sales growth

    Strengths in several merchandise categories, including women’s contemporary and advanced designer apparel; fragrances; children’s apparel; and men’s accessories, shoes and contemporary apparel contributed to a comparable store sales increase of 1.5% in the second quarter ended August 3 at Saks Incorporated.

  • Saks Q2 misses as loss widens

    New York -- Saks Inc. on Monday reported a worse than expected second-quarter loss amid disappointing sales of shoes and handbags. 

    Saks, which last month reached a deal to be acquired by Canada's Hudson's Bay Co., had a net loss of $19.6 million for the quarter ended Aug. 3, compared with a net loss of $12.3 million a year earlier.

    Overall sales rose 0.5% to $707.8 million for the quarter. Same-store sales rose 1.5%, below the 4.5% increase analysts had expected.

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