Saks Fifth Avenue

Saks Fifth Avenue reduces energy costs with LED retrofit

It’s often said that companies must spend money to make money, and this is true of investments in energy efficiency.

In December 2014, Ecova released the findings of its 2015 Energy and Sustainability Predictions survey to better understand what’s on the minds of those involved in energy and sustainability management.

Seattle – Nordstrom Inc. plans to open Nordstrom Rack at Waikiki Trade Center in Honolulu, Hawaii. The approximately 34,000-sq.-ft., two-level store is scheduled to open in spring 2016.

The property was acquired by Coastwood Capital Group, LLC in late 2013.

Toronto, Canada — Hudson’s Bay Company (HBC) is positioning itself for major global expansion with the purchase of the 15-year-old Galeria Kaufhof department store chain from German retail conglomerate Metro Group for about $3.17 billion. The planned purchase includes 103 Galeria Kaufof stores in Germany, as well as 16 German Sportarena stores and 16 Galeria Inno department stores in Belgium.

Toronto, Canada —Hudson’s Bay Company (HBC) is positioning itself for major global expansion with the purchase of the 15-year-old Galeria Kaufhof department store chain from German retail conglomerate Metro Group for about $3.17 billion. The planned purchase includes 103 Galeria Kaufof stores in Germany, as well as 16 German Sportarena stores and 16 Galeria Inno department stores in Belgium.

Toronto, Canada – Hudson’s Bay Co. Inc. (HBC) swung a net loss of $54 million in the first quarter of fiscal 2015 from net earnings of $176 million in the year-ago period amid higher selling, general and administrative (SG&A) expenses even as as sales showed strong improvement.  

Saks Off 5th helped its parent, Hudson’s Bay Co., increase same store sales in the first quarter, although the company did report a larger loss.

HBC reported that for the first quarter ended May 2, same store sales increased 2.7%. The company posted a loss of $44 million, compared with a profit of C$176 million, or 97 Canadian cents, a year earlier. Adjusted to exclude restructuring and other items, the loss was C$33 million, up from a comparable C$27 million loss a year earlier. Sales rose 11.7 percent to C$2.07 billion.

New York -- Saks Fifth Avenue Off 5th will open a store at Christiana Fashion Center in Christiana, Delaware, in October. The 32,000 –sq.-ft. store will be the off-price retailer’s first in the state of Delaware.