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Saks Fifth Avenue

  • Saks boosts profits at Hudson’s Bay Co. in Q3

    Higher same store sales and its purchase of Saks Inc. last year helped Hudson’s Bay Co. post a smaller quarterly loss in the third quarter.

    The company had a $13 million net loss and profits of $116 million, both improvements from the same time last year. Same-store sales rose 1.7% in the third quarter.

  • Hudson’s Bay launches credit card agreement with Capital One

    Toronto, Canada – Hudson’s Bay Company is launching a new credit card program with Capital One Financial Corp. that includes the Saks Fifth Avenue banner. The agreement is also planned to add the Lord & Taylor credit card program in June 2015, subject to certain closing conditions.  

  • Vera Bradly names industry veteran, former Saks exec as head of store development

    Fort Wayne, Ind. - Vera Bradley has hired industry veteran-and former Saks executive— Harry Cunningham as head of store development, effective December 8, 2014.

    Cunningham has nearly 25 years of experience in store design and visual  merchandising. He has been with Saks Fifth Avenue since 2006, most recently as senior VP of store planning, design and visual merchandising.

    Prior to that, he held various visual merchandising roles of increasing responsibility with Liz Claiborne, Saks Department Store Group and Dillard's.

  • Vera Bradley hires store design icon

    Vera Bradley has announced a new head of store development as it looks to reimagine Vera Bradley into a premium global lifestyle brand.

    Harry Cunningham, who has nearly 25 years of experience in store design and visual merchandising, has been with Saks Fifth Avenue since 2006 and most recently held the post of SVP of Store Planning, Design and Visual Merchandising. Prior to that, Cunningham held various visual merchandising roles at Liz Claiborne, Saks Department Store Group and Dillard's.

  • Saks creates holiday wonderland on Fifth Avenue

     

    New York — Saks Fifth Avenue flagship on Manhattan’s Fifth Avenue has unveiled its holiday windows along with a dramatic light display that encompasses the entire façade of the iconic buiding.  

  • HomeGoods joins Whole Foods in the Mayfair Collection

    Chicago - HSA Commercial Real Estate announced that the firm has executed a 22,454-sq.-ft. lease with HomeGoods for the second phase of The Mayfair Collection, which is now under construction in Wauwatosa (Milwaukee), Wisconsin. HomeGoods will occupy the northern end cap of a building to be anchored by a 45,150-sq.-ft. Whole Foods Market.  

  • Saks’ NYC flagship valued at $3.7 billion—more than Hudson’s paid for entire company

    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.

  • Hudson’s Bay takes out $1.25 billion mortgage on Saks store

    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.

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