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Hudson’s Bay completes acquisition of Saks; NYC flagship to get major renovation
Toronto -- Canada’s Hudson's Bay Co. said Monday that it has completed its $2.4 billion acquisition of Saks Inc. Saks shareholders overwhelmingly approved the sale of the New York company during a special meeting on Wednesday. The combined company will operate a total of 320 stores, including 179 full-line specialty department stores, 72 outlet stores and 69 home stores in prime locations throughout the U.S., and Canada, along with three e-commerce sites.
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Saks to open Off 5th in metro Jackson, Miss.
New York -- Saks Fifth Avenue Off 5th plans to open a new store in Pearl, Miss., (metropolitan Jackson) on Nov. 14.
The 17,000-sq.-ft. store will be located in the Outlets of Mississippi in Rankin County, one of the fastest growing areas in the state. The outlet is developed by Spectrum Capital, an affiliate of the Yates Companies.
