-
Hudson’s Bay goes global, will buy German department store chain from Metro
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.
-
Ollie’s eyes IPO and 950 stores
Off-price retailer Ollie’s quietly doubled in size the past few years and now the company plans to go public, accelerating growth of no-frills stores it affectionately refers to as “semi-lovely” warehouses.
Ollie’s operates 181 stores in the Eastern U.S. that last year generated annual sales $638 million and net income of $26.9 million.