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Thanks to Saks, HBC’s sales & profit soar in Q2
Hudson's Bay Company is reaping the rewards of its acquisition last year of Saks. The company’s retail sales soared 86.6% to $1.8 billion, from $948 million in the prior year.
Consolidated same-store sales increased by 1.9% on a local currency basis, with increases of 1.1% at HBC’s department store group (DSG), 2.2% at Saks Fifth Avenue and 14.9% at Off 5th. Digital commerce sales totaled $162 million, including $116 million from Saks and growth of 82.2% at DSG.
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IBM and Apple ready retail apps
IBM and Apple announced a strategic partnership earlier this year that promises to transform enterprise mobility through a new class of business apps. The companies plan to leverage their respective strengths in technology, business intelligence and user experience to create solutions that address some of the retail industry’s most pressing challenges. To better understand what that means, Retailing Today spoke with Jill Puleri, VP and global retail industry leader for IBM Global Business Services.