News

New York – The proposed acquisition of Saks by Hudson’s Bay Company is spurring investigations by at least three law firms. Law firms Harwood Feffer LLP, Robbins Arroyo LLP and Kahn, Swick and Foti LLP are all investigating concerns such as whether the Saks board of directors is fulfilling its fiduciary duties, maximizing the value of the company, disclosing all material benefits and costs, and obtaining full and fair consideration for shareholders.

BURLINGTON, Mass. — 89 Degrees, a customer engagement agency that leverages data and analytically driven strategy for maximum ROI, has named Rosie Poultney VP, analytics.

“Rosie is a key hire in our evolution as a customer engagement agency, linking digital technology and analytics to drive omnichannel marketing in powerful new ways,” said Phil Hussey, president of 89 Degrees. “Adding Bill Pena recently as VP of technology services was another major step in this direction, as we bring world class talent to our technology solutions.”

NEW YORK — Hudson’s Bay Company has reached a deal to buy Saks Inc. in a deal that is expected to bring the luxury department store company to Canada. The Canadian retail conglomerate, which which operates Lord & Taylor in the United States and Hudson Bay in Canada, will purchase Saks for a total of about $2.9 billion. Purchase price includes $16 per share of Saks as well as the assumption of Saks’ debt.

Armonk, N.Y. -- Online consumer spending rose a healthy 15% in the second quarter of this year compared to the second quarter of last year. The IBM Online Retail Sales Index shows that mobile sales reached 19.4% of total online sales, up 28% from last year. Online shopping growth substantially outpaced the 4.6% year-over-year increase of in-store sales during the second quarter.

The nation’s largest egg producer, Cal-Maine Foods, said it sold 243.3 million dozen eggs in its fourth quarter ended June 1, and moved closer to surpassing the 1 billion dozen threshold for the full fiscal year.

The 243.3 million dozen eggs sold in the fourth quarter was an increase of 6.3% from 228.8 million dozen sold in the fourth quarter the prior year. The full year total of 948.5 million dozen was a 7.3% increase from 884.3 million dozen the prior year.

LOS ALTOS, Calif. — Catalog Spree, a personal digital mall that lets consumers browse and shop their favorite catalogs, has launched exclusive lookbooks for Fab, "The World's Design Store." The digital mall will publish Fab lookbooks daily, which consumers can view on iPad and iPhone.

NEW YORK — Hudson’s Bay Company has reached a deal to buy Saks Inc. The Canadian retail conglomerate, which operates Lord & Taylor in the United States and Hudson Bay in Canada, will purchase Saks and its 41 stores for a total of about $2.9 billion. Purchase price includes $16 per share of Saks as well as the assumption of Saks’ debt.

DALLAS — Zale Corporation has promoted Bridgett Zeterberg to the position of SVP, general counsel and secretary. Zeterberg joined Zale in September 2010 and became general counsel and secretary in February 2012.

She is responsible for all legal, compliance and contractual matters, as well as corporate and board governance. She will continue to report to Theo Killion, CEO.