Hudson's Bay Company

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Analysts mixed on Hudson's Bay's bid for Saks

Katie Smith | 30 Jul 2013

Canadian department store retailer Hudson's Bay yesterday (29 July) submitted a bid for luxury US based retailer Saks after months of speculation. But analysts are taking a mixed view of the US$2.9bn deal, with one saying it "undervalues" the shares while another describing it as a "compelling" offer.


Target makes up for lost time with Canadian move

Leonie Barrie | 14 Jan 2011

Having been criticised for being slow to cash in on the potential of international expansion, US discount retailer Target Corp is now making up for lost time with a CAD1.825bn (US$1.83bn) swoop on Canadian discount chain Zellers.

Latest News

Hudson's Bay eyes Europe growth with Kaufhof deal

Michelle Russell | 15 Jun 2015

Canadian retail group Hudson's Bay (HBC) has acquired the Galeria Kaufhof department store chain from German retail conglomerate Metro Group in a move that will allow it to expand its presence in Europe.


Hudson's Bay triples Q4 profit

Katie Smith | 7 Apr 2015

Canadian department store operator Hudson's Bay more than tripled its fourth-quarter net profit, driven by a surge in digital sales and further progress with the integration of luxury retailer Saks.


Hudson's Bay appoints Storch to CEO role

Michelle Russell | 18 Dec 2014

Canadian department store operator Hudson's Bay Company has appointed retail veteran Gerald Storch as chief executive.


Hudson's Bay narrows Q3 losses

Michelle Russell | 9 Dec 2014

Canadian department store operator Hudson's Bay Company has narrowed its net loss in the third quarter and reaffirmed its guidance for the full year.


Hudson's Bay outlines refinancing for Saks store

Michelle Russell | 25 Nov 2014

Canadian department store operator Hudson's Bay Company has outlined a US$1.25bn refinancing plan that will allow it to improve and renovate its Saks flagship store.


Hudson's Bay narrows Q2 loss on sales surge

Katie Smith | 12 Sep 2014

Canadian department store operator Hudson's Bay Company has more than halved its losses during the second quarter, thanks to a near-doubling of sales.


Hudson's Bay swings to Q1 profit

Michelle Russell | 3 Jun 2014

Canadian department store operator Hudson's Bay Company swung to a profit in its first-quarter after its acquisition of Saks last year more than doubled retail sales.


Beesley named Hudson's Bay CFO

Katie Smith | 7 May 2014

Canadian department store retailer Hudson's Bay Company has appointed Paul Beesley as its new chief financial officer.


Higher costs hit Hudson's Bay Q4 performance

Katie Smith | 4 Apr 2014

Higher costs related to its CAD2.9bn (US$2.63bn) acquisition of luxury retailer Saks resulted in a 67% decline in fourth-quarter profit for Canadian department store operator Hudson's Bay Company.


Burgess to lead Hudson's Bay digital division

Katie Smith | 30 Jan 2014

Canadian department store retailer Hudson's Bay Company has created a new digital division, which will be led by Michael Burgess.


Hudson's Bay to debut Saks in Canada

Katie Smith | 28 Jan 2014

Department store retailer Hudson's Bay Company is to open its first two Saks stores in Canada, as part of a sale and leaseback deal with Cadillac Fairview.


Hudson's Bay CFO takes leave of absence

Katie Smith | 24 Jan 2014

Hudson's Bay Company CFO Michael Culhane has taken a leave of absence, with COO Donald Watros assuming the additional role of acting CFO with immediate effect.


Saks GM manager Boitano to step down

Michelle Russell | 20 Jan 2014

US-based luxury retailer Saks Fifth Avenue has confirmed its general merchandise manager, Joseph Boitano, is to step down.


Hudson's Bay promotes Greller to head up outlets

Michelle Russell | 9 Jan 2014

Canadian department store operator Hudson's Bay Company has appointed Jonathan Greller to head up its outlet stores.


Canadian groups call on retailers to sign Accord

Michelle Russell | 18 Dec 2013

Twenty-five Canadian organisations have called on the country's retailers and brands to sign the Bangladesh Accord on Fire and Building Safety.


Hudson's Bay promotes Watros to president role

Michelle Russell | 17 Dec 2013

Canadian department store operator Hudson's Bay Company has promoted its COO, Donald Watros, to the newly-expanded role of president.


Hudson's Bay Q3 net loss widens

Michelle Russell | 11 Dec 2013

Canadian department store operator Hudson's Bay Company saw its net losses widen in the third quarter, hurt by costs related to its purchase of Saks.


Hudson's Bay makes raft of executive promotions

Michelle Russell | 18 Nov 2013

Canadian department store retailer Hudson's Bay has promoted a number of people to senior positions within the company as it shores up its new executive team.


Hudson's Bay closes Saks acquisition

Katie Smith | 5 Nov 2013

Canadian department store operator Hudson's Bay Company has completed its US$2.9bn acquisition of US-based luxury retailer Saks.


Saks shareholders approve Hudson's Bay merger

Katie Smith | 31 Oct 2013

Saks shareholders have approved its merger with Canadian department store retailer Hudson's Bay Company, in a move that creates a leading upscale North American fashion retail business.


Hudson's Bay names Hardin creative officer

Katie Smith | 28 Oct 2013

Canadian department store operator Hudson's Bay Company has appointed Russ Hardin as its new chief creative officer and senior vice president.


Scope of factory safety audits needs clarification

Leonie Barrie | 11 Oct 2013

The group representing more than 90 fashion retailers and brands working to improve fire and building safety in Bangladesh's garment industry has admitted that a fatal fire in a fabric mill earlier this week shows there is "still a long way to go" to achieving this goal.


Bangladesh factory fire underpins new safety calls

Leonie Barrie | 10 Oct 2013

The death of at least nine workers in a fire at a fabric mill in Bangladesh earlier this week has led to renewed calls for efforts to ensure safe conditions in the country's garment sector - as well as questions on the extent to which audits need to be carried out further down the supply chain.


Fire kills workers at Bangladesh fabric facility

Leonie Barrie | 9 Oct 2013

The safety of Bangladesh's textile and garment industry has been called into question again today (9 October) after at least seven people were killed in a fire at a fabric factory at Sreepur in the district of Gazipur, around 40km north of Dhaka.


Saks CEO Sadove to join JC Penney board

Katie Smith | 9 Oct 2013

Saks chairman and CEO Stephen Sadove, who is set to leave the department store operator following its merger with the Hudson's Bay Company, has been lined up to join the board of JC Penney.


Hudson's Bay planning Saks expansion?

Katie Smith | 26 Sep 2013

Canadian department store operator Hudson's Bay Company is reportedly planning to capitalise on its acquisition of luxury retailer Saks by potentially opening stores in Europe and Asia.

Latest blogs

Fabric mill fire fuels puts new spotlight on safety

Leonie Barrie | 14 Oct 2013

The safety of Bangladesh's textile and garment industry has been called into question again after at least seven people were killed last week in a fire at a fabric mill. More than 50 people were also injured in the blaze at Aswad Composite Mills Limited, part of the Palmal Group.


Hudson's Bay heads upscale with Saks

Leonie Barrie | 5 Aug 2013

A $2.9bn deal that brings together the Hudson's Bay, Lord & Taylor and Saks Fifth Avenue brands into a combined company with 320 stores in the US and Canada was finally confirmed last week after months of speculation.

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