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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.
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.
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.
Wayne Meichner, president and COO of Ralph Lauren Retail Group, is to leave the business after 12 years.
Canadian department store retailer Hudson's Bay Company has created a new digital division, which will be led by Michael Burgess.
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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