Hudson’s Bay Company (HBC) said it is pursuing strategic alternatives for the Lord + Taylor operating business, including a possible sale or merger.
Hudson’s Bay is closing its Home Outfitters business in Canada and is performing a review of Saks Off 5th’s 133 stores, with an estimate of closing up to 20 locations in the U.S.
Hudson’s Bay Co. has refuted recent reports it had signed a binding agreement to sell or combine its European business or properties but acknowledged that it is in discussions with Signa Holding GmbH exploring a potential joint venture and has signed a non-binding letter of intent with that firm.
Following its pending sale of Gilt to Rue La La, Hudson’s Bay revealed a bigger net loss and lower overall comps in the first quarter.
Hudson’s Bay has named Stephen Gold as chief technology and digital operations officer, effective immediately.
Hudson’s Bay has appointed Vanessa LeFebvre as president of Lord & Taylor.
Hudson’s Bay Company has appointed Bari Harlam as chief marketing officer, effective immediately.
Hudson’s Bay said it has become aware of a data security issue involving customer payment card data at certain Saks Fifth Avenue, Saks Off 5th, and Lord & Taylor stores in North America.
With a new CEO at the helm, Hudson’s Bay’s turnaround strategies helped it improve results and post a profit in the fourth quarter, but sales continued to decline.
Hudson’s Bay Company and Rhône Capital have completed a previously announced $500 million equity investment by an affiliate of Rhône Capital as part of a global, multi-faceted strategic relationship with Rhône and WeWork Companies.
Hudson’s Bay Co. insisted that it has strong shareholder support for a Rhône Capital’s equity investment of $500 million in the form of eight-year mandatory convertible preferred shares.