Saks Completes Store Reopenings In Manhattan
As New York advances its emergence from COVID-19 shopping restrictions, Saks Fifth Avenue has reopened its Manhattan flagship store.
Saks
Updated: Williams Sonoma, Other Retailers Close Stores, Reduce Hours
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
HBC Appoints Thomas President Of Saks Off 5th
Hudson’s Bay Company has appointed Paige Thomas president of Saks Off 5th, effective immediately.
Hudson’s Bay Ups Offer To Go Private
Hudson’s Bay Company has entered into an amended arrangement with a group of existing shareholders under which the HBC common shares held by the company’s other shareholders will be acquired by HBC for $11.00 in cash per share.
Hudson’s Bay Postpones Shareholder Meeting
Hudson’s Bay Company has postponed its special meeting of shareholders, which was intended to vote on the company’s recent going private initiative.
HBC Department Stores Stumble In Q3 But Off-Price Gains
During the third quarter, Hudson’s Bay continued to reposition its department store business even as its off-price Saks Off 5th operation generated positive comps in a period when the company’s luxury customers were bargain shopping.
Hudson’s Bay Rejects Takeover Bid
The special committee of the board of directors of Hudson’s Bay Company has rejected a recent takeover offer from The Catalyst Capital Group.
Hudson’s Bay Company To Go Private
Hudson’s Bay Company has entered into a definitive agreement with a group of HBC shareholders to take the company private.
Hudson’s Bay Completes Sale Of European Retail Joint Venture
Hudson’s Bay has completed the sale of the company’s remaining stakes in its European real estate and retail joint ventures to its partner, Signa Retail, for a total consideration of approximately $1.5 billion.
Hudson’s Bay Sharpens Focus As Q2 Loss Grows
Hudson’s Bay put a positive spin on its second quarter, although its net loss increased, with the department store retailer highlighting the performance of Saks and Saks Off 5th as it works to improve business operations.
Hudson’s Bay Weighs Going Private Offer
A special committee of the board of directors of Hudson’s Bay Company has issued an update on its ongoing review of the June 10 proposal for the privatization of the company from a group of HBC shareholders, including HBC’s governor and executive chairman, at a price of $9.45 per share in cash.
Hudson’s Bay CFO Takes Medical Leave Of Absence
Hudson’s Bay said its chief financial officer, Ed Record, will be taking a medical leave of absence, effective June 17. In his absence, the company has appointed Becky Roof as interim CFO.
Hudson’s Bay Struggles Through Q1 Despite Saks Gains
Although Hudson’s Bay has taken a number of significant steps to right its financial course, including winding down its Home Outfitters chain and selling its German operation, the company still posted a bigger first quarter adjusted net loss. The bigger loss came despite improvement at its Saks department store and off-price operations.
Hudson’s Bay Exits Germany, Considers Acquisition Proposal
As the corporate board reviews a privatization bid, Hudson’s Bay entered into definitive agreements to sell its remaining stake in its German real estate joint venture and divest a related retail joint venture to its partner, Signa, for $1.5 billion.
Hudson’s Bay Posts Loss But Points To Improvement
In a fourth quarter when it continued to realign its business, Hudson’s Bay recorded a net loss but pointed to an overall improvement in its operations.
Hudson’s Bay To Close Home Outfitters Business, 20 Saks Off 5th Stores
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.
Saks Advances Fifth Avenue Store Renovation
Saks Fifth Avenue has advanced the grand renovation of its Fifth Avenue flagship store.
Hudson’s Bay Still In Turnaround Mode Through Q3
Hudson’s Bay said it was encouraged with its turnaround strategies through the third quarter, highlighted by a strong comp increase at its Saks Fifth Avenue division.
Loss In Q2 Drives Hudson’s Bay To Action
As Hudson’s Bay released its second quarter results including a company-wide 0.4% decrease in comparable sales and a larger loss, the department store retailer said it is forming a strategic partnership for its European business.
Hudson’s Bay In Talks With Signa On European Joint Venture
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.