NEW YORK, United States — Saks Inc. says two of its top executives will leave the company once its sale to Hudson's Bay Co. is complete. The luxury retailer said in July that it would be acquired by Hudson's, the Canadian parent of retailer Lord & Taylor, for about $2.24 billion.
VANCOUVER, Canada — Hudson’s Bay Co. Chief Executive Officer Richard Baker says rising interest rates pose no hurdle to a potential spinoff of the retailer’s real estate, including its future Saks Inc. stores, because they hold so much value.
NEW YORK, United States — U.S. low-price retailer T.J. Maxx plans to open an online store this year, as does rival Saks Inc's Off Fifth outlets, making 2013 the year technology may have caught up with the speed of fashion.
NEW YORK, United States — Hudson's Bay Co, operator of Lord & Taylor and Canada's The Bay department stores, said on Monday that it would buy luxury retailer Saks Inc for $16 per share, or $2.9 billion in cash.
WASHINGTON DC, United States — Nearly 20 North American retailers including Wal-Mart Stores Inc and Gap Inc unveiled a 5-year safety plan for Bangladesh garment factories on Wednesday that would include inspecting every factory within a year.
TORONTO, Canada — Hudson’s Bay Co., the Canadian retailer that went public in November, is looking at creating a real estate investment trust. The company’s real estate is “advantageous” as HBC can use it for financing and to keep costs down, chief executive officer Richard Baker said in a phone interview from New York today.
VANCOUVER, Canada — Every two years that global extravaganza called the Olympic Games alternates between summer and winter sports. Next in line is Vancouver which will host the XXI Olympic Winter Games between 12-28 February 2010, costing the city in excess of $1.5 billion. Over the weekend, Tyler Brûlé reckoned in the Financial Times that Canada is wasting an opportunity to re-brand itself to the world, using the Olympics as a