Content about Hudson’s Bay Co.

September 15, 2014

So far, the November 2013 purchase of Saks Fifth Avenue by Hudson’s Bay Company (HBC) is paying dividends.

Toronto – So far, the November 2013 purchase of Saks Fifth Avenue by Hudson’s Bay Company (HBC) is paying dividends. HBC reported strong results during the second quarter of fiscal 2014, including a shrinking of its net loss from $81 million in the second quarter of the prior fiscal year to $36 million.

Primarily due to the addition of Saks revenue, total sales climbed 87% to $1.77 billion from $948 million. Consolidated same-store sales grew 1.9%. Digital sales were $162 million, including $116 million from Saks.

August 26, 2014

Hudson’s Bay Company has appointed John Caplice to the position of senior VP treasury and investor relations, effective Sept. 2.

Toronto - Hudson’s Bay Company has appointed John Caplice to the position of senior VP treasury and investor relations, effective Sept. 2. He most recently served as senior VP treasurer & investor relations at Shoppers Drug Mart Corp. from 2000-2014.

While at Shoppers Drug Mart, Caplice was responsible for treasury and compliance activities, as well as developing and implementing communication strategies.

Caplice will be based in Toronto and will report to Paul Beesley, CFO, Hudson’s Bay Company.   

May 7, 2014

Hudson’s Bay Company named Paul V. Beesley as CFO, effective in June.

Toronto -- Hudson’s Bay Company named Paul V. Beesley as CFO, effective in June.

Beesley is a senior executive with extensive experience in financial management and strategic development across a range of leading Canadian-based companies. From 2000 to 2014, he served in a number of executive roles with Empire Company Limited, a corporation with annual sales in excess of $19 billion and operations in retailing and related real estate, including chief corporate development officer of the Sobeys unit and executive VP and CFO of Empire.

April 4, 2014

Hudson’s Bay Company’s net profit for the fourth quarter fell to $29.1 million from $86.8 million in the year ago period, amid higher expenses.

Toronto -- Hudson’s Bay Company’s net profit for the fourth quarter fell to $29.1 million from $86.8 million in the year ago period, amid higher expenses.

The company’s sales for the quarter, ended Feb.1, rose 74% to $2.41 billion, largely driven by the inclusion of Saks, which it acquired in November 2013. Same-store sales rose 6.6%, with an increase of 5.2% at its namesake stores, a 3.1% increase at Saks, and a decline of 1.3% at Lord & Taylor.

February 10, 2014

Michael Culhane, CFO of Hudson’s Bay Company, has resigned following a leave of absence from the company.

Toronto -- Michael Culhane, CFO of Hudson’s Bay Company, has resigned following a leave of absence from the company.  

Culhane went on personal leave on January 22, at which time COO and president Donald Watros was appointed acting CFO. He will continue in that role until a permanent replacement is named.

“This is the ideal time for me to leave HBC as the company is well positioned for the future,” said Culhane. “I wish all of HBC’s associates and business partners continued success.”

December 19, 2013

Saks Fifth Avenue, a subsidiary of Hudson’s Bay Company, announced the appointment of former Harrods executive Mark Briggs as chief marketing officer for Saks, effective March 2014.

New York -- Saks Fifth Avenue, a subsidiary of Hudson’s Bay Company, announced the appointment of former Harrods executive Mark Briggs as chief marketing officer for Saks, effective March 2014. He will report to new president Marigay McKee, another former Harrods executive.

Briggs was director of store image at Harrods for 20 years and was a close colleague of McKee.

November 14, 2013

To help increase profitability, Hudson’s Bay Company (HBC) launched a promotion optimization initiative in Canada to improve the ROI of its flyers, or newspaper ads.

Toronto -- To help increase profitability, Hudson’s Bay Company (HBC) launched a promotion optimization initiative in Canada to improve the ROI of its flyers, or newspaper ads. HBC worked with Saferock to develop the solution, which uses sophisticated analytics to analyze millions of records each week.

October 28, 2013

Hudson’s Bay Company has appointed Michael Crotty as executive VP, chief marketing officer, Hudson’s Bay and Lord & Taylor.

Toronto -- Hudson’s Bay Company has appointed Michael Crotty as executive VP, chief marketing officer, Hudson’s Bay and Lord & Taylor. He will be responsible for the overall marketing strategy for Hudson’s Bay and Lord & Taylor.

Crotty has more than 25 years multichannel retailing and brand management marketing experience  For the last 10 years, he has held progressively senior positions at Bergdorf Goodman, Neiman Marcus and, most recently, Nordstrom.

October 22, 2013

Saks Inc. has settled lawsuits from investors related to its proposed buyout by Hudson’s Bay Company (HBC).

New York – Saks Inc. has settled lawsuits from investors related to its proposed buyout by Hudson’s Bay Company (HBC). According to Bloomberg, Saks has reached an agreement that reduces the termination fee it would pay HBC in the event the purchase does not happen and reduces the time Saks has to seek alternative offers

October 11, 2013

Lord & Taylor, a division of Hudson’s Bay Company, has opened a store at Mizner Park, an open-air, mixed-use center in downtown Boca Raton, Fla.

New York -- Lord & Taylor, a division of Hudson’s Bay Company, has opened a store at Mizner Park, an open-air, mixed-use center in downtown Boca Raton, Fla. The two-level, 80,000-sq.-ft. store store marks the retailer’s return to the Sunshine State.

The new store features the company’s latest store design, which emulates a classic style but with a new, updated twist. A sense of glamour permeates the space, seen in such details as chandeliers imported from Italy and 300 mannequins that showcase strong fashion statements.

October 4, 2013

Neiman-Marcus Group Inc. and Hudson’s Bay Company (HBC) are reportedly seeking loans to support merger and acquisition activity.

Dallas – Neiman-Marcus Group Inc. and Hudson’s Bay Company (HBC) are reportedly seeking loans to support merger and acquisition activity.

According to Bloomberg, Neiman-Marcus is trying to secure $3.75 billion in loans to support its planned buyout by Ares Management LLC and the Canada Pension Plan Investment Board. That figure reportedly includes a $2.95 billion term loan and an $800 million asset-backed loan.

September 17, 2013

Hudson’s Bay Co. (HBC) has appointed Marigay McKee, chief merchant of Harrods, as the future president of Saks Fifth Avenue.

Toronto -- Hudson’s Bay Co. (HBC) has appointed Marigay McKee, chief merchant of Harrods, as the future president of Saks Fifth Avenue. The appointment follows the news that Saks chairman and CEO Stephen Sadove and president and chief merchant Ronald Frasch will leave the company once it is acquired by Hudson's Bay.

September 13, 2013

Hudson’s Bay Company (HBC) reported net earnings of $3.9 million in the second quarter of fiscal 2013, compared to a net loss of $2 million in the second quarter of the previous fiscal year.

Toronto – Hudson’s Bay Company (HBC) reported net earnings of $3.9 million in the second quarter of fiscal 2013, compared to a net loss of $2 million in the second quarter of the previous fiscal year.

In addition, HBC reported consolidated sales of $947.7 million, up 3.9% from $911.9 million. The retailer credited consolidated same-store sales growth of 3.5% and e-commerce sales growth of 56.1% to $37.3 million as helping to drive its healthy overall performance.

September 11, 2013

The planned merger between Saks Inc. and Hudson’s Bay Company (HBC) took another step forward with the expiration of the 40-day “go shop” period for Saks on Sept. 6.

New York -- The planned merger between Saks Inc. and Hudson’s Bay Company (HBC) took another step forward with the expiration of the 40-day “go shop” period for Saks on Sept. 6. As previously disclosed, the merger agreement entered into on July 28, 2013 between Saks and HBC contained a 40-day “go-shop” period during which Saks was permitted to solicit alternative proposals from third parties.

July 30, 2013

The proposed acquisition of Saks by Hudson’s Bay Company is spurring investigations by at least three law firms.

New York – The proposed acquisition of Saks by Hudson’s Bay Company is spurring investigations by at least three law firms. Law firms Harwood Feffer LLP, Robbins Arroyo LLP and Kahn, Swick and Foti LLP are all investigating concerns such as whether the Saks board of directors is fulfilling its fiduciary duties, maximizing the value of the company, disclosing all material benefits and costs, and obtaining full and fair consideration for shareholders.

July 29, 2013

Hudson’s Bay Company has reached a deal to buy Saks Inc., in a deal that is expected to bring the luxury department store company to Canada.

NEW YORK — Hudson’s Bay Company has reached a deal to buy Saks Inc., in a deal that is expected to bring the luxury department store company to Canada. The Canadian retail conglomerate, which which operates Lord & Taylor in the United States and Hudson Bay in Canada, will purchase Saks for a total of about $2.9 billion. Purchase price includes $16 per share of Saks as well as the assumption of Saks’ debt.

June 12, 2013

Hudson’s Bay Company (HBC) had an overall successful first quarter of fiscal 2013 despite some sluggish performance at its Lord & Taylor banner.

Toronto -- Hudson’s Bay Company (HBC) had an overall successful first quarter of fiscal 2013 despite some sluggish performance at its Lord & Taylor banner.

The company reported gross profit of $356 million for the quarter ended May 4, up 4% from $341 million a year earlier. Retail sales also grew 4%, from $848 million to $884 million. Consolidated same-store sales increased 4% as well.

January 31, 2013

Hudson’s Bay Co. said it has introduced a new three-tiered rewards program, partnering with Capital One Canada to boost the rate at which HBC shoppers earn reward points for shopping at Hudson's Bay, Thebay.com or Home Outfitters.

Toronto -- Hudson’s Bay Co. said Thursday it has introduced a new three-tiered rewards program, partnering with Capital One Canada to boost the rate at which HBC shoppers earn reward points for shopping at Hudson's Bay, Thebay.com or Home Outfitters.

Hudson's Bay Rewards members will now earn one point for every dollar they spend on almost anything in store or online and, as they move up the tier levels, they earn more points per spend.

September 5, 2012

Hudson’s Bay Co., owner of the Lord & Taylor and The Bay chains, plans to file for an initial public offering, according to The New York Times.

New York -- Hudson’s Bay Co., owner of the Lord & Taylor and The Bay chains, plans to file for an initial public offering, according to The New York Times.

A listing, which is expected to be on the Toronto Stock Exchange, could come this fall, before the end of November, the report said, with as much as 20% of the company being sold to the public.
 

January 23, 2012

Hudson’s Bay Co. has completed the acquisition of Lord & Taylor, according to a report by Women’s Wear Daily.

New York City -- Hudson’s Bay Co. has completed the acquisition of Lord & Taylor, according to a report by Women’s Wear Daily.

The report said that HBC owner Richard Baker has dissolved the umbrella company that had until now held the two chains, and that HBC would now operate The Bay and Lord & Taylor. The new entity will be run by Bay CEO Bonnie Brooks, according to the report.

May 2, 2011

Hudson’s Bay Co. will test its HBC’s Home Outfitters concept in the United States, opening two stores in New Jersey in late summer, The Globe and Mail reported.

New York City -- Hudson’s Bay Co. will test its HBC’s Home Outfitters concept in the United States, opening two stores in New Jersey in late summer, The Globe and Mail reported.

If successful, the company will further expand the home-goods concept, which will be called Lord & Taylor Home in the United States. (Hudson’s Bay and Lord & Taylor are owned by Purchase, N.Y.-based NRDC Equity Partners.)

July 15, 2008

NRDC Equity Partners announced on Wednesday that it has acquired Toronto-based Hudson’s Bay Co. NRDC...

July 10, 2008

NRDC Equity Partners, owner of Lord & Taylor and Fortunoff, is pursuing Hudson’s Bay Co....

October 27, 2005

Toronto, Hudson’s Bay...

October 27, 2005

Toronto, Hudson’s Bay...