Content about Hudson's Bay Company

July 28, 2014

HBC Department Store Group is deploying the Swirl in-store beacon marketing platform to deliver digital experiences to consumers' smartphones while they shop in the company's department stores in Canada and the U.S.

Toronto - HBC Department Store Group is deploying the Swirl in-store beacon marketing platform to deliver digital experiences to consumers' smartphones while they shop in the company's department stores in Canada and the U.S. Using beacons installed in merchandising areas throughout its stores, Hudson's Bay and Lord & Taylor will automatically deliver branded content and personalized offers to in-store shoppers through an array of company-owned and third-party mobile apps.

June 3, 2014

Hudson's Bay Co. (HBC) swung to a profit in its first quarter, boosted by strong sales at Saks Inc., which it acquired last year.

Toronto -- Hudson's Bay Co. (HBC) swung to a profit in its first quarter, boosted by strong sales at Saks Inc., which it acquired last year. Hudson's Bay has announced plans to bring Saks to Canada, starting with two locations in Toronto in 2015.

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.”

February 7, 2014

Hudson’s Bay and Lord & Taylor are offering True Fit’s fit personalization technology to consumers at TheBay.com and LordandTaylor.com.

Toronto -- Hudson’s Bay and Lord & Taylor are offering True Fit’s fit personalization technology to consumers at TheBay.com and LordandTaylor.com. In less than 60 seconds, consumers can create a True Fit profile at either site, enabling them to get a personal fit rating and size recommendation for every style.

January 23, 2014

The HBC Department Store Group announced the launch of a new mobile shopping application for both its Hudson’s Bay and Lord & Taylor divisions that allows customers to instantly buy products seen in print by simply scanning an image.

Toronto -- The HBC Department Store Group announced the launch of a new mobile shopping application for both its Hudson’s Bay and Lord & Taylor divisions that allows customers to instantly buy products seen in print by simply scanning an image.

HBC is partnering with Pounce, a mobile app that turns static print ads into instant digital storefronts by enabling customers to scan product images and complete a purchase in less than 30 seconds. It provides a secure, one-tap checkout, integrating with the retailer’s existing e-commerce system

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.

November 4, 2013

Canada’s Hudson's Bay Co. said that it has completed its $2.4 billion acquisition of Saks Inc.

Toronto -- Canada’s Hudson's Bay Co. said Monday that it has completed its $2.4 billion acquisition of Saks Inc. Saks shareholders overwhelmingly approved the sale of the New York company during a special meeting on Wednesday. The combined company will operate a total of 320 stores, including 179 full-line specialty department stores, 72 outlet stores and 69 home stores in prime locations throughout the U.S., and Canada, along with three e-commerce sites.

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 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.

October 3, 2013

Despite the digitization of most customer-facing communication, printed flyers are still an important promotional vehicle for many retailers. By analyzing terabytes of offer-, store- and item-level sales data for products promoted in its weekly flyers, Hudson’s Bay Company (HBC) is determining the true incremental return on printed promotions and optimizing the efficiency and effectiveness of its flyer-based marketing efforts for its Hudson’s Bay stores.

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 16, 2013

Saks Inc. announced that its chairman and CEO, Stephen I. Sadove, along with the company’s president and chief merchant, Ronald L. Frasch, plan to leave the company following the closing of its acquisition by Canadian retailer Hudson's Bay Co.

New York -- Saks Inc. announced that its chairman and CEO, Stephen I. Sadove, along with the company’s president and chief merchant, Ronald L. Frasch, plan to leave the company following the closing of its acquisition by Canadian retailer Hudson's Bay Co.

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 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 18, 2013

Hudson's Bay Co. said it has changed the structure of its senior management, giving two highly regarded veteran retailers greater responsibilities.

Toronto -- Hudson's Bay Co. said Tuesday it has changed the structure of its senior management, giving two highly regarded veteran retailers greater responsibilities. The company is moving current president Bonnie Brooks to the vice chairman seat and putting in Liz Rodbell – recently minted executive VP and chief merchant – as president.  Both Brooks and Rodbell are highly regarded retail

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.

March 26, 2013

Kleinfeld Bridal, the iconic New York bridal retailer and star of the hit reality show “Say Yes to the Dress,” will open a 20,000-sq.-ft. salon in Hudson’s Bay’s flagship location in downtown Toronto in early 2014.

New York -- Kleinfeld Bridal, the iconic New York bridal retailer and star of the hit reality show “Say Yes to the Dress,” will open a 20,000-sq.-ft. salon in Hudson’s Bay’s flagship location in downtown Toronto in early 2014. The Hudson’s Bay Company has exclusive rights to the brand in Canada.

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.

November 27, 2012

Target will sponsor a tour across Canada that will visit more than 20 communities ahead of the planned opening of its stores in the country, the retailer said Tuesday.

Mississauga, Ontario -- Target will sponsor a tour across Canada that will visit more than 20 communities ahead of the planned opening of its stores in the country, the retailer said Tuesday.

The tour will start in Halifax, Nova Scotia, and conclude in British Columbia in the middle of December. Target plans to open 124 stores in Canada starting in March and April 2013.

November 20, 2012

Canada's Hudson's Bay Co. is set to raise C$365 million ($367 million) in its initial public stock offering, Reuters reported.

Toronto -- Canada's Hudson's Bay Co. is set to raise C$365 million ($367 million) in its initial public stock offering, Reuters reported. The amount is lower than the retailer’s original target of about C$400 million.

Hudson’s Bay has priced the offering of 21.48 million shares at C$17 apiece, which is at the bottom of the company's already lowered range of C$17 to C$18.

October 18, 2012

Hudson's Bay Co. announced that it has filed a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of common shares.

New York -- Hudson's Bay Co. announced that it has filed a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of common shares. The company, which has been owned by NRDC Equity Partners since 2008, operates U.S. department store chain Lord & Taylor, along with The Bay and Home Outfitters chains in Canada.