Hudson’s Bay Co Executive Chairman Richard Baker said on Monday he had teamed up with other shareholders to offer to take the struggling Canadian department store operator private in a $1.3 billion cash deal.
Hudson’s Bay on Wednesday reported a quarterly profit that topped estimates, as sales at its Saks Fifth Avenue stores rose during the holiday season and the Canadian company benefited from an increase in online sales.
Hearst Magazines has named Nicolas Neubeck as its first creative director for its branded content studio, HearstMade, where he will be tasked with integrating advertising into the media company's content.
Saks Fifth Avenue owner Hudson’s Bay Co is in discussions with Austrian property and retail group Signa Holding GmbH about a joint venture for its German retail chain Kaufhof, two sources said on Monday.
Canada’s Hudson’s Bay Co. confirmed on Tuesday it would sell its unprofitable online banner Gilt and said it would close up to 10 Lord & Taylor stores, including its Manhattan flagship, as its quarterly loss widened.