Hudson's Bay/Lord & Taylor Aquires Saks

    Hudson's Bay/Lord & Taylor Aquires Saks

    post #1 of 6
    Thread Starter 
    Saks Inc. agreed on Monday to sell itself to the Hudson’s Bay Company for about $2.4 billion in cash, uniting the storied luxury retailer with Lord & Taylor and the Canadian chain Hudson’s Bay.

    The deal will create an even bigger player in the world of retail, with the combined company running 320 locations in total, 179 of which are full department stores. The merged retailer would have reported revenue of about $7 billion in the 2012 fiscal year.

    Among the attractions of the deal are cost savings, with the Hudson’s Bay Company expecting to reap about $97.3 million within the next three years. It will also introduce Saks Fifth Avenue stores, Off Fifth outlets and the Saks Web site into Canada.

    http://dealbook.nytimes.com/2013/07/29/saks-to-sell-itself-to-owner-of-lord-taylor/?_r=0
    post #2 of 6
    Thanks for the heads up. That is good news for the Canadian Basenoters. More places to sample great frags.
    post #3 of 6

    Hopefully they will start bringing in more niche brands into their Bay stores now...

    post #4 of 6
    Good news for our friends up north.
    post #5 of 6

    Excellent news for Americans. Perhaps they will now have direct access to the products of Hudson's Bay.

    post #6 of 6

    Yeah!!!!!!!

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    7/29/13 at 7:08am

    dampier said:



    Saks Inc. agreed on Monday to sell itself to the Hudson’s Bay Company for about $2.4 billion in cash, uniting the storied luxury retailer with Lord & Taylor and the Canadian chain Hudson’s Bay.

    The deal will create an even bigger player in the world of retail, with the combined company running 320 locations in total, 179 of which are full department stores. The merged retailer would have reported revenue of about $7 billion in the 2012 fiscal year.

    Among the attractions of the deal are cost savings, with the Hudson’s Bay Company expecting to reap about $97.3 million within the next three years. It will also introduce Saks Fifth Avenue stores, Off Fifth outlets and the Saks Web site into Canada.

    http://dealbook.nytimes.com/2013/07/29/saks-to-sell-itself-to-owner-of-lord-taylor/?_r=0

    7/29/13 at 7:14am

    williampaul1969 said:



    Thanks for the heads up. That is good news for the Canadian Basenoters. More places to sample great frags.

    7/29/13 at 7:19am

    badarun said:



    Hopefully they will start bringing in more niche brands into their Bay stores now...

    7/29/13 at 1:07pm

    hednic said:



    Good news for our friends up north.

    7/29/13 at 9:35pm

    itde said:



    Excellent news for Americans. Perhaps they will now have direct access to the products of Hudson's Bay.

    7/30/13 at 1:43am

    trex57 said:



    Yeah!!!!!!!





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