HBC L.P., the parent company of Saks Fifth Avenue, has appointed Michael Culhane as chief financial officer of HBC. Culhane brings more than 30 years of finance and accounting experience primarily in the retail sector. Most recently, Culhane served as chief financial officer at ULINE, Inc., a privately-held shipping and industrial supplies...
14 Aug 2020
New York – HBC (TSX: HBC) announced Monday they have appointed Paige Thomas as President of Saks Off 5TH, effective immediately. “Paige has a proven track record of achieving aggressive growth within off-price retail through superior cross-channel customer experiences,” said in the corporate announcement Helena Foulkes, CEO at HBC, owner of Saks...
11 Feb 2020
Hudson’s Bay has appointed Iain Nairn as President, effective January 12th, 2020. The company said in a statement that a highly-accomplished retail executive, Nairn has a remarkable track record of driving profitable growth and transformational change at a wide variety of retailers, from specialty to department store formats. He reports directly...
14 Jan 2020
Hudson's Bay Company announced the return of its chief financial officer Ed Record. The company said in a statement that Record had been on medical leave and will resume his duties effective December 20. In Record's absence, Becky Roof has been in the position of interim chief executive officer. She is a managing director with AlixPartners LLC...
19 Dec 2019
Hudson’s Bay Company’s (HBC) third quarter comparable sales declined 1.7 percent. Third quarter revenues totalled 1.8 billion Canadian dollars, including 55 million Canadian dollars from liquidating stores at Saks Off 5th, Hudson’s Bay clearance centers, and HBC Netherlands. Digital sales increased 15 percent year-over year due to continued...
10 Dec 2019
After announcing plans to exit the Dutch market in September this year, Hudson’s Bay Netherlands has now requested a deferment of payment, reports RTL Z. According to the report, the Hudson’s Bay has announced that says “it can no longer meet the payment obligations due to the court decision and the periodic penalty payments that were imposed...
29 Nov 2019
Hudson’s Bay Company (HBC) has announced completion of the sale of Lord + Taylor to Le Tote, Inc., a fashion rental subscription service, for 99.5 million Canadian dollars (75 million dollars) in cash and a secured promissory note for 32.2 million Canadian dollars (25 million dollars) payable in cash after two years, subject to customary...
11 Nov 2019
After much speculation, Authentic Brands Group (ABG) announced on Thursday evening that it will acquire Barney’s New York. The global brand development company first placed a bid for the fashion company last week. ABG will acquire the Barneys New York label as well as its associated intellectual property, which includes Barneys, FiveSeventyFive,...
24 Oct 2019
Hudson’s Bay Company (HBC) has announced that, it has entered into a definitive arrangement agreement with a group of HBC shareholders backed by Executive Chairman Richard Baker, to take the Company private. The company said in a statement that the shareholder group, who collectively owns approximately 57 percent of the common shares, will be...
21 Oct 2019
New York – Hudson's Bay Company (HBAYF) has announced it has sold Lord & Taylor brand to Le Tote, Inc., a fashion rental subscription service, for 75 million dollars. The deal, originally expected to close at 100 million, signals a new era for the oldest US department store chain. "Since founding Le Tote, it's been our mission to push the...
30 Aug 2019
Vanessa LeFebvre announced last week that she is leaving her post within Lord & Taylor. The retail executive took over the role of president with the Hudson's Bay-owned retailer last May, following the departure of former president Liz Redbell. LeFebvre joined Lord & Taylor from Stitch Fix, where she served as vice president, women's buying....
17 Jun 2019
After shuttering Lord & Taylor, selling off Gilt, and working to keep Saks competitive in an increasingly crowded retail field with more luxury e-commerce players popping up, Hudson's Bay Co. is now considering going private. Richard Baker, the executive chairman of Saks, is now leading a bid to take the retail company private. Baker, along with...
10 Jun 2019
