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Saks bought by Hudson's Bay Company, Canada

post #1 of 5
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.
It will also introduce Saks Fifth Avenue stores, Off Fifth outlets and the Saks Web site into Canada.
post #2 of 5

Hudson's Bay carries a lot of poor quality clothing IME.


Hopefully they'll introduce Ralph Lauren's nicer lines in Canada.

post #3 of 5

Department store retail is a very difficult business (I would never buy a dept store stock as part of retirement planning) . All the big department store names have changed hands one time or another merely within the past decade (Barneys, Harrods, regionals such as Robinson, Hudson's) this purchase is no prize. From a business perspective, it's a complimentary purchase giving Hudson's Bay Co a luxury line and discount line Off Saks. Hudson's Bay and Lord & Taylor are mid-price whilst Home Outfitters is the home products.


Saks recognises its mission a a luxury retailer and will likely remain so.  I don't envision any overlap or synergy savings for the company.

post #4 of 5
Thread Starter 

A New Yorker article on the sale of Saks: http://www.newyorker.com/online/blogs/newsdesk/2013/07/the-end-of-saks-fifth-avenue-as-we-knew-it.html


By opening so many off-price outlets, Saks and other high-end chains are themselves encouraging shoppers not to pay full price. Saks and Nordstrom now have more outlet locations than they have regular stores. At the Saks annual shareholder meeting in June, the C.E.O., Stephen Sadove, told investors that the retailer has closed twelve Saks stores in the past three years, and that the company will drop to forty locations (from a peak of more than sixty) by the beginning of next year. Meanwhile, the company is opening six or seven Off 5th outlets a year, and it plans to launch Off5th.com this fall.
post #5 of 5

I'm afraid with HBC's track record, they'll run Saks into the ground. I wouldn't be surprised if the name has been devalued to nothing but a regular chain store in a few years.

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