Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Report: Hudson’s Bay is set to acquire U.S. high-end retailer Saks
TORONTO – A report says Canadian retailer Hudson’s Bay Co. (TSX:HBC) is very close to acquiring U.S. luxury retailer Saks Inc.
The Wall Street Journal reports the companies could announce the deal as early as today.
HBC has been eyeing the struggling high-end American chain for the past few months.
Saks operates 42 stores, including its flagship Saks Fifth Avenue in New York.
HBC operates 90 The Bay department stores and 69 Home Outfitters housewares stores across Canada.
Founded in 1670, HBC went public in November.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
