Hudson’s Bay makes a play

The rumored combination of Saks and Neiman Marcus was just that…a rumor. It was laid to rest by the announcement this week that Canada’s Hudson Bay Company — already owners of Lord & Taylor — is acquiring Saks Fifth Avenue. My comment from RetailWire follows:

While the HBC deal represents some expansion opportunity for Saks “north of the border,” the bigger impact will be on the mix of Saks and L&T locations here in the U.S. HBC should have at least some ability to switch nameplates from Saks to L&T (or vice versa) depending on lease terms, store profitability and mall demographics. The back-of-the-house cost efficiencies ought to be a win for all three stores, too.


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