Tag Archives: Richard Baker

Home Helps as Hudson’s Bay Narrows Q2 Loss

Hudson’s Bay

TORONTO-Hudson’s Bay Co. reported a second-quarter net loss of C$36 million (about $33 million), compared to a second-quarter net loss of C$81 million (about $74 million) last year. The acquisition of Saks, which was closed in November 2013, helped Hudson’s Bay bottom line in the quarter, which ended on Aug. 2. With Saks in theMore »

Last updated: September 12, 2014

Saks Purchase Boosts Hudson’s Bay Q1

Hudson’s Bay

TORONTO-Fueled by its acquisition of Saks, Hudson’s Bay Co. posted net income of C$176 million (about $160.2 million) in its fiscal first quarter, compared to a net loss of C$82 million (about $80.4 million) in last year’s first quarter. The Saks acquisition, which closed last November, also drove Hudson’s Bay’s top line in the quarter,More »

Last updated: June 3, 2014

Beesley Named Hudson’s Bay CFO

Hudson’s Bay

TORONTO-Hudson’s Bay has appointed Paul Beesley its new chief financial officer, a post he will assume in June. Beesley will be responsible for the retail company’s financial affairs at that time and report to Hudson’s Bay’s Office of the Chairman, which consists of Richard Baker, governor and CEO, and President Donald Watros. Watros had beenMore »

Last updated: May 7, 2014

Hudson’s Bay Launches Digital Group

Michael Burgess

TORONTO-Hudson’s Bay Co. has created HBC Digital, a group responsible for digital commerce and marketing across the entire company. The retailer has named Michael Burgess, president of Saks Direct, as president of the new group. Burgess reports to the Hudson’s Bay Office of the Chairman. HBC Digital is responsible for the digital commerce and marketingMore »

Last updated: January 31, 2014

Hudson’s Bay Names Former Target CFO Scovanner to Head Finance

Hudson’s Bay

TORONTO-Doug Scovanner, a former executive with Target, has been named interim executive vice president of finance and accounting for Hudson’s Bay Co. Scovanner has assumed responsibility for the retail company’s financial planning, asset protection and accounting functions. Richard Baker, Hudson’s Bay governor and CEO, cited Scovanner’s “broad background” in finance, and added that Scovanner hasMore »

Last updated: January 27, 2014

Acquisition Costs Boost Hudson’s Bay Q3 Loss

Hudson's Bay

TORONTO-The costs related to the company’s acquisition of Saks Inc., which closed in November, flooded additional red ink onto Hudson’s Bay Co. bottom line in its fiscal third quarter ending on Nov. 2. The retailer’s net loss in the quarter totaled C$124.2 million (U.S.$ $119.2 million), compared to C$14.4 million (about the same in U.S.More »

Last updated: December 11, 2013

Harrods’ McKee to Become Saks President

Marigay McKee

TORONTO-Hudson’s Bay Co. has named Marigay McKee, chief merchant of U.K. department store Harrods, president of Saks Fifth Avenue, which Hudson’s Bay is in the process of acquiring. The appointment will take effect when Hudson’s Bay closes on its Saks acquisition, which is expected to take place at the end of the calendar year. TheMore »

Last updated: September 17, 2013

Hudson’s Bay Posts Q2 Loss on Costs for Acquisition of Saks; Sales Rise 3.9 Percent

Hudson's Bay

TORONTO-Expenses regarding the company’s pending acquisition of Saks put Hudson’s Bay’s bottom line in the red in its fiscal second quarter, to the tune of C$82.3 million (U.S.$79.6 million on the current exchange rate). Net sales totaled C$947.7 million (U.S.$916.3 million), an increase of 3.9 percent, in the quarter which ended on Aug. 3. TheMore »

Last updated: September 12, 2013