Tag Archives: Saks

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

Sadove Joins Traub to Launch Traub Accelerator

Stephen Sadove

NEW YORK-Marvin Traub Associates has named Stephen Sadove, former Saks chairman and CEO, to introduce the Traub Accelerator, a new division targeted to grow innovative technologies, concepts and platforms in the retail  and consumer industries. In his new role, Sadove will serve as co-founder and head of Traub Accelerator, and will act as advisor toMore »

Last updated: June 10, 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

Hudson’s Bay Q4 Net Falls 66.5 Percent

Hudson’s Bay

TORONTO-Increased costs, especially those stemming from its acquisition of Saks, hurt Hudson’s Bay Co.’s bottom line for both the fourth quarter and fiscal year. Net income for the quarter finished at C$29.1 million ($27.2 million, according to the average exchange rate for the quarter), down 66.5 percent from last year’s fourth quarter. The retailer postedMore »

Last updated: April 3, 2014

Sadove Named to J.C. Penney Board

Stephen Sadove

PLANO, Texas-Stephen Sadove, current chairman and CEO of Saks Inc., has been elected to the J.C. Penney board of directors. Sadove will be leaving his post with Saks when the retailer’s merger with Hudson’s Bay Co. is finalized, at which time he will begin his role on the J.C. Penney board. He joined Saks asMore »

Last updated: October 9, 2013

Sadove, Frasch to Exit Saks After Hudson’s Bay Merger

Stephen Sadove

NEW YORK-When Saks’ merger with Hudson’s Bay Co. is finalized, the retailer’s chairman and CEO, Stephen Sadove, and president and chief merchant, Ronald Frasch, will leave the company, according to a Saks statement. The planned merger, which was announced in July, is expected to be completed by the end of the calendar year. The statementMore »

Last updated: September 16, 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