Following Hudson’s Bay Company’s purchase of high-end department store Saks, Retail Week takes a closer look at the two companies.

  • The all-cash deal has been valued at $2.9bn (£1.9bn) and includes Saks’ debt. The deal has been approved by each of the company’s board of directors and is expected to be finalised before the end of the calendar year.
  • Following the deal, Hudson’s Bay Company (HBC) said it will launch Saks in Canada through full-line, outlet and online formats.
  • Saks will continue to operate separately and will remain headquartered in New York City.  
  • Saks sells US and international designer collections, handbags, footwear, jewellery and cosmetics across its 41 stores and 67 outlets in the US. It competes with the likes of Barneys, Bloomingdale’s and Bergdorf Goodman.
  • Hudson’s Bay Company operates Hudon’s Bay, Canada’s largest department store chain, with 90 locations. Like Saks, it sells a range of fashion, beauty, home and accessories. The parent company also runs Home Outfitters, a home speciality superstore with 69 locations across the country. In the US it owns Lord & Taylor, a department store with 48 sites across the States.