Posted Feb 4, 2017, 2:00 AM
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The New Republic
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Join Date: Dec 2008
Location: United Provinces of America
Posts: 10,852
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It's very early on but if successful Hudson's Bay revenue would zoom to roughly $41 billion based on 2016 numbers for HBC and Macy's.
Quote:
Hudson’s Bay making bid to take over Macy’s
Hudson’s Bay. Co. appears to be continuing its aggressive international growth with reports it’s eyeing another American retailer, Macy’s Inc. As of April 2, 2016, the company operates about 870 stores across the United States as well as Guam and Puerto Rico, according to Macy’s website. In August, the company announced it would close about 100 locations.
HBC, founded in 1670, has made a number of acquisitions in recent years.
In 2013, HBC announced it struck a deal to acquire Saks Inc. for $2.9 billion (U.S.), including debt. The acquisition allowed it to bring the luxury retailer Saks and its discount brand Saks Off 5th to Canada. Since then, HBC has opened two Saks locations and nine Saks Off 5th stores in the country, with many more planned.
HBC also purchased Galeria Kaufhof, the largest department store chain in Germany and Belgium, for $3.9 billion in 2015 as part of a major overseas expansion plan. It plans to open 40 Saks Off 5th discount stores in Germany and up to 20 new stores in the Netherlands, under the Hudson’s Bay and Saks Off 5th banners.
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Full article: https://www.thestar.com/business/201...port-says.html
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