The parent company of Saks Fifth Avenue said Friday (March 5) it was splitting its eCommerce and 40 traditional retail stores into “separate but related sister companies” in a move it said would “redefine the luxury shopping ecosystem.” By establishing the Saks.com brand as a...
HBC has announced HBC Properties and Investments (HBCPI), an investments and real estate business to supervise, optimize and improve the firm’s asset collection. HBC, whose portfolio firms include retailers such as Hudson’s Bay, owns or manages 40 million square feet of gross leasable space throughout...
As consumers shift their spending from brick-and-mortar stores to eCommerce sites, iconic American fashion and houseware brands are shuttering their flagship stores. Lord & Taylor, for example, plans to close its store on Manhattan’s swanky Fifth Avenue, CBS reported. That decision came after the retailer...
Welcome to Five at Five, your late look at payments and commerce news you might have missed. Today’s stories include details about Amazon’s new plans for India, Apple’s new Face ID setting and why Ant Financial is shifting focus. There is also news about the...
August 21, 2024
The planned acquisition of Neiman Marcus Group (NMG) by HBC, the parent company of Saks Fifth Avenue, is one step nearer to closing. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with the transaction has expired, the luxury retail companies said in a Wednesday (Aug. 21) press release. “The expiration of the […]
October 21, 2020
HBC has announced HBC Properties and Investments (HBCPI), an investments and real estate business to supervise, optimize and improve the firm’s asset collection. HBC, whose portfolio firms include retailers such...
October 25, 2017
WeWork, a New York-based company providing flexible, coworking workspaces, has inked a deal to acquire space in department store chain Lord & Taylor’s flagship Manhattan location for $850 million. According...
February 10, 2016
A month after acquiring Gilt, Saks is getting it into its stores. As Fortune reports, Hudson’s Bay Co. (HBC), which owns Saks Fifth Avenue, acquired the eCommerce brand Gilt in...
