A recently disclosed credit card hack affecting Saks Fifth Avenue, Lord & Taylor, and Saks OFF 5TH will make it that much harder for Hudson's Bay to return to profitability.
News & Analysis: Hudson’s Bay Company
Weak fourth-quarter results provide yet another indication that the company must take drastic action to fix the underperforming parts of its business.
Next January, Lord & Taylor will close its store at Oakbrook Center in the Chicago suburbs, as the retailer continues to reshape its real estate footprint.
After another terrible quarterly performance from Lord & Taylor, Hudson's Bay should strongly consider whether it's worthwhile to continue operating two separate upscale department store chains in the U.S.
Hudson's Bay just sold the flagship Lord & Taylor store building in Manhattan to WeWork, and it plans to form a broader partnership with the fast-growing shared-office-space startup.
The multinational department-store company's losses are getting worse, and Hudson's Bay's management seems unwilling to make the bold changes that may be necessary.
An activist investment firm wants Hudson's Bay to consider shutting Saks Fifth Avenue and Lord & Taylor stores to sell the valuable underlying real estate.
Neiman Marcus posted another big revenue and earnings decline last quarter -- and there's no longer a likely buyer waiting in the wings.
If Neiman Marcus can't sell itself to Hudson's Bay or another potential bidder, it may be headed for bankruptcy.