Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Hudson's Bay acquiring Saks Inc.

July 29, 2013   According to the press release, this transaction will bring together three of the retail industry's most iconic brands - Hudson's Bay, Lord & Taylor and Saks Fifth Avenue. The combined company will operate 320 stores, including 179 full-line department stores, 72 outlet stores and 69 home stores in locations in the U.S. and Canada along with three e-commerce sites.

Saks currently operates 41 stores in 22 states in the U.S. The acquisition of Saks will drive significant growth opportunites for Hudson's Bay Company including the introduction of Saks into Canada through full-line, outlet and online formats. Kampe said Hudson's Bay has multiple marquees and is really a Canadian company. The Canadian market he said, has more value than the U.S. and with Saks being a high fashion brand company, it doesn't necessarily seem to fit. According to Kampe, there haven't been any significant changes made to the Lord & Taylor brand since Hudson's Bay Company acquired it in 2012.