Hudson’s Bay completes acquisition of Saks; NYC flagship to get major renovation
Toronto — Canada’s Hudson’s Bay Co. said Monday that it has completed its $2.4 billion acquisition of Saks Inc. Saks shareholders overwhelmingly approved the sale of the New York company during a special meeting on Wednesday. The combined company will operate a total of 320 stores, including 179 full-line specialty department stores, 72 outlet stores and 69 home stores in prime locations throughout the U.S., and Canada, along with three e-commerce sites.
In related news, Hudson’s Bay CEO Richard Baker told CNBC on Monday that Saks’ flagship in Manhattan will be getting a major makeover, as part of the acquisition.
"We will be able to spend $200 million to $250 million to renovate this store to really make it the most exciting and spectacular department store in the world," Baker said.
Saks previously said that chairman and CEO Stephen Sadove and president and chief merchant Ronald Frasch would leave the company once the transaction closed. Hudson’s Bay said that Marigay McKee would take over as president.
Macy’s annual Thanksgiving Day Parade to come with free app
New York — The 87th Annual Macy’s Thanksgiving Day Parade will step-off at 77th Street and Central Park West on Thursday, Nov. 28 at 9 a.m. Started in 1924 with only about a dozen elements, the 2013 line-up of wonder features 15 giant character balloons; 37 large scale, novelty/ornament balloons, balloonicles, balloonheads and trycaloons; 30 floats; 1,600 cheerleaders and dancers; 900 clowns; 11 marching bands; and a host of celebrity performers.
This year’s parade also features its own app. The free Macy’s Thanksgiving Day Parade App will give fans the chance to interact with the famed march, learn more about the elements and share content with their friends.
From behind-the-scenes previews to the exclusive Elf-o-matic feature, which allows fans to transform themselves into an Elf balloon and share their high-flying debut with friends, the App is a one-stop destination for all things Macy’s Parade. The App can be downloaded from the iTunes App Store or from Google Play.
In addition to the interactive app experience, this year Macy’s iconic characters will take center stage in a series of animated spots on Macys.com/parade.
Sears, Kmart to open on Thanksgiving
Hoffman Estates, Ill. — Sears and Kmart stores joined the growing list of national retailers whose stores will open on Thanksgiving Day.
Kmart, which has opened Thanksgiving Day for 22 years, this year will be open for 41 straight hours, starting at 6 a.m. Thanksgiving Day to 11 p.m. Black Friday. Sears will open at 8 p.m. Thanksgiving Day.
Sears and Kmart are delivering integrated retail shopping options. For example, if a members or customer can’t find a product in-store at Sears or Kmart, they can order it in-store and have it shipped to their home for free.
"Sears and Kmart have been leaders in integrated retail, delivering convenient options to create a more rewarding shopping experience for our members, while blurring the boundaries between offline and online shopping," said Leena Munjal, senior VP customer experience and integrated retail, Sears Holdings
Plus, Kmart’s latest budgeting solution for the holidays – lease-to-own through Whynot Leasing, LLC – is available nationwide starting Nov. 22. The program gives customers a no- credit-required way to take home products they need or want, right away – including doorbuster items.