Hudson’s Bay Co Executive Chairman Richard Baker said on Monday he had teamed up with other shareholders to offer to take the struggling Canadian department store operator private in a $1.3 billion cash deal.
Transform Holdco, the parent company of Sears and Kmart owned by Eddie Lampert’s ESL Investments, has announced that it has signed a merger agreement that will see it acquire all outstanding shares of Sears Hometown.
Sears Holdings Corp sued longtime chairman Eddie Lampert, his hedge fund ESL Investments, and former directors, accusing them of allowing the retailer to be looted of billions of dollars before its bankruptcy.
From Nike Inc and Under Armour to Levi's, major brands are distributing clothing and accessories directly through Amazon.com, attracted by more than 100 million Prime members and its advanced delivery network.
Hudson’s Bay on Wednesday reported a quarterly profit that topped estimates, as sales at its Saks Fifth Avenue stores rose during the holiday season and the Canadian company benefited from an increase in online sales.