Saks Sold!

Hudson Bay, the parent company of Lord and Taylor, purchasing Saks for almost $3B. No shocker here. Seems like the right fit to round out their portfolio, as both seem to appeal to an older demographic. With the luxury market finally showing some rebound from the struggle-tastic “economy” of the past few years, it will be interesting to see how Hudson uses the combined assets. Some speculate it will use the Saks roster to fill in holes in the Lord and Taylor mix. I could see a more Bloomingdale’s feel coming out of that. However, Bloomingdale’s has more youth and levity on its’ side. Plus, where would that leave Saks in the equation? Either way, we’ll be watching. ¬†Source¬†