Editing Hudson's Bay Company (section)

=== Saks, Inc. ===
[[File:Saks Fifth Avenue flagship Mar 2021 60.jpg|thumb|[[Saks Fifth Avenue flagship store]]. [[Saks Fifth Avenue]] is a chain owned by HBC since 2013.]]
On 29 July 2013, Hudson's Bay Company announced that it would buy [[Saks, Inc.]], operator of the American [[Saks Fifth Avenue]] brand, for [[United States dollar|US$]]2.9&nbsp;billion, or $16 per share.<ref>{{Cite news |date=29 July 2013 |title=Saks snapped up by Canada's Hudson's Bay in $2.9bn deal |work=[[BBC News]] |url=https://www.bbc.co.uk/news/business-23491574 |access-date=29 July 2013}}</ref><ref>{{Cite news |last=Evans |first=Pete |date=29 July 2013 |title=Hudson's Bay to bring Saks to Canada in $2.9B takeover |publisher=[[CBC News]] |url=https://www.cbc.ca/news/business/hudson-s-bay-to-bring-saks-to-canada-in-2-9b-takeover-1.1408868 |access-date=6 October 2015}}</ref> The merger was completed on 3 November 2013.<ref>{{Cite news |date=4 November 2013 |title=Hudson's Bay completes acquisition of Saks |work=Yahoo Finance |agency=Associated Press |url=https://finance.yahoo.com/news/hudsons-bay-completes-acquisition-saks-193823259.html |access-date=5 October 2015}}</ref> The company also stated that as a result of the purchase, Canadian consumers would see Saks stores arriving in their country soon.<ref>{{Cite news |date=29 July 2013 |title=Hudson's Bay to buy Saks, bring stores to Canada |work=Financial Post |agency=Reuters |url=http://business.financialpost.com/2013/07/29/hudsons-bay-to-buy-saks-bring-stores-to-canada/ |url-access=subscription |access-date=7 October 2015}}</ref> After the purchase was finalized, HBC had a net loss of $124.2&nbsp;million in the 2013 3Q due to the cost of the purchase and promotions.<ref>{{Cite news |last=Moin |first=David |date=11 December 2013 |title=HBC's Net loss Grows to $124.2M |url=http://www.wwd.com/business-news/financial/hbcs-net-loss-grows-to-1242m-7307704?src=n/newsAlert/20131211-2 |url-access=subscription |access-date=11 December 2013 |work=[[Women's Wear Daily]] |publisher=Fairchild Publishing}}</ref><ref>{{cite web |last=Shoulberg |first=Warren |date=22 February 2019 |title=Hudson's Bay Company Teardown Continues With Closing of Home Outfitters, 20 Saks Off Fifth Stores |url=https://www.forbes.com/sites/warrenshoulberg/2019/02/22/hbc-closing-home-outfitters-20-saks-off-fifth-stores-as-its-teardown-continues/#45f1a68366c0 |access-date=22 March 2022 |work=[[Forbes]]}}</ref>

[[Saks Global]] purchased the American [[Neiman Marcus Group]] (NMG).<ref>{{cite web |last1=Latham |first1=Tori |date=26 December 2024 |title=Saks Officially Acquires Neiman Marcus for $2.7 Billion |url=https://robbreport.com/lifestyle/news/saks-acquires-neiman-marcus-1236136393/ |website=Robb Report}}</ref><ref>{{cite web |last1=Singh |first1=Prachi |date=24 December 2024 |title=Saks Global completes the acquisition of Neiman Marcus |url=https://fashionunited.com/news/business/saks-global-completes-the-acquisition-of-neiman-marcus/2024122363662 |url-access=registration |website=Fashion United |publisher=}}</ref><ref>{{Cite web |last=Moin |first=David |date=2024-12-11 |title=Saks Owner HBC Secures $2 Billion Bond to Buy Neiman's |url=https://wwd.com/business-news/retail/saks-owner-hbc-secures-2-billion-bond-to-close-deal-to-buy-neiman-marcus-group-1236760588/ |access-date=2024-12-24 |website=[[Women's Wear Daily]] |language=en-US}}</ref> The acquisition was finalized in December 2024 and the purchase cost $2.7 billion.<ref name="SN">{{Cite web |last=Schulz |first=Madeleine |date=2024-12-24 |title=The Saks-Neiman merger is on |url=https://www.voguebusiness.com/story/companies/the-saks-neiman-merger-is-on |access-date=2024-12-25 |website=[[Vogue Business]] |language=en-US}}</ref> The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th,<ref name="HBC Heritage-3">{{Cite web |last=Pequeño IV |first=Antonio |date=2024-12-23 |title=Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal |url=https://www.forbes.com/sites/antoniopequenoiv/2024/12/23/saks-global-inks-27-billion-acquisition-of-neiman-marcus-in-amazon-backed-deal/ |access-date=2024-12-24 |website=[[Forbes]] |language=en}}</ref> The purchase was supported with financing from [[Amazon (company)|Amazon]] (who will work with the group to “to innovate on behalf of customers and brand partners”),<ref name="HBC Heritage-3" /> [[Authentic Brands Group]], [[G-III Apparel Group]] and [[Salesforce]].<ref name="H-2">{{Cite web |last=Moin |first=David |date=2024-12-23 |title=Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group |url=https://wwd.com/business-news/retail/saks-2-7-billion-deal-neiman-marcus-group-finalized-1236777177/ |access-date=2024-12-24 |website=[[Women's Wear Daily|WWD]] |language=en-US}}</ref> There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.<ref name="H-2" /> In an interview with Vogue Business, Metrick (CEO of Saks Global Operating Group) said that this is only the beginning of the groups ambitions and that they are now thinking of what the entity might look like internationally.<ref name="SN" />