The National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
Shareholders approve Saks-Hudson’s Bay merger
Saks Inc. announced Wednesday that is shareholders have given the green light for the high-end retailer to merge with Canadian retailer Hudson’s Bay Company.
New York--Saks Inc. announced Wednesday that is shareholders have given the green light for the high-end retailer to merge with Canadian retailer Hudson’s Bay Company.
According to a news release issued by Saks, approximately 99 percent of the total votes cast, which represents about 85 percent of the total shares outstanding, were in favor of Saks being purchased by Hudson’s Bay.
Saks has 41 Saks Fifth Avenue stores, 72 Off Fifth Stores--its off-price arm--and sells via Saks.com.
Hudson’s Bay Company, or HBC, announced its intention to purchase Saks in July in an all-cash transaction valued at $2.9 billion. HBC owns Canadian department store chains Hudson’s Bay and Home Outfitters as well as Lord & Taylor in the United States.
HBC was founded as a fur trading company in 1670 and is the longest continually operating retailer in North America.
The deal, which is expected to close before the end of the year, was subject to approval by Saks shareholders, which it now has.
The Latest

The 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.

Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.


The virtual event will take place April 7 at 3 p.m.

The pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Parent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.

Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.

The educational event will take place in Charlotte, North Carolina, this May.

The independent jeweler first opened its doors in 1888.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.