“Hudson‘s Bay is a real estate company, full stop,” the activist investor said in a letter to HBC.
“The collection feels like a trip to San Miguel de Allende, Mexico,” designer Sam Edelman told FN.
Macy’s is said to be courting several buyers — but a sale is not that simple.
Comparable sales declined 4.6 percent at Saks Fifth Avenue.
Hudson’s Bay Co.’s Q1 net loss almost doubled to $97 million CAD, or $76.6 million, from $48 million CAD, or $37.9 million, in the comparable period.
Chung attended the opening of the Saks Off 5th NYC flagship store on Thursday.
Analysts believe a confluence of market factors could make 2016 a red-hot year for mergers and acquisitions.