Saks Fifth Avenue might have been the last addition to the Hudson’s Bay [fortune-stock symbol= »HBC »] empire of three major department store chains, but the luxury retailer is leading the pack.
Not only did Saks, which HBC bought in 2013 for $2.4 billion, outperform its sister chains Lord & Taylor and Canada’s Hudson’s Bay in terms of comparable sales growth in 2014, the chain also generated 72% of HBC’s overall e-commerce sales that year, despite accounting for about 36% of company sales.
And despite some turmoil at Saks — the company’s star executive, Marigay McKee, left last week after only 15 months for reasons unknown (though Vogue surmised on Tuesday that a poor cultural fit rather than her vision for Saks was the culprit) — that banner is set to lead the charge for HBC’s growth this year.
For one thing, HBC executives say they are speeding up the pace of…
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