International News

Hudson’s Bay to invest 400 mn Euros in Europe

May 4, 2017

Canadian department store operator Hudson’s Bay Co revealed its plan to invest around 400 million euros ($425 million) in Europe this year in a bid to grow its sales there by 20% over the next two years. If there were opportunities for takeovers that were a good fit for the group, then Hudson’s Bay would consider them, he added. Asked about reports that Hudson’s Bay was in exploratory talks with debt-laden luxury retailer Neiman Marcus Group, Chairman Richard Baker said the group was interested in consolidation.