Hudson’s Bay Co., Canada’s oldest company, is poised to challenge retailers Nordstrom Inc. and Holt Renfrew & Co. Ltd. with a $2.4 billion purchase of Saks Inc. that takes the battle for consumers upscale.
Manhattan developers are planning the city’s biggest decade of office construction since the 1980s, betting on rising demand for modern space even with tenants unsigned and the availability of financing more limited.
Venture firms such as New Enterprise Associates and Accel Partners are stepping up investment in e- commerce as shoppers increasingly turn to niche websites for custom-made clothes at prices that undercut department stores.
Bond investors awarded Nordstrom Inc. its lowest borrowing cost ever on a sale of 10-year bonds this week as the high-end U.S. department-store chain founded in 1901 shows that it’s able to withstand slowing economic growth.
Last April, Gamestop Corp. opened a store on Facebook to generate sales among the 3.5 million-plus customers who’d declared themselves “fans” of the video game retailer. Six months later, the store was quietly shuttered.