Certain Canadian news outlets are suggesting that Hudson’s Bay. Co. is aggressively growing their international presence and now has American retailer, Macy’s in their sights.
According to 680 News, HBC declined to comment on their interest in Macy’s after The Wall Street Journal released a report stating that HBC and Macy’s were in early talks for a takeover.
While there hasn’t been any confirmation industry insiders speculate that “when there is smoke, there’s fire”. Richard Baker, HBC’s current Governor and Executive Chairman is a master at acquisition and Macy’s extensive real estate could be very enticing for HBC.
Reports go into further detail analysing the fact that Macy’s is currently experiencing some financial difficulties and could be ripe for a takeover.
If the takeover is successful, we think it’s unlikely that HBC would bring Macy’s north of the border in a full retail department store model. It’s more likely that products and product ranges from Macy’s would be available through existing HBC channels.
Source: 680 News