HBC continues to realize big gains from Saks acquisition

Canadian retailer Hudson's Bay Co (TSX: HBC) has reported financial results for the second quarter of 2014, showing sales totaling $1.77 billion, which reflect an increase of close to 87 percent from $948 million the year before. The business attributed sales growth, as well as year-over-year gains in gross profits, primarily to the inclusion of New York-based luxury retailer Saks Inc, which it acquired last November in a deal valued at US$2.9 billion. Hudson's Bay is a portfolio investment of U.S. private equity firm NRDC Equity Partners.

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