×
74 023
Fashion Jobs
HOMEGOODS
Loss Prevention Customer Service Associate
Permanent · Plymouth
HOMEGOODS
Loss Prevention Detective
Permanent · Edina
TJ MAXX
Retail Store Cleaning Part Time
Permanent · Corvallis
HOMEGOODS
Loss Prevention Associate- Full Time
Permanent · Worcester
AMERICAN EAGLE OUTFITTERS
Specialist - Commercial Asset Protection - us
Permanent · ELIZABETH
MONCLER
Raw Material Purchasing
Permanent ·
MONCLER
HR Analyst
Permanent ·
ROSS
Store Protection Specialist
Permanent · Los Angeles
ROSS
Store Protection Specialist
Permanent · Villa Park
FOOT LOCKER
sr. Director Marketing, Foot Locker North America
Permanent · New York
JCPENNEY
Asset Protection Associate - Auburn Mall
Permanent · Auburn
JCPENNEY
Asset Protection Associate - South Hill Mall
Permanent · Puyallup
JCPENNEY
Asset Protection Associate - Wheaton Plaza
Permanent · Wheaton-Glenmont
JCPENNEY
Asset Protection Associate - Woodland Shopg Cntr
Permanent · Grand Rapids
JCPENNEY
Asset Protection Associate - The Empire Mall
Permanent · Sioux Falls
JCPENNEY
Sales Floor Supervisor - Woodland Hills Mall
Permanent · Tulsa
JCPENNEY
Asset Protection Associate - Oak Park Shopg Cntr
Permanent · Overland Park
JCPENNEY
Asset Protection Associate - Parkway Plaza
Permanent · El Cajon
JCPENNEY
Sales Floor Supervisor - Coronado Center
Permanent · Albuquerque
JCPENNEY
Asset Protection Associate - West County Ctr
Permanent · Des Peres
JCPENNEY
Asset Protection Associate - Wellington Green s/c
Permanent · Wellington
JCPENNEY
Asset Protection Associate - Mall of Victor Vly
Permanent · Victorville
Published
Feb 2, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hudson's Bay lays off workers, plans Saks.com IPO

Published
Feb 2, 2021

Hudson's Bay Company is permanently laying off workers across Canada, as it attempts to keep up with ongoing disruptions caused by the Covid-19 pandemic. 

Hudson's Bay lays off workers; plans Saks.com IPO. - Facebook: Saks Fifth Avenue


It will lay off more than 600 workers, which represents about five percent of the company's total workforce. Hudson's Bay has suffered from forced store closures during much of the last year, and currently about half the company's department stores are still temporarily closed. 

Still, the legacy retailer has a star contender as it is reportedly working to spin off Saks.com into a public company. The plan is to separate Saks.com from the Saks brick-and-mortar stores, creating two different entities under one exclusive agreement. 

According to WWD, Hudson’s Bay is currently in discussion with investors to do a private placement, which could lead to an IPO in as little as 12 months. 

Most recently, Saks.com received a facelift with updates including a redesigned new arrivals section and a larger focus on its menswear categories. 

Many retailers have been part of the IPO race over the last few years. Just last month, German online luxury retailer Mytheresa was valued at $2.2 billion in its initial public offering in New York. 

Similarly to Saks, Mytheresa offers ready-to-wear, shoes, bags and accessories for women, men and kids -- from luxury designer brands such as Bottega Veneta, Burberry, Dolce & Gabbana, Fendi, Gucci, Moncler, Prada, and Saint Laurent, to name a few. 

Likewise, Poshmark shares more than doubled in the retailer's public debut equally launched earlier this year, while its resale competitor ThredUp revealed back in October that it had also filed confidentially for an initial public offering.

Unlike fellow long-established department stores like J.C. Penney and Neiman Marcus, Hudson’s Bay has managed to stay clear of bankruptcy amid the Covid-19 pandemic.

Copyright © 2023 FashionNetwork.com All rights reserved.