Investing.com - Financial Markets Worldwide
Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Hudson's Bay close to buying online retailer Gilt Groupe - WSJ

Published 2015-12-14, 06:03 p/m
© Reuters. Hudson's Bay close to buying online retailer Gilt Groupe - WSJ
QRTEA
-
HBC
-

Dec 14 (Reuters) - Canadian department store operator
Hudson's Bay Co HBC.TO is close to a deal to buy online luxury
retailer Gilt Groupe for about $250 million, the Wall Street
Journal reported, citing people familiar with the matter.
Gilt, which was valued at $1 billion in 2011, will be paired
with Saks Off 5th brand, the WSJ said, citing one source. (http://on.wsj.com/1lJAvT1)
Hudson's Bay, which bought U.S. luxury retail chain Saks
Fifth Avenue in 2013 for $2.4 billion, plans to open Gilt shops
inside Saks Off 5th stores, the Journal said.
"It is our policy not to comment on rumors or speculation,"
Hudson's Bay spokeswoman Tiffany Bourre said. Gilt was not
available for comment.
The Journal said a final deal has not yet been reached and
cautioned that the talks could still fall apart.
Gilt, which runs limited-time online sales of furniture,
fashion and other products, has struggled in the face of stiff
competition.
Liberty Interactive Corp (O:QVCA), which owns home shopping network
QVC, said in August it would acquire Zulily Inc, a flash-sale
site for moms, in a deal valued at $2.4 billion, a 15 percent
discount to Zulily's 2013 initial public offering price.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.