4 Consumer Stock Stories for Your Tuesday Entertainment
Saks Inc. (NYSE:SKS): Closing price $15.91
Saks’ potential new owner Hudson’s Bay Co. is mulling the idea of expanding the American luxury retailer with stores in Europe and Asia. HBC President Bonnie Brooks commented Monday to the Canadian Club of Montreal that, “We’d be one of the first to have a department store as a global brand. Europe is certainly a possibility but Asia is more logical.” Brooks spent 11 years revitalizing the Hong-Kong-based retailer Lane Crawford before coming to the Bay in 2008, and said that Asia holds the greatest potential for global growth.