Department Store Wars

The Department Store Wars Are Heating Up - NYTimes.com: "The war chests are growing in the department store world, in case you hadn’t noticed. Today Richard Baker, the owner of Hudson’s Bay Company, the Canadian department store chain that bought Saks Fifth Avenue last summer (and also owns Lord & Taylor) told WWD he planned to invest “$40 million” in the group’s digital activities this year — this on top of the $1 billion new-ish president Marigay McKee told me earlier has already been allotted to revamping the Saks chain over the next five years."

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