The department store retail landscape changes only every 5-10 years. Sears, JCPenny and Macy's continue to make headlines weekly. With a focus on leveraging buying power and economies of scale, we are in the midst of a North American overhaul.
Much has been written about the deal HBC executed to sell off 130+ Zellers leases to Target. Less has been written about HBC's acquision of Lord & Taylor (or the subsequent merge of the leadership team). And perhaps more significant is The Bay's close relationship with Macy's Inc., enjoying exclusivity in Canada to many Macy Merchandising Group's private labels and other Macy's exclusive collections.
Mr. Baker has made some bold moves at the helm of HBC, which makes the below article particularly interesting (be sure to make it to the bottom where it's indicated that Macy's owns Bloomingdale's).