Advice for retailer Hudson’s Bay: build condos

Hudson’s Bay Companies, the owner of Saks Fifth Avenue and Lord & Taylor, is looking to reclaim capital, and one of its shareholders has offered a solution: cash in on condos above its stores. The Canadian retailer has been cutting losses across the business as its share price has dropped 22 percent in the past two years. This month it announced the closure of its flagship Lord & Taylor store at 424 Fifth Avenue after […]

Source: Real Estate

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