Hudson's Bay is in talks to buy struggling U.S. luxury retail chain Neiman Marcus, the Wall Street Journal reported on Tuesday, citing unnamed sources. The sources say that Hudson's Bay is looking for a deal that would give it control of Neiman Marcus but wouldn't involve assuming the company's debt. Hudson's Bay says that as a matter of company policy, it does not comment on rumors or market speculation. Founded in 1670, Hudson's Bay operates more than 470 stores under banners such as the Bay, Saks Fifth Avenue, Lord & Taylor, Gilt, and SAKS OFF 5TH. Shares in Hudson's Bay were down 1.85 per cent, or 22 cents, to $11.67 on the Toronto Stock Exchange in mid-morning trading.

Source: CBC News March 14, 2017 15:56 UTC