Following Monday's acquisition, Hudson's Bay said it plans to strengthen Saks Fifth Avenue's omnichannel presence and continue the retailer's rebranding efforts that include the "LOOK" initiative, which aims to paint Saks as a destination for fashion inspiration. "We have made significant progress over the past few years to position Saks for future growth and to evolve into an omnichannel retailer," Saks CEO Steve Sadove said. "We are excited about what this opportunity and being part of a much larger enterprise can mean for the future of the Saks Fifth Avenue brand."

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