MEDIA-HBC to open up to 40 Saks Off 5th outlets in Germany - CEO in paper

Fri Nov 20, 2015 1:53pm EST
 
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FRANKFURT Nov 20 (Reuters) - ** Hudson's Bay Co (HBC) plans to open as many as 40 branches of its Saks Off 5th outlet chain in Germany in the foreseeable future, Chief Executive Jerry Storch said in German newspaper Die Welt

** The comments come five months after HBC spent $3.2 billion to buy German department store chain Kaufhof

** Storch told Die Welt there were "only a few" Kaufhof stores that HBC was reviewing for possible closure and added that no decision had been made yet

** To add more service in shoe and cosmetics departments at Kaufhof and add new women's clothing brands (Editing by Jane Merriman)