Saks Fifth Avenue’s Parent Company Is Betting Big On Real Estate As A Lifeline While Retail Sales Struggle

According to the New York Post, HBC is exploring expanding the Saks Brand into hotels and luxury apartments. The strategic shift follows HBC’s $2.65 billion acquisition of competitor Neiman Marcus. The company is already developing a hotel and residences in Beverly Hills and townhomes in Westfield, New Jersey, where an abandoned Lord & Taylor once stood. Read more at Yahoo! Finance/Benzinga.