The pressure is growing for Hudson's Bay Co. to raise shareholder value.With HBC's stock price sinking, Land & Buildings Investment Management LLC sent a public letter to HBC's board of directors to "evaluate all strategic alternatives to maximize shareholder value." Land & Buildings holds 4.3 percent of Hudson's Bay shares.Land & Buildings also said a merger of Hudson's Bay with Neiman Marcus or Macy's — HBC has recently been in talks with both chains — would be "challenging and complicated." Land & Buildings noted that HBC's stock has declined nearly 25 percent since the deal talks surfaced.The shareholder also cited Hudson's Bay decision last week to cut 2,000 jobs and reorganize top management to save 350 million Canadian dollars annually.Land & Buildings added that unlike its peers, Hudson's Bay owns the vast majority of its real estate and said it is worth 35 Canadian dollars per share, compared with its current share price of 8.88 Canadian dollars. HBC owns the Saks Fifth Avenue and Lord & Taylor flagships in Manhattan, among other properties.Sensing opportunity with an activist now pushing for changes, investors traded shares of the company up 13.7 percent to 10.10 Canadian dollars in early trading on the Toronto Stock Exchange.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.