By and  on August 20, 2013

It’s not a done deal yet but an eager Richard Baker has been touring Saks Fifth Avenue locations, eyeing potential closings as well as capital improvements, and locations that could be converted to Lord & Taylor units.

There is clearly work to do. On Monday, Saks Inc. reported second-quarter numbers that were weak, sparking speculation among vendors and analysts about what Baker, the chairman and chief executive officer of Hudson’s Bay Co., could do to improve Saks and its anemic profitability. It’s a business which, like Neiman Marcus, is widely viewed as having limited growth potential, but the cachet endures and Baker has an adventurous streak that could take the brand in new directions.

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