Marc Metrick Named President of Saks Fifth Avenue

Hudson’s Bay Company (TSX: HBC) today announced that Marc Metrick has been appointed President, Saks Fifth Avenue, effective April 2, 2015. A highly accomplished retail industry executive, Mr. Metrick is HBC’s Executive Vice President and Chief Administrative Officer. He spent the first 15 years of his career at Saks Fifth Avenue, ultimately becoming its Chief Strategy Officer before joining the leadership team of HBC in 2012.

At HBC, Mr. Metrick played an instrumental role in the acquisition of Saks Fifth Avenue and has since focused on developing the strategic plan that it is now successfully pursuing to revitalize the business. That strategy includes elevating the brand experience, substantially building SaksFifthAvenue.com as part of a seamless all-channel offering, strategically expanding the Saks Fifth Avenue store base in both the U.S. and into Canada and the integration of Saks Fifth Avenue into the HBC business to realize over $100 million in synergies. In his new role, Mr. Metrick will continue to report to Gerald Storch, CEO of HBC.

Richard Baker, Hudson’s Bay Company’s Governor and Executive Chairman, commented, “Marc has played a leadership role in defining the future for Saks Fifth Avenue and putting in place the strategies geared towards delivering enhanced performance now and into the future. He has the respect of his colleagues and enormous passion for the culture and brand of Saks Fifth Avenue. I am confident the company will thrive under his leadership.”

Mr. Storch stated, “Marc’s energy and commitment to Saks Fifth Avenue and its culture, coupled with his strong luxury merchandising and operating background, make him uniquely qualified for this role. I am excited to continue to work closely with him to further the successful strategies underway to take the extraordinary Saks Fifth Avenue brand to its next level of growth and success.”

On his appointment, Mr. Metrick said, “It is not often that one has the opportunity to lead the company where they started and grew up. Saks Fifth Avenue has played such a pivotal role in shaping who I have become as an executive, and I cannot be more excited than to lead Saks Fifth Avenue.” He continued, “We have abundant opportunities ahead, and I am excited to continue working with the Saks Fifth Avenue team to deliver strong, profitable growth into the future.”

In this role, Mr. Metrick replaces Marigay McKee, who has stepped down based on mutual agreement with the Company. Mr. Baker stated, “We thank Marigay for her contributions to elevating the Saks Fifth Avenue experience, and wish her all of best in her future endeavors.” Ms. McKee said, “I am pleased with the journey we’ve been on these past 15 months and am proud of the renewed positioning of the Saks Fifth Avenue brand. I want to thank the great team who have worked so hard to drive this great business forward.”

About Marc Metrick

Marc Metrick, 41, currently serves as Hudson’s Bay Company’s Executive Vice President and Chief Administrative Officer. He spent the first 15 years of his career at Saks Fifth Avenue, beginning in its Executive Training program, holding varying roles in merchandising and strategy and rising to Chief Strategy Officer in 2007. Mr. Metrick joined HBC in 2012 as Chief Marketing Officer, leading the marketing and digital functions for Hudson’s Bay and Lord & Taylor. Mr. Metrick was appointed Chief Administrative Officer when HBC acquired Saks Fifth Avenue Incorporated in 2013.

About Hudson’s Bay Company

Hudson’s Bay Company, founded in 1670, is North America's longest continually operated company. Today, HBC offers customers a range of retailing categories and shopping experiences primarily in the United States and Canada. Our leading banners – Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH- offer a compelling assortment of apparel, accessories, shoes, beauty and home merchandise. Hudson’s Bay is Canada's most prominent department store with 90 full-line locations, two outlet stores and thebay.com. Lord & Taylor operates 50 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com. Saks Fifth Avenue, one of the world's pre-eminent luxury specialty retailers, comprises 39 U.S. stores, five international licensed stores and SaksFifthAvenue.com OFF 5TH offers value-oriented merchandise through 79 U.S. stores and saksoff5th.com. Home Outfitters is Canada's largest kitchen, bed and bath specialty superstore with 67 locations. Hudson’s Bay Company trades on the Toronto Stock Exchange under the symbol "HBC.”