Saks helped drive HBC's sales prior to Mckee's departure

In the surprising depature of Marigay Mckee from Saks Fifth Avenue, there is no question that the lady seems to have left her mark. Hudson's Bay Company (HBC) posted a much better-than-expected Q4 with profits tripling. Whatever Mckee's secret formula was the proof is in the pudding, because Saks seems to have returned to its former glory as one of the most hot-stop luxury retail department stores in the country.

HBC has reported that their net earnings for quarter for grew to a staggering 111 million dollars, compared to 29 million dollars last year. Same-store sales grew to 2.6 percent, while their outlet chain, Saks Off Fifth, saw sales grow 12.1 percent. Marc Metrick, Mckee's successor, certainly has a big pair of designer shoes to fill, but given that he is considered part of the force that helped Saks be so successful last year he should be able to help them continue their profitable streak.

In regards to the strategy for Saks Fifth Avenue, Hudson's Bay Company CEO Gerald Storch was quoted in Footwear News saying, "“As for the strategy of Saks Fifth Avenue … it’s the same one that was designed and developed in developing the acquisition case for the company, the same strategy the team started, including Marc, who was here throughout this period [and] instrumental in that strategy." Oliver Chen, analyst for Cowen & Company, a leading financial services firm, said that he is optimistic that Saks can remain consistent in their success from Q4.

Mckee's departure was so abrupt that it is still unclear what caused her departure from Saks. Her goal when she was there was to add exclusive merchandise to the stores, all while ensuring that it retained its traditional retail identity. Clearly what she did, so, it's a shame that she is no longer with the company, but, she will still be remembered as the business woman who helped triple Saks sales.