Retailers Pitch Wall Street at Bank Of America Conference

Executives from Hudson’s Bay Co., Wal-Mart Stores Inc. and Target Corp. gathered in New York Wednesday to pitch their growth stories to investors at the Bank of America Merrill Lynch Consumer and Retail Conference. While none had shareholders jumping for joy — shares of all three companies slipped along with the rest of the market — the presentations highlighted how each company is striking out on a different course toward market-share gains. HBC is looking to roll out more Saks Fifth Avenue Off 5th doors; Wal-Mart is refining its approach to low-income consumers, and Target is trimming costs and courting shoppers on the Web. Here, a summary of the pictures retailers were painting for Wall Street: • At Hudson’s Bay Co., the Saks Fifth Avenue Off 5th off-price chain has emerged as the prime vehicle for growing the footprint in the U.S. and Canada. “We’re moving them onto Main Street,” said Jerry Storch, HBC’s chief executive officer. “We’re accelerating growth of these stores. They’re the only place where we are really going to push.” Storch said the 79-unit Saks Off 5th is “nowhere near saturation. There is clearly huge opportunity in the value segment….As for outlet malls, I don’t think they’re done. I think outlet

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