Saks luxury only part of our growth plan: New CEO

There are three dominant themes in retail, and Hudson's Bay is well-positioned to capitalize on them all, newly named CEO Gerald Storch told CNBC's "Squawk Box" on Thursday.

Those three themes are luxury retail, the emergence of omnichannel selling, and value.

With subsidiaries like Saks Fifth Avenue and Lord & Taylor, Hudson's Bay has got luxury in spades, Storch said. As for omnichannel selling—the integration of Internet, mobile and bricks-and-mortar operations—he said the company would continue expanding its online business.

"To do that you need great brands like Saks Fifth Avenue, like Lord & Taylor, like Hudson Bay, so (it's a) perfect template to do what we've talked about for years on this program," he said, referring to his commentary as founder of retail consultancy Storch Advisors.

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In the fight for the value shopper, Hudson's Bay's discount brand Saks OFF 5TH will become an even bigger growth driver, he said, pointing to the role of Nordstrom Rack in propelling sales and digital growth at parent company Nordstrom.

Asked whether Saks OFF 5TH could denigrate the company's luxury brand, he said the brands are synergistic, and Saks OFF 5th serves as an entry vehicle into the higher-end Saks brand.

"More than that, people shop everywhere anyway. There are very few customers who only shop at one store. This gives you an opportunity based on your shopping occasion, what you're buying. If you're going to a fancy evening event you can go to Saks Fifth Avenue. If you're just out with the kids and you want to have something to wear on the weekend, you go to Saks OFF 5TH," he said.

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Hudson's Bay Company announced on Wednesday that Storch will take over as CEO on Jan. 6. Outgoing CEO Richard Baker will stay on as governor and executive chairman and share the office of chairman with Storch.

Storch is the former chairman and CEO of Toys R Us and the former vice chairman of Target.