Gilt: Business News Roundup, June 5

Retail Rue La La to buy Gilt Flash sale site Rue La La said Monday it will buy rival Gilt from department store chain Hudson's Bay as it seeks to fortify its presence in the world of online discount luxury. Hudson's Bay, which operates Saks Fifth Avenue and Lord & Taylor among other chains, bought Gilt for $250 million in 2016, and created Gilt shops inside its discount chain Saks Off Fifth. At the time, Hudson's Bay touted the deal as a way to rev up its online engine, but it failed to deliver a big benefit. The terms of Monday's deal were not immediately disclosed.