Flash sales are the new thing. Millennials love it. Flash sales represent heavily discounted name-brand products. These online sites have fast turnover and slim margins. Hudson’s Bay (owner of Saks Off Fifth) just bought Gilt Groupe for $250 million. Gilt has over 6 million members. The plan is to roll up Gilt under Saks Off Fifth. Approximate revenues for Hudson’s Bay will be $500 million in 2016.