HBC news and archive

Richard Baker to buy Ontario pension fund stake in retailer

A venture controlled by HBC Chairman Richard Baker will buy the stake owned by a unit of Ontario Teachers’ Pension Plan Board in the Canadian retailer, according to L&T B Cayman, a top shareholder in Hudson’s Bay and a joint buyer. The news was reported by CNBC. Hudson's Bay portfolio includes Saks Fifth Avenue, Lord & Taylor, and Galeria...

ManagementFeatured

HBC merges its European business with Signa’s Karstadt

Hudson’s Bay Company (HBC) has entered into definitive agreements with Signa Retail Holdings, to form a strategic partnership for its European retail and real estate assets. The development would see HBC Europe's retail operations merge with Signa's Karstadt Warenhaus GmbH, with HBC taking a 49.99 percent interest in the combined businesses....

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HBC’s board director Denise Pickett steps down

Hudsons Bay Company (HBC) has announced that Denise Pickett has stepped down as a director of the company to focus on her responsibilities at American Express. The company added that it has initiated a search for a new director to replace Pickett. "Over the past six years, Denise has been a valuable member of HBC's board and I would like to...

Business

Ivanka Trump out of fashion at Canadian retailer

Ivanka Trump's clothing line is disappearing from the shelves of Canadian retailer Hudson's Bay Company, the firm says, more than a year after some US department stores dropped the items. "Hudson's Bay is phasing out this brand through the fall based on its performance," the company said in an email to AFP. "As part of our regular course of...

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HBC refutes media reports suggesting finalisation of Signa JV

Hudson’s Bay Company has clarified through a statement that contrary to recent reports it has not signed a binding agreement to sell or combine its European business or properties. Media reports suggested that it has entered into a deal to sell half of its European business to Austria’s Signa Holding. The reports stated that development would...

Management

HBC in talks with Signa for Kaufhof JV

Hudson’s Bay Company (HBC) is said to be in talks with Austrian property and retail group Signa Holding GmbH to form a joint venture for its German retail chain Kaufhof, reports Reuters quoting sources familiar with the development. Canada-based HBC had earlier rejected Signa’s 3 billion euros (3.7 billion dollars) bid for Kaufhof earlier this...

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Vanessa LeFebvre named President of Lord & Taylor

Hudson’s Bay Company (HBC) has roped in Vanessa LeFebvre as President of Lord & Taylor. The company said, with a passion for delivering compelling customer experiences grounded in data, LeFebvre will lead Lord & Taylor's evolution in reimagining the regional department store model. Joining on May 22, LeFebvre's will report to Helena Foulkes,...

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Hudson’s Bay Company rejects Signa offer for its German business

Hudson’s Bay Company (HBC) has announced that after a review and consideration conducted in consultation with financial and legal advisors which included an in-person meeting with Signa Holding GmbH and its advisors, the company’s board of directors has unanimously rejected the unsolicited proposal to acquire the German business and related real...

ManagementFeatured

HBC appoints Helena Foulkes as the company's new CEO

Hudson’s Bay Company (HBC) has appointed Helena Foulkes as Chief Executive Officer, effective February 19, 2018. The company said, Foulkes joins HBC from CVS Health, where she served as executive vice president of CVS Health and president of CVS Pharmacy. "Helena is a transformational leader who will invigorate the business with a new...

ManagementFeatured

HBC retail sales down 4.2 percent in Q3, net loss widens

Retail sales at Hudson’s Bay Company (HBC) were 3,160 million Canadian dollars (2,495 million dollars) in the third quarter, a decrease of 140 million Canadian dollars (111 million dollars) or 4.2 percent, from the prior year. Net loss was 243 million Canadian dollars (192 million dollars) compared to 125 million Canadian dollars (99 million...

Business

HBC investors call for debt reduction

Lately, HBC seems to be a bit strapped for cash. To reduce their debt, HBC has looked to its retail portfolio to reduce their debt. However, the department store chain's shareholders want HBC to return the cash to them and not invest the proceeds in traditional retail operations. Hudson's Bay is familiar with real estate operations, but now...

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HBC names Milton Pappas its Chief Marketing Officer

HBC has appointed Milton Pappas to the role of Chief Marketing Officer, effective immediately. The company said, in this role, Pappas will lead the marketing center of excellence (COE), charged with executing the marketing strategies of the company's North American retail businesses. Earlier this year, the company created the marketing COE to...