Hudson's Bay Company

[Tuscani01]

Jobs cut as HBC establishes Saks Global after Neiman Marcus acquisition

TORONTO — Jobs are being cut as Hudson’s Bay Co. spins out some of its brands into a new entity called Saks Global. A Saks Global spokesperson says operational functions from across the businesses are being brought under one leadership team. The spokesperson did not say how many people would be...

toronto.citynews.ca

 

[cslusarc]

Those jobs cuts reportes today are likely US-based due to job duplication rather than jobs up here on Canada.

 

[cslusarc]

Hudson's Bay and Student Price Card are ending their partnership on Sunday, August 24th at 11:59pm ET. Over the last 8 months I was able to earn 15% back in Hudson's Bay Rewards points. If I was truly a student I could've also saved 10% instore on regular and sale priced clothing, footwear and accessories.

 

[Richard White]

Hudson's Bay and Student Price Card are ending their partnership on Sunday, August 24th at 11:59pm ET. Over the last 8 months I was able to earn 15% back in Hudson's Bay Rewards points. If I was truly a student I could've also saved 10% instore on regular and sale priced clothing, footwear and accessories.

SPC cards still exist?

I remember being given one in Grade 8 way back in 2000.

Fun Fact: I still have my coke card from 1999!

 

[Towered]

SPC cards still exist?

I remember being given one in Grade 8 way back in 2000.

Fun Fact: I still have my coke card from 1999!

I just recently rediscovered my old TTC student cards!

 

[DSC]

At least some of the escalators at the HBC on Queen were working again yesterday - in particular the one to/from the Bay-Adelaide Centre that has been out for many months. Maybe they have paid their bills?

 

[cslusarc]

Forbes reports: Saks Fifth Avenue’s Finances Show A Conflicting Picture

 

[cslusarc]

NY Post reports: Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores


I wonder HBC will redevelop any of its Canadian stores to hotels or residential housing.

 

[Richard White]

NY Post reports: Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores

I wonder HBC will redevelop any of its Canadian stores to hotels or residential housing.

Zoning rules may not permit it in many cases.

Alot of the HBC stores here are in commercial centers like shopping malls.

 

[Northern Light]

NY Post reports: Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores

I wonder HBC will redevelop any of its Canadian stores to hotels or residential housing.

The best HBC Real Estate in the country has already been sold.

Most of the remaining 'A-list' sites are leased rather than owned.

There are a few exceptions. But I would not expect a mass rollout of condos/hotels being developed by HBC on its Canadian (mostly leased) properties, unless they want to JV w/their landlords in exchange for waiving long term, low rent leases.

HBC owns or ground leases 14 of its existing stores or did as of January '23.

(a ground lease is a long term lease of 50 years or greater, generally)

 

[cslusarc]

I wonder if Cadillac Fairview will partially redevelop the ex-Simpsons Queen Street store with HBC's consent. I'm in Winnipeg and from what I read online the Saks at 176 Yonge isn't doing well and might close. It's too bad that Saks Fifth Avenue didn't open at Yorkdale or in BC's Lower Mainland.

 

[cslusarc]

CNBC reports: Apartments, hockey rinks and Amazon warehouses: Macy’s closures will set off a wave of change at shopping malls

Macy's is expected to get down to 350-ish stores by 2027. I'm amused that Hudson's Bay isn't closing its stores as aggressively as Macy's. To mirror Macy's, I expect Hudson's Bay will downsize to about 42 stores closing all Silver and Gold tier stores by 2035 — in Toronto this means Eglington Square, Centrepoint and Woodbine stores should close.

 

[cslusarc]

Hello

I visited the Hudson's Bay @ Polo Park (store #1140) in Winnipeg this weekend

1. Hudson's Bay Optical (powered by Glasses Gallery), the PureBeauty Salon & Spa and the Sunglasses Hut concession closed down since a previous visit last winter. Polo Park is one of those stores with a non-functional AC system. This caused almost daily closures for several consecutive months if conditions became unbearable. I read somewhere that Eaton's, the original tenant, had the same issues in the 70s/80s/90s. I'm not surprised that the Hudson's Bay sub-leasees left.

2. I noticed that the Christmas shop in now set up on the basement level where Cookware and the pre-COVID cash wrap were located. Cookware is now located where Luggage was located. Luggage is now scattered around the ground floor including where Surplus Market (a vintage clothing pop-up) and the Sunglasses Hut concession were located and in selected aisles.

3. Also the 2 hand dryers in the upper level Men's washroom were not working. One of them was missing its start button.

The store was receiving some stock, but it continues to be overwhelmed with year-old clearance with a few items missing a price tag/UPC.