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Hudson's Bay Company

DSC said:
Were I a shareholder, I would be calling my broker!
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This is very similar to Eatons and I suspect the Bay will go under in 2024.

The Bay is trying to be like Macys, Bloomingdales and Nordstroms when the market cannot bear it.

The need to rethink their strategy because right now they are pricing themselves out of business.
 
Richard White said:
This is very similar to Eatons and I suspect the Bay will go under in 2024.
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It is not similar, the reasoning is completely different.

Richard White said:
The Bay is trying to be like Macys, Bloomingdales and Nordstroms when the market cannot bear it.
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That isn't really the issue, the higher end stores are the better performing stores, or were pre-Covid anyway.

There is an issue with too many low-performing locations.

Whether they were outright 'dumped' or repurposed to a different retail format (ie. Zellers) is a fair question.

Richard White said:
The need to rethink their strategy because right now they are pricing themselves out of business.
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The strategy, per se, is not so much the problem; the problem is the owner.
 
Northern Light said:
Just a rumour..............cough..........escalators at most stores have been turned off to save money they're off in most stores.
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In Germany they’ve had sensor escalators since the late 1990s. I remember my first visit to Cologne in 1998 for a trade show thinking, it‘s broken, until I approached and the stairs became an escalator.

 
Admiral Beez said:
In Germany they’ve had sensor escalators since the late 1990s. I remember my first visit to Cologne in 1998 for a trade show thinking, it‘s broken, until I approached and the stairs became an escalator.
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We had a few in Toronto, they weren't maintained.
 
Northern Light said:
Richard Baker took the company private.
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And like all private equity, will now strip the carcass of its real estate holdings, while transferring debt from the equity fund to HBC, followed by declaring bankruptcy and walking away with cheap real estate.
 
Northern Light said:
Just a rumour..............cough..........escalators at most stores have been turned off to save money; they're off in most stores.
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Well I was at Sherway yesterday and 1 of them was off.. not sure if broke or turned off.

Also, the Sherway Zellers is one of the worst I have seen yet... the smallest little section of random shelves and random product. Terrible...

They keep changing the brands inside the store, they had club monaco & waxx london and now both are gone.. same with scotch/soda... very bizzare (but there was some good clearance).
 
torontowest91 said:
Well I was at Sherway yesterday and 1 of them was off.. not sure if broke or turned off.
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Where escalators are off at almost every store in the GTA; that would be an unusual epidemic of breakdowns.....

torontowest91 said:
Also, the Sherway Zellers is one of the worst I have seen yet... the smallest little section of random shelves and random product. Terrible...
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There shouldn't be a Zellers anywhere near Sherway, and I disagreed with putting them into Bay stores in the first place.

I think there is room for another discount format in Canada; but it makes no sense to shove it inside a middle/upper-middle brand; that diminishes the latter, and confuses the former.

torontowest91 said:
They keep changing the brands inside the store, they had club monaco & waxx london and now both are gone.. same with scotch/soda... very bizzare (but there was some good clearance).
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There's a reason for that, I wouldn't call it strategic either....
 
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Northern Light said:
Where escalators are off at almost every store in the GTA; that would be an unusual epidemic of breakdowns.....
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I swear over half the escalators I encounter, both in public and private buildings, are currently broken. Is there a scarcity of escalator mechanics, similar to the elevator mechanic shortage?
 
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