Hudson's Bay might be in trouble

[Phil C. McNasty]

I hope rumors I'm hearing are not true because I really like their brand, but the warning signs are there.

Their stock is around $10 which is a 10-year low: https://web.tmxmoney.com/quote.php?qm_symbol=hbc
Dutch stores are closing: https://www.bloomberg.com/news/arti...lose-dutch-unit-dismiss-1-400-workers-fd-says
They sold Lord & Taylor: https://outline.com/hxsUFj
All their Home Outfitters have gone belly up: https://homeoutfitters.com/

These are all not good signs, and its all because of competition from online retailers

 

[hemorid]

I like going to the Bay, but retail is in trouble generally. Hope the ship rights itself but I'm assuming the worst.

 

[Darts]

The Bay has had problems for years. It will probably go the way of Eaton, Sears, Future Shop, etc. Sad.

Whatever happened to their idea of flipping their real estate into a trust?

Also, I think their real estate is probably worth more than the stores.

 

[hamermill]

The Bay is still around?

Overpriced, cheap quality, sales people are arrogant millennials who think you should kiss their feet after they have stepped on dog sh!t. Try finding a sales associate that isn’t looking at their cellphones - oh maybe they are waiting for the agency to call them to let them know when their next client is booked for.

Goodbye

 

[anon1]

The fall of The Bay started with this.
"On 16 July 2008, it was announced that Hudson's Bay Company had been purchased by the US firm NRDC Equity Partners, which owned Lord & Taylor and Fortunoff.[SUP][15][/SUP]
In August 2008, Bonnie Brooks was hired as president and chief executive officer of the Hudson's Bay Company."

https://en.wikipedia.org/wiki/Hudson's_Bay_(retailer)

 

[art van dele]

The fall of The Bay started with this.
"On 16 July 2008, it was announced that Hudson's Bay Company had been purchased by the US firm NRDC Equity Partners, which owned Lord & Taylor and Fortunoff.[SUP][15][/SUP]
In August 2008, Bonnie Brooks was hired as president and chief executive officer of the Hudson's Bay Company."

https://en.wikipedia.org/wiki/Hudson's_Bay_(retailer)

Bonnie Brooks was responsible for turning the whole company around and making it profitable. I think her mistake was purchasing Saks and bringing it to Canada specifically Toronto to compete with Holt. Toronto is still a very blue collar city and does not have either the money power or mentality of supporting two high end departments store brands.

 

[superstar_88]

I haven't bought anything from the Bay in years until I stepped into Topman for the 1st time and bought some season ending shorts. Topman surprised me. Good quality shorts as far as I can tell.

 

[MissCroft]

I still like The Bay...bought a cute little dress and a nice denim jacket recently. I would be sad to see them go.

 

[bazokajoe]

The Bay is still around?

Overpriced, cheap quality, sales people are arrogant millennials who think you should kiss their feet after they have stepped on dog sh!t. Try finding a sales associate that isn’t looking at their cellphones - oh maybe they are waiting for the agency to call them to let them know when their next client is booked for.

Goodbye

Not sure what Bay you are shopping at,but the one in my area there are very few millennial's working their.Mostly ladies 50 and over.

I will always shop in a brick and mortar store over shopping online.
I like shopping for casual cloths at Bass Pro.Good quality and good prices.

 

[james t kirk]

I like the Bay and would be very disappointed if they folded.

They are basically the last of the big department stores and I like their stores, service and lines. I only buy stuff from Amazon if I can't find it anywhere else. Amazon is my retailer of "last resort". My reason is simple. Amazon does not support the local community AT ALL. I remember a decade ago when Walmart was considered the evil empire and there were entire movements about advocating boycotting all things Walmart. Well Walmart is positively St. Peter compared to Amazon. At least Walmart employs local and supports local industry. Amazon is just a string of highly automated warehouses that treats its employees like slaves and they do not support the local economy. I can't understand why people have not figured that out. But I digress. If stores keep closing our our commercial areas will become boarded up ghost towns.

Eatons, Sears, Target (perhaps a bad example) and a host of others have all closed shop. I used to really like Eatons and still can't believe they went broke. I don't want to lose The Bay.

 

[whiteshaft]

It would be sad to see it close down.
However I don't know how The Bay managed to survive for so long. It's been quite a few years that every time I walk through their stores, there appears to be minimal business going on.

 

[Phil C. McNasty]

Forever 21 is also toast now: https://globalnews.ca/news/5969050/forever-21-closing-canada/

 

[superstar_88]

That's a terrible name for a store.

 

[curr3n_c1000]

You are wrong on all fronts, and obviously do not even shop there. The passive aggressive shot at escorts is a nice touch though.

All retail is suffering, and for a few basic reasons:
1. The slobbification of North America. People have never dressed worse.
2. The US predatory retail services. Nobody in Canada can compete with them.
3. Lack of buyer integrity. They will go to a brick and mortar shop, look at things, then buy online to save $.

I think the Bay understands the current market, just the market for quality items is disappearing.
Their online service has matured well, with excellent packing and warranty.
Their real estate sector still does very well.

You have to take into consideration the the middle class is shrinking. If people can't afford the price tag, the store must adapt.
HB serves no purpose and made themselves irrelevant. I can get better clothes at a better price.

 

[superstar_88]

HB is not just clothes but I get your point.

How about Canadian Tire? They seem to be doing well. How are they doing it?

I almost never buy anything from Walmart. That store is depressing. I walked in there yesterday only to compare a jacket by the same brand I had purchased elsewhere. Walmart 20% cheaper but I would say 80% more crappy in style and quality.

 

[Smash]

I like the Bay. Just this past weekend I purchased some Joe Boxer briefs from them. They always have 20-30% off sales. A sales person was eazy to locate and she was helpfull and friendly

 

[superstar_88]

Let me give you some words of advice. Always have 20 to 30% off sale means nothing. You just bought it at their regular price. The other times it's on hiatus "regular" price to give you the illusion you got a deal. No person in their right mind pays retail for anything at the Bay.

If it's 20 to 30% off more times than not then that is the regular price.

Just like no one in their right mind ever pays retail in stores like Gap or Banana Republic. They regularly have 40% off retail. That is their regular price. Some stores will even up their regular price when they offer a % discount to give the illusion you are getting a deal. They know exactly what the price is they want to sell it at. It's up to them to how best to manipulate you to buy it at that price.

 

[glamphotographer]

HB is not just clothes but I get your point.

How about Canadian Tire? They seem to be doing well. How are they doing it?

I almost never buy anything from Walmart. That store is depressing. I walked in there yesterday only to compare a jacket by the same brand I had purchased elsewhere. Walmart 20% cheaper but I would say 80% more crappy in style and quality.

Canadian Tire stock looks healthy. They have an impressive business model. It's one stop shopping in most suburban areas where they can have 100,000 sq.ft retail space for the same price of 10,000 sq.ft retail space at the Eaton Centre. Compared to Wal-Mart, Canadian tire offer a variety of quality products and great value.

https://www.google.com/search?q=can...1.69i57j0l6.6487j0j7&sourceid=chrome&ie=UTF-8

 

[jackal2006]

Survival of the fittest capitalism. If Canadian companies can't compete I'm ok with the brand going belly up. The Bay has been over priced and the quality lacklustre for a long time.

 

[superstar_88]

Canadian Tire stock looks healthy. They have an impressive business model. It's one stop shopping in most suburban areas where they can have 100,000 sq.ft retail space for the same price of 10,000 sq.ft retail space at the Eaton Centre. Compared to Wal-Mart, Canadian tire offer a variety of quality products and great value.

https://www.google.com/search?q=can...1.69i57j0l6.6487j0j7&sourceid=chrome&ie=UTF-8

Agree yet ironically enough the one thing that's crappy is their automotive repair.