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Skeezix

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I knew they had bought the chain in Germany and were expanding in Europe. What I didn't know was that they would be using the Hudson's Bay banner, which is interesting.

ETA: Interesting article in @PinkLucy's post. For those trying to read it, it wouldn't give me access to the article when I clicked the link Lucy provided (unless I was prepared to buy a subscription), but googling the title took me to a version that the Financial Times was prepared to let me read.
 
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Northern Light

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I knew they had bought the chain in Germany and were expanding in Europe. What I didn't know was that they would be using the Hudson's Bay banner, which is interesting.

ETA: Interesting article in @PinkLucy's post. For those trying to read it, it wouldn't give me access to the article when I clicked the link Lucy provided (unless I was prepared to buy a subscription), but googling the title took me to a version that the Financial Times was prepared to let me read.


Read it. Thanks.

Love this quote.

"people told us, ‘department stores don’t work in Canada, Canadians are moderate, not a lot of opportunity for growth’"....

"We did a lot of analysis and what we determined in Canada was that badly run department stores don’t work well in Canada.”
 

PinkLucy

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ETA: Interesting article in @PinkLucy's post. For those trying to read it, it wouldn't give me access to the article when I clicked the link Lucy provided (unless I was prepared to buy a subscription), but googling the title took me to a version that the Financial Times was prepared to let me read.
I found it by googling, read it and just cut and paste the link. Weird that you can read it via Google but not via a copied link.
 

the lemur

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Am I reading this correctly? Are they opening, in addition to Saks Off 5th outlets, stores with the Hudson's Bay banner in the Netherlands?

Yep. They really are capitalizing on the demise of Vroom & Dreesmann, which was a little more like Eaton's than HBC is, and they'll be slightly more upscale than De Bijenkorf, which is owned by the Westons.

International Clothiers holds (held?) the trademark for selling V&D branded menswear, incidentally.
 
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Skeezix

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I found it by googling, read it and just cut and paste the link. Weird that you can read it via Google but not via a copied link.

It appears to assign a different web address each time, and I don't think a different IP address can use the same link that you had. Similarly, you likely couldn't open the link I had.
 

officedweller

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Here's an article on the Amsterdam flagship.
http://www.ivygroup.nl/en/news/hudsonys-bay-opens-department-store-at-rokin-in-Amsterdam

Redevelopment of a modern pink granite Fortis office building into 2 side-by-side faux-heritage department stores with direct Metro access - Marks & Spencer and a luxury store, Haussmann.
Haussmann failed and M&S also pulled out - so Hudson's Bay leased both buildings.

thumb.php

http://www.ivygroup.nl/en/news/hudsonys-bay-opens-department-store-at-rokin-in-Amsterdam

http://www.ivygroup.nl/en/portfolio/rokin-21
http://www.ivygroup.nl/en/portfolio/rokin-49
http://www.ivygroup.nl/en/portfolio/sint-pietershalsteeg-3-5


Marks-Spencer-Haussmann.png

http://www.dutchnews.nl/news/archives/2016/03/german-department-store-may-ditch-amsterdam-plan/

See also:
https://fashionunited.uk/news/retail/haussmann-to-open-first-store-in-amsterdam/2015051216384
 
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Skeezix

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For anyone still trying to stay in the summer mental mode, stay away from the store's concourse level. I notice that they are starting to set up the Christmas stuff.

Also, Hudson's Bay is selling toys again, also in the concourse level.
 

Skeezix

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No, sorry I wasn't clear. The Queen Street store, which is the focus of about 95% of this thread, but my comment did follow those posts from May about the Dutch stores.
 

LanwithaTan

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I really like the Bay and think it is neat with a lot of history, but I just can't figure out how such a big store stays in business because for that size, they don't seem to be getting enough sales. Perhaps I am missing something.
 

Toronto Rocks

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Hudson’s Bay Company cuts outlook after sales fall more than expected at most of its chains
The Canadian Press | November 11, 2016 9:24 AM ET

TORONTO — The company that owns the Bay, Lord & Taylor and Saks Fifth Avenue says sales across most of its retail business have fallen below expectations and it’s revising estimates for the 2016 financial year.

Hudson’s Bay Co. says sales at stores that have been open for at least a year in its third quarter fell by 3.6 per cent, after adjusting for currency fluctuation, and by four per cent when including the impact of foreign exchange.

The retail chain says its previous outlook assumed an improvement on comparable sales during the second half of its 2016 financial year but, given that hasn’t happened, HBC is lowering its key financial estimates.

HBC trimmed its estimate for 2016 annual sales to between $14.5 billion and $14.9 billion from its previous outlook issued in September of $14.9 billion to $15.9 billion.

CEO Jerry Storch says the company will continue to invest in its operations, such as its recent $60 million in upgrades at its Toronto distribution centre to speed up delivery of products.

Its full third-quarter report will be released Dec. 5.
 

Skeezix

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Until they release the third-quarter report on Dec 5, it's hard to know what these means for each the individual chains. As it is, for the past few years they have been combining the Hudson's Bay and Lord & Taylor results, reportedly to mask the weak growth at Lord & Taylor. And the full-line Saks in the U.S. has been struggling.
 

Skeezix

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Department store chains are having a tough go of it.

Hudson’s Bay cuts revenue forecast citing challenging U.S., Europe environments
Financial Post, 9 January 2017

“While we were pleased with our performance at Hudson’s Bay in Canada, the retail environment has remained challenging in the U.S. and Europe and the significant promotional activity during the holiday period had a negative impact on our margins,” Chief Executive Jerry Storch said in a statement.

(Details here)
 

jje1000

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Macy's in a lot of trouble, though.

HBC in a bit as well (retail sales were not as high as they wanted)- department stores will likely continue to face problems as with most brick n mortar retailers.

However, the most important asset Macy's has is its real estate- monetizing that may be a windfall for HBC, much like they did to their own holdings earlier.

Imagine what developers would pay for to redevelop Macy's main department store in Midtown!

http://www.cnbc.com/2017/02/03/value-of-macys-is-in-its-real-estate-analyst-says.html
 

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