Posted Aug 29, 2019, 3:30 PM
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Moderator
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Join Date: Mar 2012
Location: Ottawa
Posts: 27,640
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HBC took a massive loss! Don't know how much they paid for Lord & Taylor in 2008, but it must have been well over $1 billion considering it was sold two year earlier for $1.1 billion.
It was a colossal dumb move to buy in 2008. It was the start of the recession, department stores had been on the decline for a few decades already.
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