Canadian Retail Thread - Page 424

samne · #**8461** Posted **Mar 18, 2025, 8:10 PM**

The Bay Queen St Toronto store partially occupies the building with Saks 5h Ave. I can see them reducing even further to just 1-2 floors. Keeping the street level.

Wigs · #**8462** Posted **Mar 18, 2025, 11:12 PM**

Quote:

Originally Posted by softee

More than one! I took a walk through the Toronto flagship after the news broke about them applying for creditor protection.

• Video Link

Thanks for the video

Quote:

Originally Posted by J.OT13

But hey, the share holders had a great month that time HBC sold most of its real estate! That makes it all worth it!

Right!? A Canadian institution of over three centuries turned into dust, but hey, some wealthy folks made money.

YYCguys · #**8463** Posted **Mar 19, 2025, 12:12 AM**

The City of Calgary has been trying to reduce the amount of vacant office space in the downtown core. If the downtown Hudson Bay store closes or downsizes, perhaps the vacant space could be utilized by the Alberta College of Art for classrooms, offices, gallery space, and student residence rooms!

Loco101 · #**8464** Posted **Mar 19, 2025, 12:33 AM**

Quote:

Originally Posted by Ozabald

Rather than blaming Americans for the demise of Hudson's Bay, where were the Canadians who chose not to invest in the company. Where were the Westons; the Thomsons; the Bronfmans; Jean Coutu; Jim Pattison? and others. Likely The Bay would have failed in the early 2000s without the American investment.

The Westons did try to purchase HBC in 1979. And guess who owned about 75% at that time? The Thomson family! They owned it until 1997.

The Americans (Zucker and later an equity group) started owing the company in 2003. It was a very risky business to own even back then. Don't forget that the company included Zellers stores that wouldn't last much longer as Walmart was really growing and dominating. Maybe the Canadian business people were just wiser and more aware that it wasn't a good investment.

Now there will likely be competition for rights to the HBC name and exclusive products. It definitely does have value, historical nostalgia and name recognition. Hopefully it returns to Canadian ownership.

Wigs · #**8465** Posted **Mar 19, 2025, 12:40 AM**

Nouvellecosse · #**8466** Posted **Mar 19, 2025, 1:33 AM**

Quote:

Originally Posted by Ozabald

The government should not be bailing out retail firms. Give government money to The Bay so they can compete against Canadian retailers such as Simons which has been around since 1840). How is that fair to Simons?

The government doesn't exist to "be fair" to corporations. It exists to do what's best for the general public. And what's best for the public is to ensure strong competition and to invest in things that the public values which includes historical institutions and important national symbols. I'm sure Simons and other retailers would prefer to have less competition but the only relevant question is how that helps the public.

manny_santos · #**8467** Posted **Mar 19, 2025, 5:28 AM**

Quote:

Originally Posted by Marshsparrow

Everyone lamenting about how this could happen then receive their weekly Amazon purchases, run off to Walmart or Costco with pure joy... that's how.

I would’ve shopped more at The Bay but I really got turned off by the condition of the downtown Vancouver store. I vowed never to go there again after my last visit there. Not to mention the $40 belt I bought there barely lasted 5 months before it snapped. It was not a good look for the chain for me.

Maybe if they didn’t mismanage the chain, these problems that drive customers to other retailers including Walmart wouldn’t have happened. The majority of my clothing is from Walmart, and Target across the border (all purchased during 2022-24). I have one pair of jeans I bought at The Bay.

manny_santos · #**8468** Posted **Mar 19, 2025, 5:30 AM**

Quote:

Originally Posted by Loco101

The Westons did try to purchase HBC in 1979. And guess who owned about 75% at that time? The Thomson family! They owned it until 1997.

The Americans (Zucker and later an equity group) started owing the company in 2003. It was a very risky business to own even back then. Don't forget that the company included Zellers stores that wouldn't last much longer as Walmart was really growing and dominating. Maybe the Canadian business people were just wiser and more aware that it wasn't a good investment.

Now there will likely be competition for rights to the HBC name and exclusive products. It definitely does have value, historical nostalgia and name recognition. Hopefully it returns to Canadian ownership.

Something that I think has been forgotten is the financial proceeds HBC received from selling its Zellers leaseholds to Target in 2011. That, ironically, may have bought HBC some time.

Loco101 · #**8469** Posted **Mar 19, 2025, 5:52 AM**

Quote:

Originally Posted by manny_santos

Something that I think has been forgotten is the financial proceeds HBC received from selling its Zellers leaseholds to Target in 2011. That, ironically, may have bought HBC some time.

I wouldn't doubt that. The only real change I remember since the Zellers stores closed is that HBC changed their branding from "The Bay" to "Hudson's Bay" I don't live anywhere near a store so I only end up in one every 2-3 years. I noticed that the selection and store layouts really went downhill over the last 10-15 years.

jonny24 · #**8470** Posted **Mar 19, 2025, 12:38 PM**

I think my mom took us to one when clothes shopping as a kid.

I've never entered one since I had my own money, except the one at Fairview Park Mall in Kitchener where you have to walk through the store to get to the rest of the mall from the bus terminal.

le calmar · #**8471** Posted **Mar 19, 2025, 12:57 PM**

I've walked through my local Hudson's Bay many times because that's where you could easily find parking 10 metres from the door. The only stuff I ever bought there was some of the products in the Zellers section. It's lower quality stuff compared to what they have in the rest of the store, but at least it was not grossly overpriced.

srperrycgy · #**8472** Posted **Mar 19, 2025, 12:58 PM**

I walked through The Bay at Chinook Centre here in Calgary yesterday and though there was a bit of foot traffic, it felt like it was at death's retail door.

samne · #**8473** Posted **Mar 19, 2025, 1:30 PM**

Quote:

Originally Posted by softee

More than one! I took a walk through the Toronto flagship after the news broke about them applying for creditor protection.

• Video Link

Nice tour.

I’ve seen your videos on YouTube…Great Work!

hipster duck · #**8474** Posted **Mar 19, 2025, 3:18 PM**

Quote:

Originally Posted by Nouvellecosse

The government doesn't exist to "be fair" to corporations. It exists to do what's best for the general public. And what's best for the public is to ensure strong competition and to invest in things that the public values which includes historical institutions and important national symbols. I'm sure Simons and other retailers would prefer to have less competition but the only relevant question is how that helps the public.

Whether the Bay is one of the oldest companies in the world that was part of our history is somewhat irrelevant, though. The government should step in if an important sector of the economy is under threat of being monopolized or is getting taken over by foreign interests. You can't make that case for the Bay, which is foreign owned, and in a sector like fashion retail, which is not strategically important, and where Canadians don't exactly lack for choice.

softee · #**8475** Posted **Mar 20, 2025, 3:33 AM**

Quote:

Originally Posted by samne

Nice tour.

I’ve seen your videos on YouTube…Great Work!

Cheers, glad you enjoy them!

Nouvellecosse · #**8476** Posted **Mar 20, 2025, 4:51 AM**

Quote:

Originally Posted by hipster duck

Whether the Bay is one of the oldest companies in the world that was part of our history is somewhat irrelevant, though.

Somewhat irrelevant to you, but certainly not to me. Perhaps just a matter of different values. But I agree that neither of our individual values are that important when we're talking about something of national relevance. What matters there is the prevailing public sentiment.

SpongeG · #**8477** Posted **Mar 20, 2025, 11:51 PM**

who owns the rights to the stripes and their history? like their famous blankets, which are apparently selling out the last few days.

Loco101 · #**8478** Posted **Mar 21, 2025, 3:42 AM**

Quote:

Originally Posted by SpongeG

who owns the rights to the stripes and their history? like their famous blankets, which are apparently selling out the last few days.

I would think that HBC still does until the owners sell off the rights. Probably the only way they will raise a significant amount of cash.

kwoldtimer · #**8479** Posted **Mar 21, 2025, 1:43 PM**

Quote:

Originally Posted by SpongeG

who owns the rights to the stripes and their history? like their famous blankets, which are apparently selling out the last few days.

I should think that the British manufacturers will continue to produce the blankets.

trebor204 · #**8480** Posted **Mar 21, 2025, 2:55 PM**

Hudson's Bay hope to save 6 stores (not sure where yet)

Liquidation process begins Monday to end by June 15, and to vacate the properties by June 30

https://www.cbc.ca/news/business/hudsons-bay-jobs-store-closures-1.7489551

https://www.ctvnews.ca/business/article/hudsons-bay-hopes-to-save-six-stores-from-liquidation/