(THE CANADIAN PRESS/Nathan Denette)

(THE CANADIAN PRESS/Nathan Denette)

HBC shuttering Home Outfitters across Canada

North America’s oldest retailer is revamping its various stores to improve profitability

Home Outfitters will be closing in 2019, a total of 37 stores across Canada, as HBC makes changes to reduce costs, simplify its businesses and improve profits.

“Further streamlining our retail portfolio enables even greater focus on our businesses with the strongest growth opportunities. The divestiture of Gilt, rightsizing of Lord & Taylor, the recent merger of our European retail operations in Germany, and today’s announcement exemplify the bold strategic actions we are taking to set HBC up for long-term success,” said Helena Foulkes, HBC’s chief executive officer. “We know this news is difficult for our associates. We are grateful for their ongoing efforts to serve our customers and we will work to find opportunities within HBC for impacted team members where possible.”

HBC also announced on Thursday that it will be reviewing and rationalizing its SAKS OFF 5th operations, keeping its best locations and focusing more on its SAKS OFF 5th website. The company anticipates closing up to 20 of those stores in the U.S.

The announcement includes details for Home Outfitters customers. The vast majority of markets in which Home Outfitters operates are served by Hudson’s Bay which accepts Home Outfitters gift cards. B.C. Home Outfitters are located in Kelowna, Langley, Coquitlam, Victoria, and North Nanaimo.

Founded in 1670, HBC is the oldest company in North America. HBC’s portfolio today includes 350 stores and more than 45,000 employees around the world. HBC North American businesses include Saks Fifth Avenue, Hudson’s Bay, Lord & Taylor, and Saks OFF 5TH.

HBC also has significant investments in joint ventures. It has partnered with Simon Property Group Inc. in the HBS Global Properties Joint Venture, which owns properties in the United States. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC Joint Venture. HBC has partnered with SIGNA Retail Holdings for real estate and retail joint ventures in Europe.

HBC announced its third quarter results in December, posting a net loss of $124 million, compared to $116 million the previous year. It has also recently sold some lucrative property in New York, using the funds to pay down its debt of $3.98 billion (as of Nov. 3, 2018).

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

COVID-19. (Image courtesy CDC)
Interior Health reports 65 new cases of COVID-19

Province-wide, there are 887 new cases of the virus

In quick response to last week’s unprecedented province-wide health order, the Nelson and District Chamber of Commerce distributed over 150 posters aimed at reminding residents to wear masks while in businesses and public buildings, and to Think Local. L-R: The Chamber’s Val Yowek, Denise McInnes and executive director Tom Thomson, mask up and buckle down. Photo: Darren Davidson
BUSINESS BUZZ: Stay calm and shop on, Snowwater sells Valhalla, Grey Owl gives ‘er

Columnist Darren Davidson on the latest happenings in business

Regional and local governments will eventually be required by the province to follow the BC Energy Step Code, which aims to reduce greenhouse gases from buildings. Some governments, now including the RDCK, have decided to phase it in voluntarily ahead of provincial deadlines. File photo
VIDEO: RDCK adopts Step 1 of provincial home energy efficiency plan

New buildings must comply with first level of the BC Energy Step Code

Tenants are hoping to apply for a $1-million grant to upgrade Kaslo’s Kemball Memorial Centre. Photo: Google
Kaslo council hears last-minute pitch for Kemball Memorial Centre grant

Tenants want to turn the building into a business and tech hub

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry update the COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. sets another COVID-19 record with 887 new cases

Another 13 deaths, ties the highest three days ago

Arthur Topham has been sentenced to one month of house arrest and three years of probation after breaching the terms of his probation. Topham was convicted of promoting hate against Jewish people in 2015. (Photo submitted)
Quesnel man convicted for anti-Semitic website sentenced to house arrest for probation breach

Arthur Topham was convicted of breaching probation following his 2017 sentence for promoting hatred

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Langley School District's board office. (Langley Advance Times files)
‘Sick Out’ aims to pressure B.C. schools over masks, class sizes

Parents from Langley and Surrey are worried about COVID safety in classrooms

The baby boy born to Gillian and Dave McIntosh of Abbotsford was released from hospital on Wednesday (Nov. 25) while Gillian continues to fight for her life after being diagnosed with COVID-19.
B.C. mom with COVID-19 still fighting for life while newborn baby now at home

Son was delivered Nov. 10 while Gillian McIntosh was in an induced coma

B.C. Premier John Horgan, a Star Trek fan, can’t resist a Vulcan salute as he takes the oath of office for a second term in Victoria, Nov. 26, 2020. (B.C. government)
Horgan names 20-member cabinet with same pandemic team

New faces in education, finance, economic recovery

The corporate headquarters of Pfizer Canada are seen in Montreal, Monday, Nov. 9, 2020. The chief medical adviser at Health Canada says Pfizer’s COVID-19 vaccine could be approved in Canada next month. THE CANADIAN PRESS/Ryan Remiorz
Health Canada expects first COVID-19 vaccine to be approved next month

Canada has a purchase deal to buy at least 20 million doses of Pfizer’s vaccine,

FILE – A paramedic holds a test tube containing a blood sample during an antibody testing program at the Hollymore Ambulance Hub, in Birmingham, England, on Friday, June 5, 2020. (Simon Dawson/Pool via AP)
Want to know if you’ve had COVID-19? LifeLabs is offering an antibody test

Test costs $75 and is available in B.C. and Ontario

Most Read