(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).

Just Posted

Port Alberni’s Black Sheep Rugby Club granted tax exemption

Talks continue about city’s new permissive tax exemption bylaw

Investigation sheds light on Nahmint logging

Forestry ministry denies claims auctioned timber violates protective status

Celebrated storyteller Mike Downie brings Secret Path to Port Alberni

Presentation takes place at Alberni District Secondary School on Oct. 25

Canadian folk singer returns to Char’s Landing in Port Alberni

Seth Anderson prepares to release latest album, We Could Be

ELECTION 2019: NDP’s Gord Johns re-elected in Courtenay-Alberni

Conservative Byron Horner finishes second, with Green Party’s Sean Wood third

Raptors Bling: NBA champions receive their rings in pre-game ceremony

There are over 650 diamonds — at a weight of 14 carats — in the 14-karat yellow gold ring

‘Find Trevor’: B.C. man’s dog leads searchers to rescue him after fall during hike

‘I’ve had lots of intelligent dogs, but Purple is in a class herself’

15 Canadian youths to sue Ottawa for not acting on climate change

They say young people will be more affected than other groups

Faster response may have prevented fatal outcome at B.C. trampoline park

Coroner’s report rules Greater Victoria father Jay Greenwood’s death accidental

Girl approached by stranger at Nanaimo elementary school playground

Brechin Elementary School principal sends letter to parents after Oct. 22 incident

100-pound pumpkin stolen a second time from B.C. business

According to security footage, a man and woman took the pumpkin on Oct. 20 at 8:20 p.m.

Greta Thunberg declines invitation to Victoria due to time, not ferry emissions

Thunberg confirmed that she will be joining a climate strike at the Vancouver Art Gallery on Friday

‘Havoc and chaos:’ Alberta separatist group gains support as Liberals re-elected

The idea is getting interest from people in Saskatchewan, Manitoba and parts of British Columbia

Feds decriminalizing drugs possible if Jagmeet Singh pushes for it, expert says

National pharmacare was one of Singh’s most highly-touted platform policies

Most Read