13:41:10 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Hudson's Bay Company
Symbol HBC
Shares Issued 182,100,001
Close 2014-10-23 C$ 18.85
Market Cap C$ 3,432,585,019
Recent Sedar Documents

FP says Target's woes could help Hudson's Bay, others

2014-10-24 09:36 ET - In the News

Also In the News (C-CTC) Canadian Tire Corp Ltd
Also In the News (C-L) Loblaw Companies Ltd

The Financial Post reports in its Friday, Oct. 24, edition that Target's foray into Canada has been a disaster. The Post's Jonathan Ratner writes in the Trading Desk column that Target will likely stick it out through the end of 2015 to determine if better logistics, lower prices and more appropriate merchandise will improve the outlook, but its decision may not be as simple as "stay or go." CIBC analyst Perry Caicco believes the cost of leaving Canada is just as steep as the cost of staying, so neither is palatable. Mr. Caicco says, "In other words, if Target decides to exit the country, we do not believe that the only choice is to pack up and walk away -- they could retain some interest in an ongoing entity (under the Target brand or other) and try to squeeze some value from this tough decision." Mr. Caicco sees the most likely option for Target is to sell its assets to another resident retailer. "If Target were to simply pull out, pay the penalties, and let the stores go dark, it's very good for Walmart, pretty good for Canadian Tire and Loblaw, and not bad for everybody." If Target sells and licenses to Hudson's Bay, "This would be obviously good for HBC -- if they can get it for next to nothing."

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