14:36:21 EST Fri 14 Dec 2018
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Hudson's Bay Company
Symbol C : HBC
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Close 2018-03-13 C$ 9.69
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Globe says HBC delays Saks Fifth's debut in Montreal

2018-03-14 08:28 ET - In the News

The Globe and Mail reports in its Wednesday, March 14, edition that Hudson's Bay Co. has reportedly postponed plans first unveiled in 2016 to renovate its downtown Montreal location and install the city's first Saks Fifth Avenue outlet within the 675,000-square-foot building that now houses its flagship The Bay store. The Globe's Konrad Yakabuski writes that HBC is supposed to install a Saks Off Fifth store in space once occupied by the now defunct Ailes de la Mode fashion chain, according to mall owner Ivanhoe Cambridge. However, an HBC spokesman refused to confirm the information. Ivanhoe Cambridge, a unit of pension fund manager Caisse de depot et placement du Quebec, has begun a $200-million renovation of the Eaton Centre to integrate the Ailes complex that occupies most of the former Sainte-Catherine Street Eaton's store. For now, however, it looks like a ghost mall, with most of its store fronts boarded up on the main and upper levels. There are glimmers of hope. Japanese retailer Uniqlo has reportedly been considering opening its first Quebec location on Sainte-Catherine Street. And the flagship Birks jewellery outlet that sits kitty corner to The Bay is going through a facelift.

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