Friday, 12 April 2013

News: Hudson's Bay is Making Progress

Toronto-based Hudson's Bay Company announces earnings

While sales in the first quarter of this year have been soft, HBC has said 2012 same-store sales at their Hudson's Bay division have risen to $140 per square foot, versus $133 the year before. They are planned to increased by 3-5 percent in 2013 as the retailer continues an extensive series of store renovations (of which a third have been completed).
HBC chief executive Richard Baker confirmed that the company is looking to add new retail brands to the chain, after inking an agreement to bring Kleinfeld Bridal to the flagship Queen Street store in 2014. Baker said they approach their stores like malls, and wish to create a customized mix of brands desirable to their consumer. Japanese brand Uniqlo is rumoured to be on HBC's radar.
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