Edition:
India

Hudson's Bay Co (HBC.TO)

HBC.TO on Toronto Stock Exchange

9.53CAD
16 Oct 2019
Change (% chg)

$0.00 (+0.00%)
Prev Close
$9.53
Open
$9.50
Day's High
$9.57
Day's Low
$9.50
Volume
145,734
Avg. Vol
369,908
52-wk High
$10.76
52-wk Low
$6.22

Latest Key Developments (Source: Significant Developments)

Hudson’S Bay Stores To Close In The Netherlands
Friday, 20 Sep 2019 

Sept 20 (Reuters) - Hudson's Bay Co ::HUDSON’S BAY STORES TO CLOSE IN THE NETHERLANDS.HBC NETHERLANDS BV WILL CLOSE ITS 15 HUDSON'S BAY STORES, E-COMMERCE SITE AND HEADQUARTERS IN NETHERLANDS ON OR BEFORE DECEMBER 31.CLOSURE OF NETHERLANDS STORES NOT EXPECTED TO HAVE ANY IMPACT ON DAY-TO-DAY OPERATIONS OF BUSINESS IN CANADA.HUDSON'S BAY NETHERLANDS EXPECTED TO TRANSFER WHOLLY TO HBC, UPON DEAL CLOSING, ANTICIPATED TO OCCUR DURING FALL OF 2019.AS PART OF AGREEMENT WITH SIGNA TO DIVEST INTEREST IN EUROPEAN RETAIL JV, HBC NETHERLANDS EXPECTED TO TRANSFER TO CO.  Full Article

Hudson's Bay And Le Tote Enter Into Agreement For Acquisition Of Lord + Taylor
Wednesday, 28 Aug 2019 

Aug 28 (Reuters) - Hudson's Bay Co ::HBC AND LE TOTE ENTER INTO AGREEMENT FOR ACQUISITION OF LORD + TAYLOR.HUDSON'S BAY CO - HBC WILL RECEIVE $99.5 MILLION (USD$75 MILLION) IN CASH UPON TRANSACTION'S CLOSING.HUDSON'S BAY CO - WILL RECEIVE $99.5 MILLION (USD$75 MILLION) IN CASH.HUDSON'S BAY CO - SALE CONCLUDES HBC'S REVIEW OF STRATEGIC ALTERNATIVES FOR LORD + TAYLOR BUSINESS.HUDSON'S BAY CO - LE TOTE IS IN PROCESS OF SECURING FINANCING FOR FULL PURCHASE PRICE..HUDSON'S BAY CO - HBC WILL RECEIVE A SECURED PROMISSORY NOTE FOR $33.2 MILLION (USD$25 MILLION) PAYABLE IN CASH AFTER TWO YEARS.HUDSON'S BAY CO - LE TOTE EXPECTS TO EXTEND EMPLOYMENT OFFERS TO VAST MAJORITY OF LORD + TAYLOR'S ASSOCIATES.HUDSON'S BAY CO - IF COMMITTED FINANCING HAS NOT BEEN OBTAINED WITHIN FORTY-FIVE DAYS FOLLOWING SIGNING, HBC HAS RIGHT TO TERMINATE AGREEMENT..HUDSON'S BAY CO - HBC WILL RECEIVE AN EQUITY STAKE IN LE TOTE, TWO SEATS ON COMPANY'S BOARD OF DIRECTORS.HUDSON'S BAY CO - EXPECTS TO CONTINUE TO BE LIABLE FOR APPROXIMATELY $77 MILLION IN LORD + TAYLOR TOTAL CASH RENT ON AN ANNUAL BASIS..HUDSON'S BAY CO - LE TOTE EXPECTS TO EXTEND EMPLOYMENT OFFERS TO VAST MAJORITY OF LORD + TAYLOR'S ASSOCIATES..HUDSON'S BAY CO - STARTING IN 2021, HBC AND LE TOTE WILL HAVE OPTIONS TO REASSESS LORD + TAYLOR STORE NETWORK.HUDSON'S BAY CO - UNDER TERMS OF AGREEMENT, LE TOTE WILL ACQUIRE LORD + TAYLOR BRAND AND RELATED INTELLECTUAL PROPERTY.  Full Article

Catalyst Capital Group Amends Offer To Purchase Common Shares Of Hudson's Bay Company
Tuesday, 6 Aug 2019 

Aug 5 (Reuters) - Hudson's Bay Co ::CATALYST CAPITAL LETTER TO SHAREHOLDERS RE: VARIATION OF OFFER TO PURCHASE COMMON SHARES OF HUDSON'S BAY COMPANY.CATALYST CAPITAL GROUP - AMENDS AND SUPPLEMENTS OFFER TO PURCHASE COMMON SHARES OF HUDSON'S BAY COMPANY.CATALYST CAPITAL GROUP - OFFER TO NOW PURCHASE UP TO 14.8 MILLION COMMON SHARES OF HUDSON'S BAY CO AT A PRICE EQUAL TO $10.11 PER COMMON SHARE IN CASH.CATALYST CAPITAL GROUP - INCREASING MAXIMUM NUMBER OF HUDSON'S BAY COMMON SHARES TO BE PURCHASED UNDER ORIGINAL OFFER TO 19.8 MILLION COMMON SHARES.  Full Article

Catalyst Comments On Statement By HBC Committee On Catalyst & Baker Group Offers
Friday, 2 Aug 2019 

Aug 2 (Reuters) - CATALYST CAPITAL GROUP::CATALYST COMMENTS ON RECENT STATEMENT BY HBC SPECIAL COMMITTEE ON CATALYST AND BAKER GROUP OFFERS.CATALYST CAPITAL GROUP - CATALYST IS ENCOURAGED THAT HUDSON'S BAY SPECIAL COMMITTEE ACKNOWLEDGES THAT BAKER GROUP OFFER OF $9.45/SHARE IS "INADEQUATE".CATALYST CAPITAL - TO WORK WITH HUDSON'S BAY BOARD TO SEEK EVERY ALTERNATIVE WHETHER THROUGH SALE, DIVIDEND DISTRIBUTIONS REALIZED FROM SALE OF EUROPEAN ASSETS, OTHERS.  Full Article

Land & Buildings Issues Letter To Hudson’S Bay Special Committee
Tuesday, 18 Jun 2019 

June 18 (Reuters) - Hudson's Bay Co ::LAND & BUILDINGS ISSUES LETTER TO HUDSON’S BAY SPECIAL COMMITTEE.LAND & BUILDINGS SAYS BELIEVES THE C$9.45 PER SHARE MANAGEMENT BUYOUT PROPOSAL FOR HUDSON'S BAY IS "WOEFULLY INADEQUATE".LAND & BUILDINGS SAYS BELIEVES CURRENT OFFER FOR HUDSON'S BAY IS HIGHLY UNLIKELY TO RECEIVE “MAJORITY OF MINORITY” SHAREHOLDER APPROVAL.LAND & BUILDINGS SAYS OFFER FOR HUDSON'S BAY "MATERIALLY UNDERVALUES THE EXCEPTIONAL ASSETS" THE COMPANY OWNS.LAND & BUILDINGS SAYS HOPE HUDSON'S BAY WILL EXPLORE OTHER POTENTIAL DEALS BY UNDERTAKING A 'ROBUST' STRATEGIC ALTERNATIVES PROCESS.LAND & BUILDINGS SAYS HOPE HUDSON'S BAY WILL EXPLORE POTENTIAL DEALS BY HIRING A INDEPENDENT INVESTMENT BANK TO EVALUATE VALUE OF CO'S REAL ESTATE.  Full Article

Hudson's Bay Exec On Tariffs -Could Have Secondary Exposure, Particularly At Lord & Taylor & Saks Off 5th Through Suppliers That May Source In China - Conf Call
Thursday, 13 Jun 2019 

June 13 (Reuters) - Hudson's Bay Co ::EXEC- INVENTORY EFFECTIVENESS IS EVEN MORE IMPORTANT IN FINDING POTENTIAL CHANGES OUR INDUSTRY IS FACING RELATED TO TARIFFS - CONF CALL.EXEC- WE HAVE A SMALL AMOUNT OF DIRECT IMPORTS FROM CHINA & HAVE BEEN PRACTICALLY TRANSFERRING PRODUCTION TO OTHER COUNTRIES - CONF CALL.EXEC- WE COULD HAVE SECONDARY EXPOSURE, PARTICULARLY AT LORD & TAYLOR & SAKS OFF 5TH THROUGH SUPPLIERS THAT MAY SOURCE IN CHINA - CONF CALL.EXEC- WE HAVE NOT YET SEEN ANY IMPACT FROM TARIFFS AND WE EXPECT WE WILL BE ABLE TO MITIGATE THIS CHANGE - CONF CALL.EXEC - IF INCREASE IN TARIFFS GO IN PLACE, CO IS WELL POSITIONED GIVEN MORE THAN 70% OF REVENUE CO HAS IN CANADA IN LUXURY RETAIL- CONF CALL.  Full Article

Hudson's Bay Co Reports First Quarter Revenue Of C$2.1 Billion
Thursday, 13 Jun 2019 

June 13 (Reuters) - Hudson's Bay Co ::HBC REPORTS FIRST QUARTER 2019 FINANCIAL RESULTS.Q1 REVENUE C$2.1 BILLION.QTRLY SAKS FIFTH AVENUE COMPARABLE SALES UP 2.4%.SAKS OFF 5TH RETURNED TO GROWTH, WITH A 4.4% COMP IN Q1.QTRLY EARNINGS PER SHARE $1.15.HUDSON'S BAY SAYS "WE ARE SEEING PROGRESS ON A NUMBER OF CRUCIAL FRONTS FROM OUR CONTINUED WORK TO FIX FUNDAMENTALS AND REPOSITION HBC FOR FUTURE".AT END OF Q1, INVENTORY DECLINED BY 7 PERCENT YEAR-OVER-YEAR TO $2.7 BILLION.HUDSON'S BAY'S COMPARABLE SALES DECREASED 4.3 PERCENT IN Q1.SAKS OFF 5TH RETURNED TO COMPARABLE SALES GROWTH FOR FIRST TIME SINCE Q2 OF FISCAL 2017.HUDSON'S BAY SAYS "INCREMENTALLY MORE CONFIDENT" THAT POST-HOLIDAY DIAGNOSIS WAS CORRECT & FALL ASSORTMENT WILL BETTER MATCH CUSTOMERS' EXPECTATIONS.ENDED QUARTER WITH ABOUT $2.9 BILLION OF DEBT, WHICH DECLINED NEARLY $1 BILLION FROM END OF Q1 IN 2018.SAYS "WE HAVE MORE WORK TO DO FIXING FUNDAMENTALS".DECLARED DIVIDEND IN AMOUNT OF $0.0125 PER HBC COMMON SHARE.IN FISCAL 2019, EXPECTS CAPEX, NET OF LANDLORD INCENTIVES, TO MODERATE Y-O-Y, SPENDING BETWEEN $300 & $325 MILLION.  Full Article

HBC To Review Strategic Alternatives For Lord + Taylor
Monday, 6 May 2019 

May 6 (Reuters) - Hudson's Bay Co ::HBC TO REVIEW STRATEGIC ALTERNATIVES FOR LORD + TAYLOR.HUDSON'S BAY CO - IS PURSUING STRATEGIC ALTERNATIVES FOR LORD + TAYLOR OPERATING BUSINESS, INCLUDING A POSSIBLE SALE OR MERGER.HUDSON'S BAY CO - RETAINED PJ SOLOMON AS ITS FINANCIAL ADVISOR FOR REVIEW OF LORD + TAYLOR OPERATING BUSINESS.HUDSON'S BAY CO - COMPANY IS ALSO FOCUSED ON "IMPROVING ITS COST STRUCTURE WHILE MAKING STRATEGIC INVESTMENTS".  Full Article

HBC Provides Update On Real Estate Transactions
Monday, 4 Feb 2019 

Feb 4 (Reuters) - Hudson's Bay Co ::HBC PROVIDES UPDATE ON REAL ESTATE TRANSACTIONS.HUDSON'S BAY - WEWORK PROPERTY INVESTORS EXERCISED OPTION TO CONVERT C$163 MILLION OF DEAL VALUE INTO EQUITY INTEREST IN LORD & TAYLOR FIFTH AVENUE BUILDING.HUDSON'S BAY - COMPLETED SALE OF 50 PERCENT STAKE IN 18 GERMAN PROPERTIES TO UNIT OF SIGNA PRIME SELECTION VALUED AT C$375 MILLION.  Full Article

An Entity Controlled By Richard Baker Agrees To Acquire Common Shares Of Hudson's Bay Company From An Affiliate Of Ontario Teachers' Pension Plan Board
Friday, 4 Jan 2019 

Jan 3 (Reuters) - Hudson's Bay Co ::AN ENTITY CONTROLLED BY RICHARD A. BAKER AGREES TO ACQUIRE COMMON SHARES OF HUDSON'S BAY COMPANY FROM AN AFFILIATE OF ONTARIO TEACHERS' PENSION PLAN BOARD.L&T B SAYS RUPERT OF RHINE LLC HAS ENTERED INTO AN AGREEMENT TO ACQUIRE 17.95 MILLION SHARES OF HUDSON'S BAY COMPANY.L&T B GROUP - AGREEMENT TO ACQUIRE 17.95 MILLION SHARES OF HUDSON'S BAY COMPANY AT A PRICE OF C$9.45 PER SHARE.L&T B SAYS PURCHASER MAY BE CONSIDERED A JOINT ACTOR OF L&T B.  Full Article

Hudson's Bay shareholder calls Chairman Baker's take-private offer inadequate

Hudson's Bay Co shareholder Paradise Developments on Wednesday became the latest investor to oppose Chairman Richard Baker's C$1.74 billion take-private offer for the department store operator, calling it inadequate.