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Hudson's Bay Co (HBC.TO)

HBC.TO on Toronto Stock Exchange

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4 Mar 2020
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Latest Key Developments (Source: Significant Developments)

Hudson's Bay Says Helena Foulkes Steps Down As CEO & Richard Baker Assumes Role
Tuesday, 3 Mar 2020 

March 3 (Reuters) - Hudson's Bay Co ::HBC COMPLETES PRIVATIZATION TRANSACTION.HUDSON'S BAY CO - HELENA FOULKES STEPS DOWN AS CEO AND RICHARD BAKER ASSUMES ROLE.HUDSON'S BAY CO - FOULKES WILL STEP DOWN FROM HER ROLE AS CEO EFFECTIVE MARCH 13, 2020.HUDSON'S BAY CO - RICHARD BAKER ASSUMES ROLE OF CEO.HUDSON'S BAY CO - BAKER WILL TAKE ON CEO ROLE IN ADDITION TO HIS CURRENT RESPONSIBILITIES.HUDSON'S BAY CO - SHARES ARE EXPECTED TO BE DELISTED FROM TORONTO STOCK EXCHANGE AT CLOSE OF TRADING ON MARCH 4, 2020.  Full Article

Hudson's Bay Co's CEO Helena Foulkes Is Leaving The Company - WSJ
Tuesday, 3 Mar 2020 

March 3 (Reuters) - :HUDSON’S BAY CO’S CHIEF EXECUTIVE IS LEAVING THE COMPANY - WSJ, CITING SOURCES.  Full Article

HBC Chair Richard Baker Wins Shareholder Backing To Take Canada'S Oldest Retailer Private- Globe And Mail
Thursday, 27 Feb 2020 

Feb 27 (Reuters) - Hudson's Bay Co ::HBC CHAIR RICHARD BAKER WINS SHAREHOLDER BACKING TO TAKE CANADA'S OLDEST RETAILER PRIVATE- GLOBE AND MAIL.  Full Article

Hudson's Bay Enters Into Amended Agreement To Be Taken Private At $11.00 Per Share
Saturday, 4 Jan 2020 

Jan 3 (Reuters) - Hudson's Bay Co ::HUDSON'S BAY COMPANY ENTERS INTO AMENDED AGREEMENT TO BE TAKEN PRIVATE AT $11.00 PER SHARE.CATALYST CAPITAL GROUP INC AGREES TO VOTE IN FAVOUR OF TRANSACTION.INTENDS TO HOLD SPECIAL MEETING OF SHAREHOLDERS TO APPROVE PRIVATIZATION TRANSACTION IN FEBRUARY 2020.  Full Article

Hudson's Bay Announces Return Of Chief Financial Officer
Friday, 20 Dec 2019 

Dec 19 (Reuters) - Hudson's Bay Co ::HBC ANNOUNCES RETURN OF CHIEF FINANCIAL OFFICER.HUDSON'S BAY CO - CFO ED RECORD, WILL RETURN FROM MEDICAL LEAVE AND RESUME HIS DUTIES, EFFECTIVE DECEMBER 20, 2019.HUDSON'S BAY CO - BECKY ROOF, A MANAGING DIRECTOR WITH ALIXPARTNERS LLC, WILL STEP DOWN AS INTERIM CFO..  Full Article

Catalyst Comments On Misrepresentations By Richard Baker And Insiders Of Hudson's Bay Company Exposed In OSC Hearings
Monday, 16 Dec 2019 

Dec 16 (Reuters) - Catalyst Capital Group Inc::CATALYST COMMENTS ON MISREPRESENTATIONS BY RICHARD BAKER AND INSIDERS OF HUDSON'S BAY COMPANY EXPOSED IN OSC HEARINGS.CATALYST SAYS IF HBC BOARD WILL NOT ACT, CATALYST IS PREPARED TO SEEK OUT OTHER REMEDIES.CATALYST CAPITAL GROUP SAYS HBC MUST SEEK TERMINATION OF BAKER GROUP AGREEMENT,ENGAGE WITH CATALYST ON ITS SUPERIOR CASH OFFER OF C$11.00 PER SHARE.  Full Article

Hudson's Bay Co Executive Says Industry Data Shows That Luxury Shoppers Paused In Q3 - Conf call
Tuesday, 10 Dec 2019 

Dec 10 (Reuters) - Hudson's Bay Co ::EXECUTIVE - INDUSTRY DATA SHOWS THAT LUXURY SHOPPERS PAUSED IN Q3. FOR SAKS, THE PAUSE WAS MOST NOTABLE IN METROPOLITAN CITIES - CONF CALL.EXECUTIVE ON SAKS FIFTH AVENUE - IT APPEARS THOUGH THAT THE LUXURY PAUSE IS OVER AS Q4 HAS STARTED ON A STRONGER TRACK.EXECUTIVE ON SAKS OFF 5TH PERFORMANCE IN Q3 - ACCESSORIES, WOMEN'S APPAREL, KIDS AND SHOES WERE TOP-PERFORMING CATEGORIES.EXECUTIVE ON NAMESAKE STORES - FOR UPCOMING SEASON, HUDSON'S BAY WILL BE EXPANDING RELATIONSHIP WITH 250 BRANDS, INTRODUCING 75 NEW DESIGNERS & EXITING 600 BRANDS.  Full Article

Hudson's Bay Reports Q3 Loss Per Share Basic & Diluted From Continuing Operations $0.95
Tuesday, 10 Dec 2019 

Dec 10 (Reuters) - Hudson's Bay Co ::HBC REPORTS THIRD QUARTER 2019 FINANCIAL RESULTS.Q3 REVENUE C$1.8 BILLION.HBC'S Q3 COMPARABLE SALES DECREASED 1.7 PERCENT.QTRLY COMPARABLE SALES DOWN 1.7%.SAKS FIFTH AVENUE'S COMPARABLE SALES DECREASED 2.3 PERCENT IN Q3.HUDSON'S BAY COMPARABLE SALES DECREASED 3.9 PERCENT IN Q3.QTRLY LOSS PER SHARE BASIC & DILUTED FROM CONTINUING OPERATIONS $0.95.QTRLY LOSS PER SHARE BASIC & DILUTED FROM TOTAL OPERATIONS $1.23.NET DEBT DECLINED $2.2 BILLION OR 56% YEAR-OVER-YEAR TO $1.7 BILLION AT QUARTER-END.IN Q3, CO FACED "TOUGHEST COMP, SOFT INDUSTRY-WIDE LUXURY SALES".ACROSS INDUSTRY, THERE WAS A PULLBACK AMONG LUXURY CONSUMERS IN QUARTER.AS EXPECTED, REIGNITING SALES AT HUDSON'S BAY IS TAKING TIME AS WE REPLACE UNPRODUCTIVE BRANDS AND IMPROVE SERVICE.ACROSS HBC, CO WILL CONTINUE TO MAKE NECESSARY INVESTMENTS.QTRLY GROSS PROFIT MARGIN WAS 38.3 PERCENT, DOWN 120 BASIS POINTS YEAR-OVER-YEAR.  Full Article

Catalyst Capital Says Will Continue To Push HBC Independent Directors To Do Their Duty To Protect Shareholders
Saturday, 7 Dec 2019 

Dec 7 (Reuters) - :CATALYST CAPITAL-ISS RECOMMENDED THAT HUDSON'S BAY SHAREHOLDERS VOTE "AGAINST" COMPANY-SPONSORED SHARE BUYBACK.CATALYST CAPITAL- WE ARE CONCERNED ABOUT EXISTING QUESTIONS THAT REMAIN UNANSWERED AND WHAT ADDITIONAL ACTIONS AND AGREEMENTS REMAIN UNDISCLOSED.CATALYST CAPITAL- WILL CONTINUE TO PUSH HBC INDEPENDENT DIRECTORS TO FINALLY STEP UP AND DO THEIR DUTY TO PROTECT SHAREHOLDERS.  Full Article

ISS Comes Out Against Hudson's Bay Chairman's Plans To Take The Company Private - Bloomberg Reporter On Twitter
Saturday, 7 Dec 2019 

Dec 6 (Reuters) - ISS COMES OUT AGAINST HUDSON'S BAY CHAIRMAN'S PLANS TO TAKE THE COMPANY PRIVATE - BLOOMBERG REPORTER ON TWITTER:.  Full Article

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J.C. Penney sale talks stall, pushing retailer to brink

NEW YORK J.C. Penney Co Inc’s talks with landlords for a rescue from bankruptcy proceedings reached an impasse, pushing the department store to the brink of collapse unless it can reach a deal within days to be taken over by lenders.

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