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Hudson's Bay Co (HBC.TO)

HBC.TO on Toronto Stock Exchange

9.91CAD
16 Sep 2019
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Latest Key Developments (Source: Significant Developments)

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
Monday, 5 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 Reports Q3 Retail Sales Decreased 4.2 Pct TO $3.2 Bln
Wednesday, 6 Dec 2017 

Dec 6 (Reuters) - Hudson's Bay Co ::- Q3 RETAIL SALES DECREASED 4.2% TO $3.2 BILLION; COMPARABLE SALES ON A CONSTANT CURRENCY BASIS DECLINED BY 3.2%.SAYS CO'S "TRANSFORMATION PLAN" REMAINS ON TRACK TO GENERATE ANNUAL SAVINGS OF $350 MILLION.QTRLY LOSS PER SHARE $1.33.- MANAGEMENT NOW EXPECTS TOTAL CAPITAL INVESTMENTS IN FISCAL 2017, NET OF LANDLORD INCENTIVES, TO BE BETWEEN $575 MILLION AND $625 MILLION.Q3 EARNINGS PER SHARE VIEW C$-0.74, REVENUE VIEW C$3.41 BILLION -- THOMSON REUTERS I/B/E/S.- INVENTORY AT END OF Q3 DECLINED BY $64 MILLION COMPARED TO PRIOR YEAR.  Full Article

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Hudson's Bay Co loss widens on 'hyper-promotional' retail environment

Canadian department store operator Hudson's Bay Co reported a wider second-quarter loss on Thursday, hurt by store closures, deep discounts and declining sales at the retailer's name brand.