United Kingdom

Hudson's Bay Co (HBC.TO)

HBC.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Hudson’S Bay Company responds to appeal of TSX conditional approval for Rhône Capital Equity Investment
Wednesday, 15 Nov 2017 

Nov 15 (Reuters) - Hudson's Bay Co :Hudson’S Bay Company responds to appeal of tsx conditional approval for Rhône Capital Equity Investment.Provided update related to Rhône Capital's Equity Investment of U.S. $500 million in form of 8-year mandatory convertible preferred shares​.Hudson's Bay says received notice of an appeal by land & buildings regarding TSX decision to conditionally approve Rhône Capital's Equity Investment​.Hudson's Bay says "‍will seek to have tsx decision confirmed" regarding Rhône Capital's Equity Investment​ and "appeal dismissed on an expedited basis".Hudson's Bay says ‍will continue to proceed with fulfilling all regulatory requirements to close Rhône Capital's Equity Investment​.  Full Article

HBC appoints Milton Pappas to chief marketing officer
Monday, 6 Nov 2017 

Nov 6 (Reuters) - Hudson's Bay Co :HBC appoints Milton Pappas to Chief Marketing Officer.Hudson's Bay Co - ‍Pappas joined HBC in September 2016 as senior vice president, digital marketing​.  Full Article

Hudson's Bay says will consider proposal by Signa
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - Hudson's Bay Co :Hudson's Bay Co ‍responds to Land & Buildings' press release issued on November 1, 2017​."‍HBC board will review conditional, non-binding, preliminary proposal by Signa in accordance with its fiduciary duties​".  Full Article

Signa confirms has submitted offer for Hudson's Bay's Kaufhof‍​
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - Signa Spokesman :Confirms has submitted offer for Hudson's Bay's <<>> Kaufhof‍​.  Full Article

‍land & Buildings Investment Management issues letter to Hudson's Bay shareholders
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - ‍Land & Buildings Investment Management Llc::‍Land & Buildings Investment Management Llc issued letter to shareholders of Hudson's Bay Co.‍Land & Buildings Investment Management Llc - Hudson's Bay board should "seriously consider" reported Signa fully financed EUR 3.0 billion offer for its European business​.  Full Article

Riocan-HBC JV to explore possible sale of Vancouver property
Monday, 30 Oct 2017 

Oct 30 (Reuters) - Riocan-HBC JV::Riocan-HBC joint venture to explore possible sale of vancouver property.Says has engaged CBRE and Brookfield Financial Real Estate Group to explore a possible sale of its Vancouver property.Says expects to close on $200 million mortgage on Vancouver property, proceeds of loan to be distributed on a pro-rata basis to JV partners ​.  Full Article

HBC head says sees no reason to change Europe strategy
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Hbc :Head says sees no reason to change europe strategy.Head says we have no intention of selling German department store chain Kaufhof.  Full Article

Hudson's Bay to sell Lord & Taylor 5th Ave building
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Hudson's Bay Co ::HBC and WeWork enter into global, multi-faceted strategic relationship.Hudson's Bay Co - ‍WeWork property advisors to acquire Lord & Taylor Fifth Avenue building in a transaction valued at U.S.$850 million​.Hudson's Bay Co - ‍Rhône Capital to make u.s.$500 million equity investment in HBC​.Hudson's Bay Co - ‍HBC to reduce outstanding debt and/or increase cash by approximately c$1.6 billion and increase total liquidity by c$1.1 billion​.Hudson's Bay Co - ‍HBC currently anticipates minimal impact on its earnings from sale of Lord & Taylor Fifth Avenue building​.Hudson's Bay Co - strategic alliance is expected to produce future real estate deals and monetizations, consistent with hbc's strategic objectives​.Hudson's Bay Co - ‍companies intend to implement a reciprocal benefits program to enhance their respective product offerings​.Hudson's Bay Co - ‍lord & Taylor Fifth Avenue flagship store is expected to continue operations in entire building throughout 2018 holiday season​.Hudson's Bay - to use proceeds from private placement & sale of lord & taylor fifth avenue building to reduce indebtedness under asset-based revolving facility​.Hudson's Bay - an investment vehicle affiliated with rhône, subscribed for 50.92 million hbc's series a convertible preferred shares at $9.82 per share​.Hudson's Bay Co - ‍in connection with private placement, hbc has concurrently entered into an investor rights agreement with Rhône​.  Full Article

Hudson's bay CEO ‍Jerry Storch steps down
Friday, 20 Oct 2017 

Oct 20 (Reuters) - Hudson's Bay Co :HBC announces CEO transition.Hudson's Bay Co - ‍Jerry Storch steps down as CEO​.Hudson's Bay Co - ‍governor and executive chairman Richard Baker to reassume CEO role on an interim basis​.Hudson's Bay Co - ‍company has retained an executive search firm to recruit a CEO​.  Full Article

Hudson's Bay Q2 loss per share C$0.78
Tuesday, 6 Sep 2016 

Hudson's Bay Co : Hudson's Bay Company reports second quarter 2016 financial results . Hudson's Bay Co says provides commentary on fiscal 2016 outlook . Qtrly consolidated retail sales increased 59.6 percent to $3.3 billion , with comparable sales up 1.9 percent . Hudson's Bay Co sees fiscal 2016 adjusted EBITDA $800 to $950 million . Sees full-year 2016 sales C$14.9 to C$15.9 billion . Qtrly loss per share C$0.78 . Sees in fiscal 2016 it will make higher than normal investments in growth, with total net capital investments expected to be $750 million-$850 million .Q2 earnings per share view C$-0.65, revenue view C$3.27 billion -- Thomson Reuters I/B/E/S.  Full Article

PRESS DIGEST- Canada - Nov 16

Nov 16 The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.