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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Hudson's Bay Company    HBC   CA4442181018

HUDSON'S BAY COMPANY

(HBC)
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Hudson's Bay to close Dutch stores: newspaper

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08/31/2019 | 10:12am EST
FILE PHOTO: People walk into the Hudson's Bay Company (HBC) flagship department store in Toronto

AMSTERDAM (Reuters) - Canadian retailer Hudson's Bay will close its Dutch stores by the end of 2019, laying off some 1,400 employees, the Dutch business daily Financieel Dagblad reported on Saturday.

Citing a letter from Hudson's Bay parent company HBC to undisclosed recipients, the newspaper said the stores in the Netherlands would be shut "due to an ongoing and untenable financial situation".

Hudson's Bay has 15 department stores in the Netherlands that have struggled to attract customers and have been operating at a loss.

The company has been selling businesses and closing stores over the past few years to focus on luxury department store chain Saks Fifth Avenue and its outlets in its Canadian home market, seeking to shore up its finances as shoppers skip brick-and-mortar stores in favor of buying online.

(Reporting by Stephanie van den Berg; Editing by Mark Heinrich)

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Financials (CAD)
Sales 2020 8 108 M
EBIT 2020 453 M
Net income 2020 -
Debt 2020 -
Yield 2020 0,54%
P/E ratio 2020 -
P/E ratio 2021 -
Capi. / Sales2020 0,27x
Capi. / Sales2021 0,27x
Capitalization 2 170 M
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Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 10,71  CAD
Last Close Price 9,22  CAD
Spread / Highest target 30,2%
Spread / Average Target 16,2%
Spread / Lowest Target 11,2%
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Managers
NameTitle
Helena B. Foulkes Chief Executive Officer & Director
Richard A. Baker Executive Chairman & Governor
Rebecca A. Roof Chief Financial Officer
Stephen J. Gold Chief Technology & Digital Operations Officer
Robert C. Baker Director
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