The Metro Vancouver Retail Thread

[Changing City]

Originally Posted by Vin

I am saying that they used to rival the biggest companies in the world. If HBC still exists, it should continue to be great like it used to. What if I just say: They used to rival the biggest companies like CP and CN? With that kind of wealth, they should have become an even better company. And if they chose to become a major retail company, they should be the best out there, and not languish and eventually die out like so many other Canadian establishments.

No one really cares about what happened to BEI or DEI Company, but thanks for the lesson.

You're right, the reference to the East India companies was irrelevant (and wrong). Similarly, HBC isn't even in the ballpark as CN or CP. They're more than 50 times bigger (in terms of capitalization) and are very profitable .

HBC hasn't made any money from its retail operations for years. It's only surviving at all by selling off property, and it seems likely to end up disappearing completely one day. If you want to compare them, the obvious businesses would be Sears, or in the past Eaton's, or Woodward's.

[LeftCoaster]

Originally Posted by Vin

No one really cares about what happened to BEI or DEI Company, but thanks for the lesson.

Weren't you the one who brought them up??

[SpongeG]

Originally Posted by theKB

Walking through the bay yesterday - "the room" is effectively a clearance zone now, they have gotten rid of most of the individual brand areas, the shoe wall is just again a clearance set up.

Emporio Armani has removed their logos from their area on the womans floor. It seems like the only areas that are well stocked are the commissaries that have chosen to maintain their presence. They also seem to be closing down the floors and consolodating.

My sensation is that the bay is being their own liquidator to maximize their returns before they throw in the towel and file for bankruptcy. It's not sustainable to keep liquidating real estate assets to pay bills at this point.

The Guildford Store is always moving what they have around to make it look fuller. Some walls that previously housed clothing have now been replaced with decorative art to fill the void and some floor areas have had furniture added since they don't have anything to fill the racks I guess.

[GenWhy?]

Aside from the Main floor and having to use the stairs, I have not really noticed a change in the store since 2017. The basement floors are much better tho. A bit labyrinthian.

To be fair The Bay has always looked "cheap" to me since forever (1995). The goods are better than Sears but the interior design was always more or less the same. Then again my only experience is their mall locations in Alberta.

[PeterAKer]

Hudson's Bay has 3 options:
1. Renew/Restore/Renovate and Reimagine its current stores.
2. Remove and Reduce all the under performing items and stock.
3. Sell all the properties, downsize to a smaller store concept and focus on its HBC Stripes and Signature Brands.

HBC Stripes (the blankets and accessories) is the most valuable asset.

[jollyburger]

Originally Posted by PeterAKer

Hudson's Bay has 3 options:
1. Renew/Restore/Renovate and Reimagine its current stores.
2. Remove and Reduce all the under performing items and stock.
3. Sell all the properties, downsize to a smaller store concept and focus on its HBC Stripes and Signature Brands.

HBC Stripes (the blankets and accessories) is the most valuable asset.

Their most valuable asset is their properties and possibly some grandfathered leases. They already tried the whole lets split up our retail and ecommerce. Played around with other brands. In every market that is worth being in there is probably someone doing it better than HBC.

Converting every location to an Ikea seems more promising at this point.

[urbanight93]

Originally Posted by jollyburger

Their most valuable asset is their properties and possibly some grandfathered leases. They already tried the whole lets split up our retail and ecommerce. Played around with other brands. In every market that is worth being in there is probably someone doing it better than HBC.

Converting every location to an Ikea seems more promising at this point.

HBC should consolidate their product offerings, focusing on the HBC Stripes brand on the ground floor and lease out the rest of the building to Ikea for a profit.

Being a landlord is all the rage now. I'm wondering if they may have clauses that prevent them from subleasing (unless they own the building, not sure).