Hudson's Bay Company plans IPO

Retail Editor 3, October 18, 2012

Toronto - Having sold off its Zellers operation to Target and completed the wind-down of its 169 Fields stores, Hudson's Bay Company plans to return to the Toronto Stock Exchange through an initial public offering of its stock.
Founded 342 years ago, HBC currently owns 206 stores: Lord & Taylor in the U.S. as well as The Bay department stores and Home Outfitters specialty stores in Canada. Its preliminary prospectus, filed yesterday, does not outline the amount it hopes to raise in the IPO.
According to the filing, net earnings in 2011 rose C$1.45 billion from C$88 million, with retail sales up 3.6% to C$3.85 billion. Comps were up 3.7% on top of a 3.2% increase in 2010.
HBC was acquired in 2009 by NRDC Equity Partners LLC, which had earlier acquired Lord & Taylor and Fortunoff.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!