Hudson’s Bay Company continues to cut in its activities: it will be closing all outlets of home decoration store Home Outfitters. Another chain, Saks Off 5th, will be thoroughly reviewed: twenty outlets may be closed.
Home decoration chain Home Outfitters was founded in Canada in 1999. Several outlets have been closed over the past few years and by the end of 2019, the remaining 37 stores will have to go as well. HBC also announces a review of Saks Off 5th's store network. The chain has 133 outlets in the United States and Canada. The expectation is that about twenty of those will have to close.
In short, HBC's restructurings are continuing: “Further streamlining our retail portfolio enables even greater focus on our businesses with the strongest growth opportunities," said CEO Helena Foulkes. Previously, HBC closed all of its Lord & Taylor stores and the German and Belgian department stores have been subsumed in a merger with Signa Holding.