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HBAYF - Hudson's Bay Continues To Shed Unprofitable Operations
Hudson's Bay Co.
Hudson's Bay (HBAYF) is continuing to prune its unprofitable operations by selling Lord + Taylor (while keeping the real estate) to the clothing subscription company Le Tote and shutting down its stores in the Netherlands. This has the potential to improve Hudson's Bay's results by over 100 million USD per year now, and potentially more later.
Hudson's Bay is going to have to pay severance and lease termination costs to get out of the Netherlands though, and it is receiving less than the book value of the inventory in the Lord + Taylor